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Author Topic: China’s Record Oil Hoarding Seen Keeping Crude Above $100 Back to Topics
NOTSOGRN

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Michigan

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Message Posted: Jun 11, 2014 1:56:14 AM

China is hoarding crude at the fastest pace in at least a decade, shielding itself from supply disruptions and helping keep prices above $100 a barrel.

The country imported a record volume in April as it emulates steps taken by the U.S. in the 1970s to create a strategic petroleum reserve, government data show. Chinese President Xi Jinping is building stockpiles as his nation clashes with Vietnam over resources in the South China Sea and faces potential risks to oil sales from Russia Africa and the Middle East because of sanctions and violence.

The purchases are helping drive oil prices higher, according to Barclays Plc, Citigroup Inc. and Nomura Holdings Inc. As China’s thirst for crude grows with the expansion of its emergency stockpiles and refining, the International Energy Agency...
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REPLIES (newest first) Post a Reply
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ep3guy
Champion Author Maryland

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Message Posted: Sep 9, 2014 6:04:33 AM

Ok
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honda0105
Champion Author Tallahassee

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Message Posted: Jun 15, 2014 7:57:03 AM

sky: as long as it's the SC shores that's fine. Keep it at home :P
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skybiker
Champion Author South Carolina

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Message Posted: Jun 13, 2014 6:16:27 PM

Let's open up our offshore..enough of this ...
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Raider44
Champion Author Allentown

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Message Posted: Jun 12, 2014 6:38:11 AM

China is gobbling up world resources.
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kobes1
Champion Author Florida

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Message Posted: Jun 12, 2014 6:19:23 AM

What BS
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Canucktree
Champion Author Alberta

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Message Posted: Jun 12, 2014 1:00:48 AM

What do they know, that we don't?
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mrjames1818
Champion Author New Jersey

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Message Posted: Jun 12, 2014 12:41:12 AM

not a fan but they are just doing what is right to protect the country
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crreed1
Champion Author West Virginia

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Message Posted: Jun 12, 2014 12:41:02 AM

old
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Zonk
Champion Author Michigan

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Message Posted: Jun 12, 2014 12:36:52 AM

China is going to sell the oil as a substitute for 'soy sauce'.
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granitestater
Champion Author New Hampshire

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Message Posted: Jun 12, 2014 12:33:45 AM

We have a Strategic Reserve. I guess China can too...
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granitestater
Champion Author New Hampshire

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Message Posted: Jun 12, 2014 12:32:56 AM

Hoarding? What are they doing with it? Putting it on their noodles?
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MopedTime
Champion Author Michigan

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Message Posted: Jun 12, 2014 12:32:19 AM

What if we all buying only half the usual Chinese products?
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heartbroken2010
Champion Author Ottawa

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Message Posted: Jun 12, 2014 12:30:40 AM

Hmm.
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FEYSO
Champion Author Jacksonville

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Message Posted: Jun 12, 2014 12:28:28 AM

For those askinv why they are hoarding....for the same reasons we did!!!
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krazkar
Champion Author Calgary

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Message Posted: Jun 12, 2014 12:27:16 AM

guess they need lots of it
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My08Ram
Champion Author Detroit

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Message Posted: Jun 12, 2014 12:26:03 AM

Ok
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BobD2009
Champion Author Long Island

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Message Posted: Jun 12, 2014 12:26:02 AM

Bad news as usual from China.
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Bud122CA
Champion Author California

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Message Posted: Jun 12, 2014 12:24:57 AM

I wonder why China is hoarding oil?
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jerej829
Champion Author Memphis

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Message Posted: Jun 12, 2014 12:24:14 AM

Greed
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jetskijerry
Champion Author North Carolina

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Message Posted: Jun 12, 2014 12:23:44 AM

crooks
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superscion
Champion Author Miami

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Message Posted: Jun 12, 2014 12:23:02 AM

Of course and we are trading with China, why?
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wshokie12
Champion Author Winston-Salem

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Message Posted: Jun 12, 2014 12:22:34 AM

China looking after China.
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bugc
Champion Author Boston

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Message Posted: Jun 12, 2014 12:20:33 AM

They have lots of money..... Ours!
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pa79th
Champion Author Pennsylvania

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Message Posted: Jun 12, 2014 12:20:23 AM

Blame it on the Chinese! Don't even think for a minute of blaming it on the oil companies! Sheesh!
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gocatgo
Champion Author South Carolina

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Message Posted: Jun 12, 2014 12:18:48 AM

Big oil now has a new best friend named China and another possible excuse for a price hike.
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sbphd
Veteran Author Indiana

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Message Posted: Jun 12, 2014 12:17:50 AM

hehe
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Tsunamiron
Champion Author Jacksonville

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Message Posted: Jun 12, 2014 12:17:38 AM

I don't care any about China.
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speedraider
Champion Author Orlando

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Message Posted: Jun 12, 2014 12:16:12 AM

monkeys
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WhiteNight18
All-Star Author Phoenix

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Message Posted: Jun 12, 2014 12:15:40 AM

so what ???
supposedly - ALL of the US production of oil was SUPPOSE to lower prices
& make us NOT dependent on imports ... !!!

so what is the issue ...

yet prices AT THE PUMPS are going up ...
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regout
Champion Author Quebec

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Message Posted: Jun 12, 2014 12:14:30 AM

China the great.
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Glock26
Champion Author Dayton

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Message Posted: Jun 12, 2014 12:14:18 AM

Whatever!
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outdoortechie
All-Star Author Nashville

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Message Posted: Jun 12, 2014 12:13:29 AM

Why are we still buying things from China?
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poetdog73
Champion Author Toledo

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Message Posted: Jun 12, 2014 12:11:44 AM

any way to make $$$$$$$$$$$$$$$$$$$$$$
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bolobill
Champion Author Michigan

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Message Posted: Jun 12, 2014 12:11:30 AM

ok
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24RaceFan
Champion Author Saskatchewan

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Message Posted: Jun 12, 2014 12:10:35 AM

They are looking after their own interests. Too bad someone isn't looking after ours.
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carloco75
Champion Author Richmond

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Message Posted: Jun 12, 2014 12:10:34 AM

Dirty bu~stardes..
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jkpsr
Champion Author New Jersey

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Message Posted: Jun 12, 2014 12:10:17 AM

We should start selling the SRR at, say, $99. Oil price are going to crash shortly, anyway.
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Bradford81
Champion Author Michigan

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Message Posted: Jun 12, 2014 12:10:03 AM

No surprise euther way
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reincloude1964
Champion Author Kentucky

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Message Posted: Jun 12, 2014 12:09:38 AM

We can do so much better.
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judgemobile
Champion Author Ohio

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Message Posted: Jun 12, 2014 12:05:10 AM

Bummer needs someone new to bow down to...
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TheSicilian
Champion Author Jacksonville

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Message Posted: Jun 12, 2014 12:04:59 AM

Great
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bcok
Champion Author Los Angeles

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Message Posted: Jun 12, 2014 12:04:11 AM

you just can't trust them
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Bigwaynef
Champion Author South Carolina

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Message Posted: Jun 12, 2014 12:03:35 AM

Sounds like the Obuma's family...
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ChuckW1
All-Star Author Long Island

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Message Posted: Jun 12, 2014 12:02:59 AM

Shocking!
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obimerrill
Champion Author Cincinnati

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Message Posted: Jun 12, 2014 12:02:08 AM

no surprise there...they are crooks
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PrettyLittleLady
Champion Author Modesto

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Message Posted: Jun 12, 2014 12:02:07 AM

no help here @ our pumps.
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w1zly
Champion Author Tampa

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Message Posted: Jun 12, 2014 12:02:01 AM

Old
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MRED3
Champion Author Jacksonville

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Message Posted: Jun 12, 2014 12:00:30 AM

OK
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clermont40miles
Champion Author Cincinnati

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Message Posted: Jun 11, 2014 11:55:38 PM

China takes care of China. USA ought to do the same.

Keystone oil will likely go to China since BHO & Co. refuse it.
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ramboid
Sophomore Author Toledo

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Message Posted: Jun 11, 2014 11:54:39 PM

Chona is emulating US policy.
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