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Sinopec (China) Cuts Off Oil Exports
04-21-2011, 02:16 PM #1
Shadow Mrs. Buckwheat
Posts:12,775 Threads:1,181 Joined:Feb 2011
Oil Crisis Just Got Real: Sinopec (Read China) Cuts Off Oil Exports

Chinese oil giant Sinopec has stopped exporting oil products to maintain domestic supplies amid disruption concerns caused by Middle East unrest and Japan's earthquake, a report said Wednesday. The state-run Xinhua news agency did not say how long the suspension would last

http://www.zerohedge.com/article/oil-cri...il-exports

coffeetime.gif
04-21-2011, 02:23 PM #2
Octo Mother Superior
Posts:43,371 Threads:1,483 Joined:Feb 2011
o yay, interesting to see how fast that hits pumps and food prices time.gif
04-21-2011, 02:37 PM #3
Shadow Mrs. Buckwheat
Posts:12,775 Threads:1,181 Joined:Feb 2011
No shït eh? I think China accounts for 1% of oil exports, is minimal, but when the balance is so fine in supply and demand and Saudis not making up for Libya's stopping exports, it could have an impact. Even more interesting, why?
04-21-2011, 02:45 PM #4
Octo Mother Superior
Posts:43,371 Threads:1,483 Joined:Feb 2011
Seems to me there's a global agenda to push food prices as high as possible 13.gif
04-21-2011, 02:47 PM #5
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,585 Threads:1,443 Joined:Feb 2011
China gets most of their oil via importation to begin with, they exported just 4.74% of the overall oil supply in 2009, behind Iran, the US, Saudi Arabia and Russia according to this

Most recent stats I could get, and China may well have dropped exports post 2009. At any rate yeah more financial ripples. It doesnt take shït for consumer prices to go up, we all know that.

Things are looking grim on all fronts.

wonder.gif
04-21-2011, 02:49 PM #6
Shadow Mrs. Buckwheat
Posts:12,775 Threads:1,181 Joined:Feb 2011
(04-21-2011, 02:45 PM)Octo Wrote:  Seems to me there's a global agenda to push food prices as high as possible 13.gif

I'm going to be front line there this summer, going to work at the fruit and veggie stand setting up across the road. It's going to be really interesting to see what happens with produce prices. One of my perks is free produce hi5.gif
04-21-2011, 02:52 PM #7
Shadow Mrs. Buckwheat
Posts:12,775 Threads:1,181 Joined:Feb 2011
(04-21-2011, 02:47 PM)JayRodney Wrote:  Things are looking grim on all fronts.

iagree.gif to those paying attention, it's snowballing. Thanks for the link!
04-21-2011, 05:05 PM #8
yankees skier
Posts:5,889 Threads:215 Joined:Feb 2011
(04-21-2011, 02:45 PM)Octo Wrote:  Seems to me there's a global agenda to push food prices as high as possible 13.gif

I agree, too much coordination in this.
04-21-2011, 05:24 PM #9
Kreeper Griobhtha
Posts:10,850 Threads:656 Joined:Feb 2011
More than just food prices will be affected. EVERYTHING has fuel costs included somewhere.

It still doesn't make sense to me that a country that imports oil would export oil.

.

Politicians hide themselves away
They only started the war
Why should they go out to fight?
They leave that role to poor



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