China Oil

And you thought we were dependent on foreign oil. China's nearly double-digit growth has become the envy of the world's mature economies, but all that expansion requires fuel. As a result, China is now a net importer not only of oil, but of coal as well. And the trends in Chinese energy consumption don't appear to be turning around anytime soon.

The price per gallon for gasoline is at the second-lowest level in five years, and some economists predict it could drop much further soon. The reason: More-than-ample inventories of crude oil and refined petroleum products.