what you said!
BUT....W is gonna drill the anwar, soooooooo......
they "buy it high......and eat it low"
Posted on 10/21/2004 6:51:33 PM PDT by deathb4dishoner
China's stockpile of oil helps to bolster prices By Carl Mortished, International Business Editor
EVIDENCE is mounting that China is buying more oil than it consumes, raising fears that oil hoarding may be supporting the current high price of crude. The signs of aggressive Chinese stockpiling emerge from research by Merrill Lynch, the investment bank, which suggests that China is importing crude and refined products at twice the rate of growth in actual demand.
Alla yu oil are berong to us!!!!
All from youa friends in PRC!!!
Thanks for the post. I agree--stockpiles for war. But I'm not confident the hegemony will be limited to Taiwan.
This is the same China that American C.E.O.'s think is better to do business with than their fellow Americans.
But read this.
This is nothing new.
I hope that you are correct but if the PRC is stockpiling oil to a degree that it did not before, such that the oil markets are affected, it could be the fan's about to get a little smelly.
Buying at $53/BBL
Would have made too much sense to buy at $20/BBL.
sorry a long time love you guys but dont track it all
The final days will certainly bring all of the clowns out to perform........
you said it better than me thats why I dont post or have not.... they could have done this before but it would appear there is a more profound reason and of course it may be totally logical only bringing up the possible political motivations - if Kerry wins.... appeaser checkmate
You are more than welcome to start up a good conversation on the matter if you want though. No harm in that at all.
At the moment China is awash with surplus cash - they are selling more manufactured goods across the world than any other source, and their rather primative capitalistic banking system simply cannot absorb and efficiently direct the cash. So petroleum, as a commodity, is being bought up and stored in China, not for current use, but for future trading directly in petroleum. Petroleum is a semi-perishable commodity, (evaporation and natural on-going polymerization of stored refined product), but it can be a deal-sweetener, especially if it is offered as a discounted price.
Also valuable to have on hand if any military adventures are planned. Say the US fails in the Middle East, the resulting disorder could be very disruptive for China. China may wish to extend its hegemony and its area of calm transactions, by being able to maintain a presence from Kabul to the Mediterranean shores. China might not WANT the empire, but the duties of playing policeman to the world if the US fails becomes theirs by default. China also has a large preponderance of male youth coming of age, with no corresponding Chinese female youth (due to governmental limitations on reproductive rights in China).
Where are the carriers these days? Do we still have a half-dozen trolling along between Alaska and Australia, waiting for bad news?
"I lurk - dont hammer me first time - Oil hoarding is occuring uncovered this article - because I track the markets for investing purposes"
It's a good and interesting article.
I am thinking of shorting oil futures. What say you to that?
we could have an offline discussion.
what you said!
BUT....W is gonna drill the anwar, soooooooo......
they "buy it high......and eat it low"
ANWR is a bandaid. We need nuclear energy and we need it yesterday.
Most Kerry clowns are too stupid to realize that the price of gasoline is set by market prices - demand and available product. The ChiComs remove the supply. So why doesn't BUSh add to the supply?
How do you know they didn't? They could have made a contract last year when oil was $25, to buy huge amounts at $25 over the year. Yes, the current marginal rate is in the 50's, but that wouldn't affect somebody who was buying at a pre-negotiated contract price
A pre-planned runup in the price of oil would be damaging to the Bush presidency, and would benefit anybody would would rather deal with Kerry
"No offense but we are stockpiling oil too. It is part of the reason the price is so high."
you are correct that we are stockpiling oil. BUT it is not the major reason the price is so high. we import 50% of oil for our refineries, our refineries are running at 95% capacity, not a single new refinery has been built since the mid 1970s, we are importing 10% of our GASOLINE (not oil), the EPA is making things even tougher with new gasoline clean burn laws, and some states (17 i think) have even stricter emission laws than what the EPA is currently enforcing. economically, the EPA and states have turne a mass market that could easily have driven oil prices down through "economies of scale, INTO a series of niche markets each requiring specialized oil refining. things are so complex that we are having difficulty finding countries that will make gasoline for us so that we can increase our 10% dependence on foreign GASOLINE.
The clean air act and the EPA have hosed us all
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