Posted on 08/31/2009 11:46:49 AM PDT by Clive
While the "China's trade surplus is a good thing" crowd tells us that China won't do anything with their trade surplus except lend it to Uncle Sam at 3%.
Russia and China have partnered to drill in Cuba and Venezuela, and Russia and China are buying up all available oil contracts.
“BTW, the Canadia National Railways has developed techniques for unit train transport of crude oil to anywhere that trains will go, including Arctic, Hudson’s Bay and west coast ports.”
Do you have any further info on this?
Chicaps at work, investing their $$$ wisely
We just sit and let them surround us. We are wittnessing the end of the greatest country that has ever been on the face of the earth.
The West will soon come to regret the day when it helped China become an economic power.
headstamp 2 wrote:
"Do you have any further info on this?"
Here is a hyperlink to a CN site:
BTW I am old enough to think of the railway as CNR instead of its current preference, CN.
Using CN instead of CNR to refer to the railway will avoid confusion with CanArgo Energy Corporation which is an exploration company operating in eastern Europe and the former Soviet Union which listed on the Oslo Stock Exchange under the symbol "CNR" and the us market as CANR.
Well, Carter paved the way for Reagan. Who will follow Obama?
The Chinese are betting on peak oil. So am I.
I'll settle for anything. A Cuisinart... 57 DeSoto... Roger Rabbit.
D'accord
I kind of like Athabaska oil too.
Yep. oil is going up ( 70 to 110)and Sun Corp is the stock to buy along with another little known company called UTS. ( Look it up)
China has $2 trillion in forex to invest. They have to do 1000 deals like this one to meet their needs.
“Well, Carter paved the way for Reagan. Who will follow Obama?”
I don’t see any one of the ‘contenders’ being concerned about China...they’re all globalists.
The plain vanilla fact-of-the-matter is that Venezuela has no other market for the greater part of its oil. Heavy crude is special stuff and is not for the average refinery. The majority of Venezuela's oil can only be processed in the specialist refineries run by Hovensa (a joint venture between US refiners Hess Corp and PdVSA) located in the US Virgin islands, amongst other places. Meanwhile, the USA readily accepts the Venezuelan heavy crude because, without it, the heavy crude refineries would close. There is no other supplier of this special crude available, so the US would lose around 11% of its total domestic oil products supply in one fell swoop. The result is of the 2.15mbpd (million barrels per day) Venezuela pumps presently, 1.35mbpd has to go to the USA. Simply put, without Venezuela, the US refineries will close and the country will have an oil supply crisis. Meanwhile without the USA, Venezuela will have no market for the lion's share of its crude. -- 'Heavy Crude: Why Venezuela and The U.S. Need Each Other, Mark Turner, January 30, 2007
Rumor has it China is done buying our paper.
Well, that's Canada's "dirty oil", we have plenty of Bakken Crude looking for space on the pipeline. This could work well for domestic drilling by opening up some space on the line and removing the thirty dollar a barrel 'discount', which would bring the wellhead price of crude oil from the Bakken back in line with spot crude prices (for the producers) rather than 30 dollars a barrel less.
That alone could be a shot in the arm for domestic drilling, and could be beneficial in the long run for the oil patch and the economy in general.
Carter did the same thing to us. He hated oil. He created shortages and skyrocketing prices. Reagan fixed it.
The only thing that bothers me about tapping into our oil supply before necessary for absolute need, is that globalization will take it from our country’s use. I can see McCain or BamBam letting Russia, Saudi Arabia or China come into the US and take over oil operations.
To me our oil is like a stockpile for an emergency where we can force slimy, anti-American politicians to suspend the globalization of our oil supply to use it slowly, as needed, in North America.
china ping
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