Posted on 05/21/2008 10:05:50 AM PDT by Always Right
HONG KONG - Share indexes in Hong Kong and Shangahi closed higher on Wednesday, as rumors that Beijing might soon implement a policy to assist the country's oil refiners sparked a late rally in that sector.
The Hang Seng index closed up by 1.2%, or 290.83 points, to 25,460.29, supported mainly by speculation that China's central government will help struggling oil companies by permitting higher prices for refined products or reducing windfall taxes on their operations. H-shares of PetroChina (nyse: PTR - news - people ) rose 2.2%, to 11.36 Hong Kong dollars ($1.46), while CNOOC (nyse: CEO - news - people ) soared 5.9%, to 15.90 Hong Kong dollars ($2.04). The country's biggest refiner, China Petroleum and Chemical Corp. (nyse: SNP - news - people ), commonly known as Sinopec, surged 4.3%, to 7.57 Hong Kong dollars (97 cents).
(Excerpt) Read more at forbes.com ...
BTW, Cnooc Ltd. (CEO) is trading up over 7% in the US market.
Pelosi and Reid could use a lesson in Capitalism from their commie friends.........
More nails in Marx’s coffin.
Don’t blame the Democrats. Stop blaming the Democrats.
It’s ALL of us.
Each and every STUPID, STUPID, STUPID (did I mention: stupid?) American who voted for every ENVIRONMENTALLY CORRECT dem and rino.
We are ALL to blame.
Too bad STUPIDITY isn’t a priced commodity. The USA would be the Saudia Arabia of STUPIDITY exports. We could build huge STUPIDITY pipelines. We could fill fleets of tankers with our STUPIDITY. Our STUPIDITY exports would satisfy the demand for the entire world.
We really are (and I hate to say this because it means my own demise too) TOO STUPID TO LIVE.
...stupid is as stupid does. (Forest Gump)
Finally China has eased the price controls on gas. That should trigger a spike in inflation (above the nearly 9% inflation they’ve been experiencing), and weaken demand for oil. It will also make Chinese exports more expensive, helping shrink our trade deficit.
The Bush administration’s weak dollar policy is finally paying dividends.
As the dollar rebounds, watch the price of oil pull-back to the low $100 range.
You need to stop using the word WE. You may have voted for one of the bonehead dems or rinos in Congress, but I didn’t.
Sorry. I didn’t mean to imply you voted for any of those knuckleheads. I know I voted for Fred.
I was using the collective “we” since it’s our party, our puke-stupid “Republican” party, that’s gotten us into this mess.
But I didn’t mean to imply anything about you. Again, sorry.
I understand the hysteria...sadly, the Republican Party purged me a while back. I just call myself a conservative now.
A conservative with little to vote for...
I’m still trying to get my mind around the vote in Congress yesterday to sue OPEC over the price of oil instead of voting on a plan for energy independence...
A conservative with little to vote for...How sad. How true. How did this come to be?
My own personal theory is we were hoodwinked by Bush but I admit I could be wrong about that.
I’m still trying to get my mind around the vote in Congress yesterday to sue OPEC over the price of oil instead of voting on a plan for energy independence...It is a level of stupidity that is beyond reckoning, beyond calculation... beyond imagination.
I guess by the logic of the US gov, we should stop graduating petroleum engineers and geologists and increase the number of lawyers.
Just like Muslim countries, we'll have a population that is essentially useless. (That's what the commie-libs want. That's what the NEA wants.)
btt
“My own personal theory is we were hoodwinked by Bush but I admit I could be wrong about that.”
Who knew compassionate conservatism was his term for socialism leading to excessive spending.
Although, given our choices: Bush/Gore and Bush/Kerry...we did the best we could with what we had to work with.
Bush did nail the war on terror though, I’ll give him credit for that.
“More nails in Marx’s coffin.”
-
There’s a striking bit of naivety, on display.
Marx is just getting richer, and more powerful. Richer than us it might be noted. With (our) money.
Nothing else is changing.
Marx is getting richer and more powerful.
We’re sleeping.
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