Not Logged In Log In   Sign Up   Points Leaders
Follow Us    4:32 AM

Message Forum - Read Message

Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: China’s Record Oil Hoarding Seen Keeping Crude Above $100 Back to Topics
NOTSOGRN

Champion Author
Michigan

Posts:2,504
Points:2,046,160
Joined:Dec 2007
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...
Visit Bloombreg for full article
REPLIES (newest first) Post a Reply
Profile Pic
ep3guy
Champion Author Maryland

Posts:1,222
Points:736,325
Joined:Jun 2012
Message Posted: Sep 9, 2014 6:04:33 AM

Ok
Profile Pic
honda0105
Champion Author Tallahassee

Posts:22,950
Points:2,217,065
Joined:Nov 2008
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
Profile Pic
skybiker
Champion Author South Carolina

Posts:9,125
Points:2,121,045
Joined:Jul 2008
Message Posted: Jun 13, 2014 6:16:27 PM

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

Posts:2,919
Points:2,168,395
Joined:Apr 2008
Message Posted: Jun 12, 2014 6:38:11 AM

China is gobbling up world resources.
Profile Pic
kobes1
Champion Author Florida

Posts:5,105
Points:1,161,255
Joined:Aug 2011
Message Posted: Jun 12, 2014 6:19:23 AM

What BS
Profile Pic
Canucktree
Champion Author Alberta

Posts:6,978
Points:1,558,150
Joined:Dec 2008
Message Posted: Jun 12, 2014 1:00:48 AM

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

Posts:4,168
Points:2,602,795
Joined:Mar 2004
Message Posted: Jun 12, 2014 12:41:12 AM

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

Posts:4,405
Points:3,062,760
Joined:May 2005
Message Posted: Jun 12, 2014 12:41:02 AM

old
Profile Pic
Zonk
Champion Author Michigan

Posts:9,055
Points:2,700,900
Joined:Oct 2005
Message Posted: Jun 12, 2014 12:36:52 AM

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

Posts:11,980
Points:2,024,780
Joined:Oct 2008
Message Posted: Jun 12, 2014 12:33:45 AM

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

Posts:11,980
Points:2,024,780
Joined:Oct 2008
Message Posted: Jun 12, 2014 12:32:56 AM

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

Posts:1,970
Points:835,890
Joined:Mar 2012
Message Posted: Jun 12, 2014 12:32:19 AM

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

Posts:6,940
Points:1,502,935
Joined:Aug 2010
Message Posted: Jun 12, 2014 12:30:40 AM

Hmm.
Profile Pic
FEYSO
Champion Author Jacksonville

Posts:15,321
Points:2,889,030
Joined:Aug 2005
Message Posted: Jun 12, 2014 12:28:28 AM

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

Posts:2,888
Points:879,005
Joined:May 2012
Message Posted: Jun 12, 2014 12:27:16 AM

guess they need lots of it
Profile Pic
My08Ram
Champion Author Detroit

Posts:1,164
Points:311,585
Joined:Oct 2013
Message Posted: Jun 12, 2014 12:26:03 AM

Ok
Profile Pic
BobD2009
Champion Author Long Island

Posts:9,557
Points:1,831,310
Joined:Apr 2009
Message Posted: Jun 12, 2014 12:26:02 AM

Bad news as usual from China.
Profile Pic
Bud122CA
Champion Author California

Posts:9,572
Points:2,178,395
Joined:Jul 2008
Message Posted: Jun 12, 2014 12:24:57 AM

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

Posts:5,118
Points:1,279,415
Joined:May 2011
Message Posted: Jun 12, 2014 12:24:14 AM

Greed
Profile Pic
jetskijerry
Champion Author North Carolina

Posts:6,447
Points:1,371,260
Joined:Mar 2011
Message Posted: Jun 12, 2014 12:23:44 AM

crooks
Profile Pic
superscion
Champion Author Miami

Posts:1,971
Points:1,172,135
Joined:Apr 2008
Message Posted: Jun 12, 2014 12:23:02 AM

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

Posts:3,110
Points:760,215
Joined:Aug 2012
Message Posted: Jun 12, 2014 12:22:34 AM

China looking after China.
Profile Pic
bugc
Champion Author Boston

Posts:17,785
Points:3,602,425
Joined:Mar 2004
Message Posted: Jun 12, 2014 12:20:33 AM

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

Posts:4,380
Points:1,803,375
Joined:Jun 2007
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!
Profile Pic
gocatgo
Champion Author South Carolina

Posts:19,041
Points:3,136,735
Joined:Apr 2006
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.
Profile Pic
sbphd
Veteran Author Indiana

Posts:314
Points:234,260
Joined:Jun 2013
Message Posted: Jun 12, 2014 12:17:50 AM

hehe
Profile Pic
Tsunamiron
Champion Author Jacksonville

Posts:3,911
Points:1,154,475
Joined:Mar 2011
Message Posted: Jun 12, 2014 12:17:38 AM

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

Posts:6,287
Points:2,250,125
Joined:Nov 2005
Message Posted: Jun 12, 2014 12:16:12 AM

monkeys
Profile Pic
WhiteNight18
All-Star Author Phoenix

Posts:628
Points:511,785
Joined:Feb 2012
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 ...
Profile Pic
regout
Champion Author Quebec

Posts:5,530
Points:1,434,280
Joined:May 2010
Message Posted: Jun 12, 2014 12:14:30 AM

China the great.
Profile Pic
Glock26
Champion Author Dayton

Posts:4,022
Points:1,213,900
Joined:Mar 2011
Message Posted: Jun 12, 2014 12:14:18 AM

Whatever!
Profile Pic
outdoortechie
All-Star Author Nashville

Posts:812
Points:308,660
Joined:Nov 2013
Message Posted: Jun 12, 2014 12:13:29 AM

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

Posts:1,711
Points:1,100,575
Joined:Aug 2008
Message Posted: Jun 12, 2014 12:11:44 AM

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

Posts:18,586
Points:3,776,400
Joined:Mar 2004
Message Posted: Jun 12, 2014 12:11:30 AM

ok
Profile Pic
24RaceFan
Champion Author Saskatchewan

Posts:2,025
Points:2,255,930
Joined:Jun 2007
Message Posted: Jun 12, 2014 12:10:35 AM

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

Posts:6,304
Points:1,188,670
Joined:Oct 2010
Message Posted: Jun 12, 2014 12:10:34 AM

Dirty bu~stardes..
Profile Pic
jkpsr
Champion Author New Jersey

Posts:5,936
Points:1,574,480
Joined:Jun 2005
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.
Profile Pic
Bradford81
Champion Author Michigan

Posts:1,078
Points:384,345
Joined:May 2013
Message Posted: Jun 12, 2014 12:10:03 AM

No surprise euther way
Profile Pic
reincloude1964
Champion Author Kentucky

Posts:6,236
Points:2,638,160
Joined:Feb 2006
Message Posted: Jun 12, 2014 12:09:38 AM

We can do so much better.
Profile Pic
judgemobile
Champion Author Ohio

Posts:10,181
Points:3,052,135
Joined:Nov 2005
Message Posted: Jun 12, 2014 12:05:10 AM

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

Posts:7,982
Points:2,075,925
Joined:Feb 2009
Message Posted: Jun 12, 2014 12:04:59 AM

Great
Profile Pic
bcok
Champion Author Los Angeles

Posts:3,254
Points:1,969,340
Joined:Oct 2005
Message Posted: Jun 12, 2014 12:04:11 AM

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

Posts:14,803
Points:2,685,170
Joined:Dec 2006
Message Posted: Jun 12, 2014 12:03:35 AM

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

Posts:968
Points:975,585
Joined:Sep 2006
Message Posted: Jun 12, 2014 12:02:59 AM

Shocking!
Profile Pic
obimerrill
Champion Author Cincinnati

Posts:4,046
Points:895,840
Joined:Jul 2012
Message Posted: Jun 12, 2014 12:02:08 AM

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

Posts:6,014
Points:2,478,180
Joined:May 2006
Message Posted: Jun 12, 2014 12:02:07 AM

no help here @ our pumps.
Profile Pic
w1zly
Champion Author Tampa

Posts:1,194
Points:284,035
Joined:Feb 2012
Message Posted: Jun 12, 2014 12:02:01 AM

Old
Profile Pic
MRED3
Champion Author Jacksonville

Posts:5,091
Points:1,249,295
Joined:May 2009
Message Posted: Jun 12, 2014 12:00:30 AM

OK
Profile Pic
clermont40miles
Champion Author Cincinnati

Posts:13,923
Points:2,373,595
Joined:Apr 2008
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.
Profile Pic
ramboid
Sophomore Author Toledo

Posts:136
Points:432,220
Joined:Jan 2007
Message Posted: Jun 11, 2014 11:54:39 PM

Chona is emulating US policy.
Post a reply Back to Topics