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How Soaring US Oil Exports to China are Transforming the Global Oil Game
Reuters via gCaptain ^ | 02/09/2018 | Henning Gloystein

Posted on 02/10/2018 10:43:27 AM PST by Oatka

[Reuters] Bit by bit, the U.S. petroleum industry is turning world oil markets inside out.

First, sharp drops in U.S. imports of crude oil eroded the biggest market that producers like OPEC had relied on for many years. Now, surging U.S. exports – largely banned by Washington until just two years ago – challenge the last region OPEC dominates: Asia.

(Excerpt) Read more at gcaptain.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: china; drillbabydrill; energy; oil; opec; palinwasright
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Almost every paragraph is a win-win for the U.S.
1 posted on 02/10/2018 10:43:27 AM PST by Oatka
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To: Oatka

“Now, surging U.S. exports – largely banned by Washington until just two years ago – challenge the last region OPEC dominates: Asia.”

Allright!

Hopefully “climate change” goes the same way as “peak oil” did.


2 posted on 02/10/2018 10:55:34 AM PST by JPJones (More tariffs, less income tax.)
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To: Oatka; Army Air Corps; beaversmom

Drill Baby, Drill!


3 posted on 02/10/2018 10:56:04 AM PST by KC_Lion (If you want on First Lady Melania's, Ivanka Trump's or Sarah Palin's Ping Lists, just let me know.)
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To: Oatka

Wouldn’t this increase the royalties land owners receive from the oil companies involved with the gas industry ?


4 posted on 02/10/2018 11:03:08 AM PST by knarf (I say things that are true, I have no proof, but they're true)
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To: Oatka

All part of the MAGA plan, and equally if not more important than what gets passed by the clowns in DC.


5 posted on 02/10/2018 11:06:23 AM PST by bigbob (Trust Trump. Trust Sessions. The Great Awakening is at hand...MAGA!)
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To: Oatka

Now if we can increase our shipments of CNG/LNG and LPG to Asia and take that market from the Russians....


6 posted on 02/10/2018 11:08:40 AM PST by datura
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To: Oatka

Is this petroleum trade large enough to bring our balance of trade with China back toward equilibrium to any noticeable degree?


7 posted on 02/10/2018 11:13:42 AM PST by Tucker39 ("It is impossible to rightly govern a nation without God and the Bible." George Washington)
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To: Oatka

If we put a modest export tariff on crude oil, an amount that would still leave the oil at a competitive price, we could start retiring the national debt.


8 posted on 02/10/2018 11:20:08 AM PST by captain_dave
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To: Oatka
WHY are we selling oil to China?

I realize that there may be some economic/geopolitical reason for doing so, and if there is, someone please explain it for me -- but wouldn't it be better for our country (and cheaper for U.S. oil companies) to sell that oil right here at home, hopefully driving down domestic fuel prices? Instead of selling to a country that is not really our friend on the world stage.

9 posted on 02/10/2018 11:20:32 AM PST by NewJerseyJoe (Rat mantra: "Facts are meaningless! You can use facts to prove anything that's even remotely true!")
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To: Oatka

Its part of the reason why Mohammad bin Salman in Saudi Arabia had to curb the power of the thousands of princelings in Saudi and also force the to pay back much of their skimmings from the Saudi State.

The Kingdom is going bankrupt.

That’s a very good thing, IMHO


10 posted on 02/10/2018 11:22:16 AM PST by PGR88
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To: PGR88

SA has issues with their economy’s dependency on petro revenue, granted.

However, Wall Street and the US government will *not* allow the kingdom to go bankrupt.
Death of the petro-dollar is unfathomable to Wall Street and the US Fed Gov.


11 posted on 02/10/2018 11:37:02 AM PST by Original Lurker
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To: captain_dave
If we put a modest export tariff on crude oil, an amount that would still leave the oil at a competitive price, we could start retiring the national debt.

Go read Article I, Section 9 of the US Constitution and report back.

12 posted on 02/10/2018 11:48:45 AM PST by FirstFlaBn
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To: FirstFlaBn

Okay....change that to an excise tax.


13 posted on 02/10/2018 12:19:52 PM PST by captain_dave
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To: captain_dave

Oil is already sold at a competitive price. How does adding a tax to the selling price not make it less competitive? Sounds like a typical liberal shell game. Let’s add a small tax and earmark the proceeds for debt retirement. Oh yeah and Social Security is in a trust fund.


14 posted on 02/10/2018 12:31:01 PM PST by FreedomNotSafety
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To: Tucker39

Actually, that is not required.


15 posted on 02/10/2018 12:34:05 PM PST by bert (K.E.; N.P.; GOPc;WASP .... The Fourth Estate is the Fifth Column)
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To: NewJerseyJoe

You sell to the highest bidder and you buy from the lowest offer. To do anything else is stupid.


16 posted on 02/10/2018 12:38:39 PM PST by FreedomNotSafety
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To: NewJerseyJoe

In one word, fungible.

https://en.wikipedia.org/wiki/Fungibility


17 posted on 02/10/2018 12:40:46 PM PST by DUMBGRUNT (This Space for Rent)
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To: Oatka

18 posted on 02/10/2018 12:44:06 PM PST by RightGeek (FUBO and the donkey you rode in on)
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To: NewJerseyJoe

Because we can charge more for it. At least in the case of lng.


19 posted on 02/10/2018 1:10:55 PM PST by 03A3 (FTNFL)
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To: Oatka

I read somewhere that China signed a contract for the delivery of large amounts of LNG from the US. I guess they are ready to clean up their air pollution. The LNG should be delivered with certain political conditions attached.

LNG is the preferred fuel of the future, worldwide.


20 posted on 02/10/2018 1:21:39 PM PST by 353FMG
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