Posted on 03/27/2022 3:42:54 PM PDT by ameribbean expat
Fears of sanctions related to Putin's war on Ukraine drove the decision to end the project.
(Excerpt) Read more at forexlive.com ...
“China has been a supporter of Russia’s invasion but the prospect of economic damage appears to be triggering a change of view. Firms such as Sinopec will abide by Chinese Communist Party foreign policy. Sinopec execs will have received instructions from the CCP on this. Of all the ‘turning points’ touted in Russia’s war on Ukraine the withdrawal of support from China will be a significant one.”
I had just finished seeing a comprehensive analysis of the impact of the sanctions and of companies pulling out and they are just so screwed over. This will be worse than the collapse in 1990.
Don’t worry—after China invades Taiwan you can start ranting about pro Xi Freepers.
Don’t forget the mandatory two minutes of hate, citizen.
And this gem from LesgoBrandon..
Biden's pursuit of Venezuelan oil while shunning US energy and Keystone XL slammed: 'climate craziness'
Venezuela's oil is heavier, dirtier, and more difficult to extract than US or Canadian oil
My “comprehensive analysis” is that your financial posts follow the Mockingbird mass media “rule of opposites” criteria.
Whatever you post here is likely to be the exact opposite of what is going on....
Now get all sore just because things keep blowing up in your boy Pooty’s face. He should do the honorable thing to save Russian by offing himself.
I’m not sure that Venezuela oil, even with its less desirable qualities, is as environmentally destructive as Canadian tar sands strip minning.
Good thing China never lies
Perhaps the Saudi’ deal was a better one....
If Saudi continues to move forward in dealing yuans as it engages with China for oil and other Asian countries - the dollar may very well end up in the gutter.
They’ll do it under the table. We took off tariffs for 350 items. The chis are laughing all the way to the bank...and in some case, the tariffs went directly to producers and I believe farmers are one group that benefited from the tariffs.
Ya think??
They will need investment to give Russia the ability to export that gas to China.
https://i.pinimg.com/originals/61/41/85/6141856afa14ba1c000274d52d4b0ae7.png
How will they receive that gas? Nat gas isn’t like petroleum, you need a lot more infrastructure to make it work. Its more like hooking up to a utility than buying a commodity.
True...interesting though.
Venezuelan crude has to be processed by refineries with cokers. Not all refineries have cokers to handle heavy crude.
Most of ours are along the gulf coast.
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