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News & Current Events Discuss Another Victim of the Trade War: U.S. Oil Exports to China at the General Forum; https://www.bloomberg.com/news/artic...itter-politics One good thing that could come out of this is China will finish pushing its alternatives through and that ...

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Old 09-28-2018, 11:08 PM
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Default Another Victim of the Trade War: U.S. Oil Exports to China

https://www.bloomberg.com/news/artic...itter-politics

One good thing that could come out of this is China will finish pushing its alternatives through and that will be better for individual health and the planet.

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U.S. oil exports to China are becoming a casualty of Donald Trump’s trade war with Xi Jinping’s administration.

Unipec, the trading unit of top Chinese refiner Sinopec, has put a plan to boost U.S. crude imports on hold as it assesses the impact of the Asian nation’s trade war with America, according to company President Chen Bo. It previously planned to raise volumes to 500,000 barrels a day in 2019, compared with 300,000 barrels daily from January to August this year, he said.

The reluctance to boost purchases shows how the trade war between the major economies is reverberating in the world of energy trading even though crude isn’t yet subjected to tariffs. Buyers are already bracing for higher prices and a supply crunch due to impending American sanctions on Iran. Unipec’s caution means China -- the world’s biggest oil importer -- may not be able to fully take advantage of booming output at U.S. shale fields. _____read more at site
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Old 09-29-2018, 03:54 AM
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Default Re: Another Victim of the Trade War: U.S. Oil Exports to China

I don't think we should be exporting our oil to any country. Stretching the supply thin because we are trying to export oil to other countries is going to cause our supply of oil to deplete faster and stretch much thinner. Which also means higher prices for us.
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Old 09-29-2018, 09:34 PM
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Default Re: Another Victim of the Trade War: U.S. Oil Exports to China

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I don't think we should be exporting our oil to any country. Stretching the supply thin because we are trying to export oil to other countries is going to cause our supply of oil to deplete faster and stretch much thinner. Which also means higher prices for us.
I wondered about that myself. We were in a crises for oil; now we find some and gonna sell it. wt heck
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Old 09-30-2018, 04:04 AM
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Default Re: Another Victim of the Trade War: U.S. Oil Exports to China

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Originally Posted by saltwn View Post
I wondered about that myself. We were in a crises for oil; now we find some and gonna sell it. wt heck
Kind of like how they tell us for years they need to drill for more oil and frack more wells so that we can get oil prices low. Then when they are low they scream bloody murder how low the prices are and how prices need to be this high for fracking to remain profitable. A lot of if its probably just a scam to get the public to support more drilling and fracking so they can sell more oil abroad.

Kind of like the keystone oil xl pipeline. They use eminent domain to take people's property(which seems to be largely ignored by most who oppose it) to try to build it. The companies try to tell us its to lower oil prices and provide a ****load jobs when in reality that oil is for a foreign market and the jobs it provides are minuscule or temporary.
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