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China is preparing for war.
Lindsey Williams says the elites plan to drive oil over $200 a barrel by whatever means necessary and double cross the Arabs by defaulting on the treasury debt they hold. Book it, it will happen period.!
the one problem i can find with lindsey williams' thesis is that i don't believe in the extent of north american oil reserves that he talks about. and even if he's right, bringing the capacity online will be a long and black swan-prone process. so if the kissinger people wanna try and default on treasuries, i think america will lose a lot of energy and industrial capacity, hastening hyperinflation.
I concur, our Industrial and manufacturing base is crumling, and turning it around will be lengthy and painful
Not if there truly is a WWIII in the making.
US oil reserves are greater than estimated.
Ellis Wyatt is obtaining shale oil cheaper than arab oil with his new technology.
But...he's on strike.
China isn't doing anything of the sort. This whole post is a non-story. China is a massive net IMPORTER of oil. Saying that China is cutting off exports of oil is like saying Finland is cutting off its exports of coconuts. Please.
Let's get back to the collapse of capitalism and the onset of global chaos that's actually underway....
You nailed it. Viet Nam and Indonesia will be squeezed but that's about it.
The only thing of relevance one can infer from this story is that China predicts oil prices to go up (no big shocker there), and that they are increasing reserves to offset future volatility. Increasing supplies is just prudent energy policy meant to preserve economic stability, not a shot across the bow.
One could just as easily commend China for this move, as it insures greater supply chain integrity in the face of potential global economic instability/oil supply shocks. ...But that wouldn't have the same sensationalist fear factor, as "oh noes, shit just got real".
With all of the global economic/political chaos/collapse that's *actually* happening, why does ZH have to jump the shark like this?
I think what they are doing is controlling a corner of the market...China has been investing in oil companies...fields ..and countries..what they are saying is that any oil they are producing around the world goes to them....not the rest of the world...sort of like silver going from registered to Eligible......its not a fungible product anymore....they are trying to corner the world market in every commodity...
It is an inevitable fact when you have multiple personalities at the helm. Thanks for the sanity check!
Sorry dude, you're mixing up 'oil' and 'refined oil products'.
Read the article again. China is cutting its exports of *refined* product, not crude. My guess would be as a domestic buffer against future price increases.
Dude, did you quit taking your medicines again?
classic scene. love that line.
I think that's youns and it couldn't have an apostrophe cause the word has over 4 letters
Demand for sea water is not only high in Japan, but in the House of Saud too.
Libyan = sweet crude
Saudi - sour watered down sludge
The real sludge comes from the Orinoco belt and the Canadian tar sands to feed the US markets.
Sinopec & CNOOC production is still offline in Libya as far as I know, and the firms have also been making investments in Nigerian E&P (land o' bonny light), and just about anywhere else they can find oil.
The Chinese get it and are moving heaven and earth to ensure their supply of oil. Contrast to the idiots running the US asylum. They do everything possible to kill supply until it pisses the voters off. The Child in Chief apparently needs one more term to complete the irreparable damage. Cutting supply also satisfies the Fabian impetus to eugenincs, starvation can rid the world of a lot of undesirables. The new Nazis command the DNC. The world is only fed by the supply of cheap oil.
Owwie, this is going to leave a mark.
This move is meant to control fuel prices and trucker strikes. China is a net importer of oil. They better subsidise too.
Three day old news that crossed the Bloomberg ticker for several hours.
Sinopec is exporting diesel while subisidizing diesel internally.
Sinopec had to cut exports last Nov/Dec for same reasons.
looks like the value of the exports has lost utility value versus the placating of the internal political situation.
Since Sinopec is subsidizing the only interesting point is which princelings or state owned enterprises get the newly available supplies at below market prices?
If Sinpec isn't breaking delivery contracts I don't see this as too noteworthy outside of the small increase in demand due to inefficiencies of subsidies.
Could also be a move to placate the truckers strike going on right now as well.
Bingo! the commie party "leadership" cuts off its "partners" in trading oil &tc for yuan and non-dollars while telling its truckers to hammer down their rubber duckies: we're gonna have us a con-voy!
slewie wants the "i remember the 70's" hat to go with his "$50 BiCHeZ" T shirt!
China has been a net oil importer since the mid 90s, here's a good site that allows you to easily see any country's production and consumption for energy sources (coal, oil, gas, nuclear & hydro):
Well, people will just have to stay home and watch Youtube clips of where they want to drive on their iPads...
They do this because it's a easy way to subsidise their domestic oil and prevent a rioting population.
It sure looks like the chinese inflation still has some room to move up :)
CHINESE FIREWORKS BITCHEZ!!
FUCK SAFETY LABELS!
FUCK SAFETY LABELS!
I must still have sleep in my eyes because I just read this as FUCK SAFETY BALLS! which is not accurate, but is funnier. ;D
Fuck safety anything have you seen the price of cocomuts since Finland quit exporting them?
This is bullshit reporting. How many fucking barrels of oil products have they historically exported?. There is no way to tell from this article what the magnitude of the possible problem is.
China exports about half a million Barrels a day, less than 1%. However Libya exports 1.5 Million Barrels a day and look at how much the market freaked out over that tits up.
meh, that's a drop in the bucket. figuratively speaking, of course.
"Drop in the bucket"? More like the straw that breaks the camel's back.
somebody ask the same question above about Finland and coconuts and now Fiji cannot afford the price of coconuts
This is good news, right? Bloomberg proves again that the Broken Window is the way forward.
Bennie can print the oil futures now with the new Apple applications, everything is under control. Sit back and relax folks...
Yeah, I remember the 70's http://www.youtube.com/watch?v=be_BeqiDigo but, there is a Kink in the things ''just got real''. Shit has hit the fan and already flown off. This is the Shit in your face moment. http://www.debka.com/article/20858/
Just read your link. Lot going on that could get weird.
How reliable is that source?
...about as reliable as the dollar. All kidding aside, who would pay for Paki Rats, that store your reported (2?) nukes, to fight the nuke building Iranians that wan't to blow you up, after you just obtained $60+ billion worth of American arms? It's not as if there is any counter intelligence going on or any pre emptive calls for a Nuclear NonPROLIFEration Nobel Prize manwavers from the likes of Rose Mary's Baby (AKA Hussein of Babylon) and the lunatic fringe. http://www.youtube.com/watch?v=oI8ZoWrUrCs&feature=related I see a Muslim on Muslim war (already on) and a major event. Yes, a quick fearfull slaughter large enough to get all the nations and Israel at the peace table. A false peace that lasts about half as long as the agreement looks about right. An event may happen just in time to affect the 2012 election and the end of QE2, as Comet Elenin is close in September, around the second week, like the 11th possibly eh?
Abdullah will soon be handled. That's pretty much clear richt now.
LET'S GET ALL FACEBOOK ON HIM AND TWITTER HIS ASS!!
That'll show him.
Teach him a lesson he wont soon forget.
that is not allowed in my country without a vail or is it vale or maybe veil. Oh shit just leave by ass alone.
THIS IS AN HUGE DEVOLPEMENT see:
Webster Tarpley: Revolutions or CIA Putsch Campaign in the Middle East? - Alex Jones Tv 1/2 http://youtu.be/ULTap4JbEE4
Webster Tarpley: Revolutions or CIA Putsch Campaign in the Middle East? - Alex Jones Tv 2/2 http://youtu.be/RRpB_Nlx9kQ
'Libyan civilians, new WMD for NATO' http://youtu.be/hWHwwfBbJ1k
Tarpley used to post frequently here, not as an official contributor, but as member. Its been a while since I saw him post a I forgot his screen name. For thest types of issues I always appreciate his perspective.
I usually treat Debka with some suspicion, since it's a long been suspected as a Mossad disinformation source. This report makes a certain amount of sense, if you strip away the over-the-top alarmism. Iran has been meddling in Arabian Peninsula politics lately, so it's logical that SA and others would react with some vigor. Given Iran's military strength, though, SA should be prepared for serious losses in its oil infrastructure if it goes forward with a militry confrontation.
I remember the 1970s very well. Very long lines of cars backed up on the streets at all the gas stations with your license plate number determining whether you could get gas or not. Every other day was the only time you could fill up (odd & even#s) unless ya got creative and "borrowed" someone else's plate and 20 to 40 minute waits to get to the pump.
i'm curious what their impact on the us economy would be in terms of a percentage of daily usage?
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