CHINA and KUWAIT : believe it involves ...

[Gary Allan]

Not much in the lower 48 proper. There may be some offshore.

 

[Kruse]

 Originally Posted By: Gary Allan

Not much in the lower 48 proper. There may be some offshore.

Yea. Too bad that in the last few months a lot of drilling leases have been yanked. I guess by 2016 it won't matter. On a different note, I've got an '83 Chevette diesel 5 speed that I'll have to throw a tag back on it. I'm sure the greenies would be proud of it.....until they follow it in traffic and take a deep breath.

 

[1993_VG30E_GXE]

You have some oil, just not very much left. Most of it was used up already. Canada's close by though...your biggest supplier.

 

[LTVibe]

China's Sinopec To Acquire Canada's Addax Petroleum Looks like China is doing everthing necessary to secure its future petroleum needs, unlike a certain country between Canada and Mexico.

 

[Steve S]

 Originally Posted By: LTVibe

China's Sinopec To Acquire Canada's Addax Petroleum Looks like China is doing everthing necessary to secure its future petroleum needs, unlike a certain country between Canada and Mexico.

Over the years the politicians have sold out this country the highest bidders cept poeple only worry about Michael Jackson and Farrah Faucett[sp]

 

[Steve S]

 Originally Posted By: 1993_VG30E_GXE

You have some oil, just not very much left. Most of it was used up already. Canada's close by though...your biggest supplier.

So the U.S. should send in troops to chase out the terrorists and protect the oil?????

 

[Shannow]

They've got oil and Uranium...just add a "stan" on the end of the name and you are set. Just had a thought, if China is producing petrol, does that mean that leaded is going to make a comeback ?

 

[LTVibe]

 Originally Posted By: Shannow

Just had a thought, if China is producing petrol, does that mean that leaded is going to make a comeback ?

Interesting question, so I had to do some Google-ing. China banned leaded gas 9 years ago: http://www.junkscience.com/sep98/chinlead.html

 Quote:

The State Council, China's highest government body, said gas stations will have to replace leaded with unleaded by July 1, 2000, and car companies will have to produce vehicles adapted for unleaded gasoline, the state-run Xinhua News Agency said.

http://www.unep.org/pcfv/PDF/PubMWalshBrochure.pdf

 Quote:

...China has embarked on a national strategy to eliminate leaded gasoline entirely before the year 2000.

Off topic, but a surprising find: California Uses More Gas than China

 

[ZZman]

They need refineries too. They are using a huge amount of oil/gas. But I am afarid they will skip the pollution controls and make their country even worse.

 

[Gary Allan]

All the better to sell them pollution control technologies ...

 

[1993_VG30E_GXE]

What do you mean? The US secured it's petroleum needs by the Canada/US relationship a long time ago. Nobody would cut off one of their biggest customers. I think the media plays a big role in fear mongering...the fears of china etc..., I just don't beleive it's that real. News will sell out the US citizens first. Create fear at times, to induce selling or caution....maybe to keep the market heading in a certain direction? All you may see is a further downsizing of the exuberance way of living for a lot of Americans...not total destruction armaggedon and end of the world. One bad outcome though is the increase of the gap in the 2 tier system of the haves and have nots. It's not good. Think about it like this...what's happening right now, is actually a good thing. If you have kids you want their world to be better than today right? So all this excess has to be taken out or start to come out (what we are doing now is CLEARLY unsustainable)...so time to fleece the baby boomers who created this mess and got used to all the passive income. Alot of them sit long term and never sell, so they aren't really losing because it was never theirs to begin with. It's deeply engrained in their way of thinking to 'hold on for the long pull'. Alot of it has to do with the oil market - and the gains made in the energy sector. In my opinion most of it is because of 'them'...our parents generation, whether they know it or not, BUT, even if they knew it at the time, you couldn't do anything about it...so blaming them doesn't really solve anything. The market will take care of the excess. I have faith in the capitalist system, even as vile and disgusting as it is in reality.

 

[smokey1]

CHINA has been talking with CHAVEZ as well . CHINA is in need of more oil tankers to ship it back to it's mainland . Once they have more tankers the more of a concern to us .

 

[LTVibe]

 Originally Posted By: 1993_VG30E_GXE

What do you mean? The US secured it's petroleum needs by the Canada/US relationship a long time ago. Nobody would cut off one of their biggest customers.

My post was not meant to imply any problems in the Canada/US relationship, but to indicate the difference between China and the present US government's approach to future energy needs. China has all options on the table. They know that renewable and 'green' energy sources will come, but not soon enough or in sufficient quantities to satisfy their rapidly growing economy. Therefore, they are making sure they will have enough petroleum available during the slow transition to "clean" energy. The present US administration will resist doing anything about the untapped coal and oil reserves in the US, and will attempt a rapid transition to clean energy. But the global demand for oil will continue to increase for years to come before it peaks and then declines, and refusing to take advantage of untapped reserves we have and need now may lead to eventual shortages and price spikes.

 

[Steve S]

 Originally Posted By: Gary Allan

All the better to sell them pollution control technologies ...

Why should they buy it?

 

[Shannow]

They are voluntarily installing new units, of a higher efficiency than any coal fired plants in Oz (or the US), complete with NOx and SOx abatement technologies.

 

[smokey1]

oil consumption in CHINA was up 6% this MAY compared to last MAY . They're on the up and up . While we're down and out .

 

[LTVibe]

This article appeared 4 months ago: China To Bolster Oil Reserves

 Quote:

China is accelerating the build-up of its oil reserves to avoid the economic dislocations the country suffered in 2008 from fluctuations in the world oil price. China's National Energy Administration (NEA) recently released a plan to build nine large refining bases in coastal areas over the next three years, sources with the China Petroleum and Chemical Industry Association said last week.

We need to do what China is doing, and for the same reasons. But B.O. and friends won't let it happen.

 

[Tempest]

Yep, China isn't buying into the global interdepence crud that the Western countries are. They are being smart, and we will suffer for it.

 

[PandaBear]

 Originally Posted By: Steve S

 Originally Posted By: Gary Allan

All the better to sell them pollution control technologies ...

Why should they buy it?

Because pollution in China is way worse than you can ever imagine. Their people are complaining too.

 

[PandaBear]

 Originally Posted By: LTVibe

We need to do what China is doing, and for the same reasons. But B.O. and friends won't let it happen.

We have been buying left and right, but we were using them up so fast that there is no way you can buy much more. The investment banks were the owner of >50% of the oil storage capacity, and send the oil price sky high last year. Why should we be buying when there is a price fixing going on? We did that during the 2nd Gulf War when the price was very high, now we have huge inventory in the state in the private sector, and that's sufficient.