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Wyoming’s senior U.S. Senator last week introduced legislation to keep China out of American oil reserves, days after the U.S. agreed to sell nearly one million barrels of stockpiled oil to China. Sen. John Barrasso is the lead sponsor on a bill requiring the U.S. Secretary of Energy not to sell oil to America’s geopolitical foes, or to state-owned groups working with those countries. “The (Energy) Department’s sale of crude oil from the Strategic Petroleum Reserve (SPR) to a company owned by China… is inexcusable,” Barrasso wrote in a July 21 letter to Jennifer Granholm, U.S. Energy Secretary.The department on...

Has North Korea run out of credit with China, or has Beijing finally run out of patience with Pyongyang? China’s state-run petroleum operation has cut off fuel sales to rogue nation, Reuters reports, ostensibly due to a lack of payment. However, it’s no secret that the Trump administration has put a lot of pressure on Beijing to get tougher with the Kim regime, and a fuel cutoff will hit Kim Jong-un where he’s most vulnerable: China National Petroleum Corp has suspended sales of fuel to North Korea over concerns the state-owned oil company won’t get paid, as pressure mounts on...

Big U.S. oil is not as big as it used to be. Exxon Mobil has lost its position as the world’s biggest publicly traded producer of oil, according to The Associated Press. That distinction now belongs to PetroChina, a 13-year-old Chinese company created by the Chinese government to secure more oil for that nation’s booming economy, the report said. PetroChina announced Thursday that it pumped 2.4 million barrels a day last year, surpassing Exxon by 100,000, the AP reported.

A big shift is happening in Big Oil: an American giant now ranks behind a Chinese upstart. Exxon Mobil is no longer the world's biggest publicly traded producer of oil. For the first time, that distinction belongs to a 13-year-old Chinese company called PetroChina. The Beijing company was created by the Chinese government to secure more oil for that nation's booming economy. PetroChina announced Thursday that it pumped 2.4 million barrels a day last year, surpassing Exxon by 100,000. The company has grown rapidly over the last decade by squeezing more from China's aging oil fields and outspending Western companies...

The Chinese – and soon Middle East interests – are preparing to buy up oil resources in North America even as "green" interests threaten to short-circuit U.S. access to the same energy, according to a report from Joseph Farah......" While the U.S. State Department has issued a permit for a multibillion-dollar pipeline to carry crude oil from Canada's tar sands to U.S. refineries, environmental groups are threatening to impede its construction. Some are trying to delay the project for years by putting it in the middle of the court system. Meanwhile, the Chinese are in the process of spending billions...

Gas lines in China go have a look.