Posted on 09/05/2017 7:56:13 AM PDT by bananaman22
An open military conflict in Northern Asia would disrupt more than a third of global seaborne crude oil trade, Wood Mackenzie warned last week amid yet another escalation between North Korea, its neighbors, and the U.S.
Such a conflict would cripple North Asia’s production and refining capacity, the consultancy said. Some 65 percent of Asia’s crude oil refining capacity is located in China, Japan, and South Korea, so the effects of an open war would be far-reaching and potentially long-lasting. The most pressing question, then, is how likely such an open conflict is.
(Excerpt) Read more at oilprice.com ...
Yah think?
How was anyone to know?
Say, didn't experts say the same thing before Desert Storm?
“OTHERS” besides Kim are behind this. Since they didn’t get to destroy America with Hillary, they’ve got to find another way. Having the world blame America for the fall of the world economy is one way.
Nothing is going to make oil prices rise until those controlling the markets get good and ready for them to rise. Bookmark this.
This site is guilty of false news in the past especially relating to “Peak Oil” They support high prices and usually spin stories toward higher prices. If their bias is not visible in articles so I really do not trust them completely.
Like Iraq.
Short bump.
Don’t count on catching the wave...
Whatever. You copy/paste that assumption from any military engagement.
Just not clever besides, it won’t happen...
Bush oil conspiracy to raise oil prices for his buddies. Yeah.
WE NOW OWN THE PUMPS !
Yes, because North Korea is a major exporter of oil, just like Japan.
In any significant conflict Nork’s air, sea, and missile capacities will be wiped out fast. Thus, there will not be a long period in which they have any major prospect of disrupting oil and gas supplies or processing across the entire region. Thus, any disruption will be temporary and fleeting.
As an aside: The big concern is always about how much damage their artillery can do to the Seoul area. Although this is obviously a very serious concern, and there would be major civilian casualties to one degree or another, I suspect the “sea of fire” projections are much exaggerated. First, the Norks can’t concentrate all of their artillery within the closest axis to Seoul, just across the border, or else it will be wiped out very quickly (and their artillery and rocket units are spread across many division and corps groupings, not bunched all in one spot). So people who say they will have “12,000” or more artillery tubes and rocket launchers firing on Seoul are probably hugely exaggerating. They also have to protect all of their border, not to mention other potential incursion points along their coastlines, while trying to prepare (”soften”) any other areas of military operation for their own offensive efforts. 2nd, most of the Seoul region is far more than 20 miles away from the nearest N. Korean border. It is another exaggeration to say that all of Seoul will be under artillery fire. Some of the northern suburbs, to be sure, but not all of Seoul. 3rd, much of the Nork artillery is NOT of the longest ranges; under 1,000 tubes are actually of the 170mm + sizes which could reach 20+ miles, and as referenced above those are not all going to be bunched just across the border due north of Seoul (else they will be wiped out pretty quickly).
Interesting article here on some aspects of the artillery/rocket issue and Seoul:
http://nationalinterest.org/blog/the-buzz/could-north-korea-annihilate-seoul-its-artillery-20345
Followed by a produced glut of the stuff, dropping prices to new lows. Stupid is as stupid listens to manipulative deep state.
The implication is that Norkea should be suddenly obliterated, not engaged in a protracted war of threats and words.
Here in North Central Florida just the idea of Irma being anywhere near the peninsula has driven gas prices from $2.15 last week to $2.69 yesterday, and I'm sure will go even higher.
Just means more drilling here, with more jobs, and ultimately meaning fewer American dollars supporting thugs and theocracies.
Is this a time to call Cpt. Obvious?
Gas prices up, obviously. Yet crude prices are pretty flat.
I’m in central Florida too, fwiw.
Cut the oil off now to the Fat Man.
A war with North Korea could ALSO stop all trade with China... and for years after as Americans turn their back on China and China’s goods.
If China wants a chance to be ‘first world’ they have to reign in the little fat monster.
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