China halts all oil imports from US amid escalating trade war.
America’s second-largest oil client, China, has completely stopped buying crude from the United States as trade tensions between the world’s two largest economies continue to grow.
While oil has not been included on the list of bilateral tariffs, Chinese refiners have been staying away from buying crude from the US.
rt.com
DUMB Donny. LMAO
Hahaha little boy. Now China is in debt and buying oil for higher prices with other countries. The US oil is being marketed now more than ever to our own country. There is no net loss! Poor China is in a deadfall! Too bad!
This will have no impact on the US. The market is too thirsty. Others will sell to China and we will sell to others.
>has completely stopped buying crude from the United States
That's good you stupid faggot. American resources for America.
KYS. It’s a fungible global market. They will buy US oil by proxy, or they will pay more from other exporters forcing other consumers to buy US oil. Either way, total demand and spot market will increase at worst, remain same at best.
>Now China is in debt and buying oil for higher prices with other countries.
you realize that you made a very stupid comment, do you?
>Meme flag
obvious Chinese proxy
more Oil for USA and our true allies. not (((them)))
>or they will pay more from other exporters
Another stupid American not knowing that oil is sold and bought at International set prices.
This.
It should be against the law for the US to sell commodities to communist countries anyway.
>that oil is sold and bought at International set prices.
Wrong. You stupid, kike, faggot.
Good. Don't buy anything from American businesses, it will escalate the coming civil war where lots of Americans die again for their niggers and other sub human trash.
China is the debt country kid, don’t know why you don’t know that but all I can say is 30+ to post newfag
so Oil prices are about to go down?
Lets halt ALL Chinese products then.
you have the entirety of human knowledge at your fingertips and you're still this dumb
Actually pretty sure this faggot is a Russian. He does this shit all day for the last like 4-5 months
here's why. note the heat map at the end.
youtube.com
>China is the debt country kid,
And your shithole is debd FREE?
Right??
NO A FUCKING CHANCE.
They will go up, and soon.
Couple of weeks ago OPEC said, BIG FUCK OFF to Trumps request to lover the prices before midterm elections.
Read the fucking news.
>doesn't know the difference between a benchmark and a fixed price
>doesn't know that only 2/3s of the world's oil uses brent crude as a benchmark
Cheaper oil prices-Trump wins again!!
Why don't you show us your flag so we can all laugh at your shithole country?
>cheaper oil for us
wooooow im so angery
Not applicable in this case you retard.
Educate yourself next time you post something stupid.
...
>188054353 why do the people who post RT articles never show their real flag?
less demand = lesser price = americans pay less = people buy more gas = drive more = more useage of gas = fuck china
> stupid
That post
That flag
>They will go up, and soon
And then the US fracking producers turn on the rigs, flood the market with supply, and drive the price back down.
Sorry you commie, kike. You have no way to win in this scenario.
We have feedback loops in case our dollar goes defunct. We’ve worked on a replacement currency already too but you wouldn’t know about that because you’re a memeflag lardass.
China has no backup plan for when their economy goes tits up, cunt. Their leaders have already purchased land to be used after 1 billion enraged chankoro niggers run amok and starve. You get chemical burns in your throat in 30% of their cities and the state run media says London is way worse. 80% of China’s water isn’t even able to be used in factories. China now imports more food than it produces and that’s going to ruin their house of cards forever, reverting them to regionalism.
You’re such a fucking faghot kid.
great memeflag post
just kidding, no such thing exists
sage
>American Oil Produces
>More output than ever
>World's largest oil production ever
He totally fucked them goy. You have to believe me. I has a degree.
No
Now China will buy more Iranian oil.
Iran dodges lumpy idiot sanctions, China gets cheaper oil, Lard brains lose more jobs and DIE of starvation/cold
>China is hurting the US by refusing to buy their inexpensive stockpiles of the most vital industrial resource there is
Swing and a miss, OP.
Nice meme flag retard
Even China is MAGA. I thought China was our enemy.
BLUMPF STUPID! IMEPEACH!
It absolutely is applicable in this case, check the price difference between WTI and Brent you dumb faggot. If you ain't buying with WTI as a benchmark you're buying Brent. Oil prices ARE NOT fixed, period, full stop, end of story.
thats a more efficient setup than shipping oil across the pacific.
no reason both countries cant win on this.
ok so we have excess oil china not buying. price goes down cuz supply and demand. Americans pay less 4 fuel. Big win but OP very stupid libshit who cant economics.
>RT
lmao
lmao it's okay we'll be fine
China now has to pay more for gas as there is less competition and were now selling oil to Germany instead of them getting it from Russia. FUCK CHINA who gives a fuck
Did OP fuck off because we called him on his bullshit?
Meme flag fag.
Shill.
Less so than yours and your fake vassal country.
Is this going to result in destroyers ramming each other or is this just a big meme?
Are you high? I know I am, but even I know that since we learned how to derive oil from shale and fracking, we have more oil than what we know what to do with. Hopefully, fueling the fire of the furnaces of the Fourth Reich...
>Forced into business with Iran.
Arent they leasing an Israeli naval port? Things could get complicated. Welcome to the world stage.
you know shit about fracking oil and cost of that oil.
you are so dumb and uneducated, typical american burger face.
Now China will buy Oil from the Ruskie's and USA will become the main hub oil producer for all of Europe.
Shipping lines over the Atlantic will see intense oil shipping traffic over the next few years.
Fucker I need to order some parts for my computer.
He had to to ask the commissar for proper Party direction on getting BTFO.
That is literally a good thing. Turn on your regional flag
you'll be just don't keep anything in cash. get yourself some resources
No, I'm just not responding to idiots like you.
But you just told me oil prices are going up. Either oil prices are going down and nothing you say matters or prices are going up and those fracking riga are coming on and supply is going up.
Which is it faggot? I'll let you pick.
...
>China stops buying our oil
>starts buying from somebody else
>US oil price briefly drops due to decreased demand
>Oil from whoever China is buying it from goes up due to increased demand
>Other people who have no trade dispute with us now stop buying it from the supplier they had before and buy from US producers offering lower prices due to a glut of supply
>Prices go back up for us and down for the other supplier as things equalize
>Literally nothing changes in the long term
Seems like a big nothingburger. One advantage of the global economy is if one country doesn't want to buy your oil, there are hundreds of others out there to sell it to.
wow you a special kind of idiot. u know our workers make 10x the salary of those countries that produce cheaper oil? adding to our tax base and gdp? retard.
you are too brain dead to understand what I posted, that's all.
>cannot back up claims
>everything posted is refuted
>”No, I’m just responding to idiots like you.”
OP is a faggot
>hooking up a hose from my 1969 Chevy Nova V8 exhaust pipe to the gas chambers.
American producers aren’t in OPEC
Looks like you've run out of arguments and are now resorting to insults like a faggot so why do you just show your flag so we can end this thread by laughing at you and your shithole country
>h-he didn't say Trump is based an redpilled! Donald doesn't make mistakes, he's literally perfect! REeeeee shareblue shills out in full force REEEEEEEEEE
consider t_d, blind follower cultist retards
On top of the points given by other anons, you dont think we wont perfect this process, making it more efficient and less costly? We've only been doing it for a decade or so, we have a standard fuckton of shale, and we're just getting started
Fucking meme flaggot
I know that if they actually taught you dog eating monkeys how economics work you would be having your 500th civil war by now but let me explain this so even a subhuman insect such as yourself can understand: there is literally no possible way that if the oil prices rose the US would not then produce more oil. An increase in supply then results in a decrease in price if demand remains the same. There is no way that this can go where the United States as both the largest producer of oil, and the largest consumer of oil, does not benefit from any flux in the market.
this issue doesnt concern you. why do you think your opinion matters?
hows trudeau's cum taste faggot
Test
How does this hurt American oil producers? Sell the oil on the open market.
Fuck China.
Also enjoy poisoning your water tables with your fracking technology you idiots. LMAO
He hasn't been able to work that part out yet. His handler hasn't told him yet.
anything that is hard on China is good for us, we need to drive China into the dirt
>America has more oil to sell within the US at cheaper prices
>a multi national multi billion dollar company has a slight reduction in their bottom line until they realize the money they save selling locally and not shipping oil to the opposite side of the planet.
Dont see a problem.
Why don't you tell us about the dangers of global warming while you're at it retard
BASED magapedes AWOOOOOO
China is 5 different cultures combined. Trump might actually destroy thier central communist regime and splinter them into 5 countries. but you commie fags in north america would hate that.
China’s real problem is US crude is the best quality, thier refinery infrastructure isn’t sophisticated enough to refine lesser quality crude. They will end up hurting themselves in the long term because their production will vastly decrease.
But.. you do realize China's oil imports from the US is like 2% of their total oil imports, right? It's not like this is anything major.
Poo in the loo detected
Damn, now U S markets will be saturated with a surplus of oil! Whatever shall the citizens do!?
rt.coN link click baiting again
KYS faggot
China only imported 2% of its oil from the US. This is just another globalist propaganda hit piece for the retards to gobble up.
Russia: US$23.7 billion (14.6% of China’s total crude oil imports)
Saudi Arabia: $20.5 billion (12.6%)
Angola: $19.8 billion (12.2%)
Iraq: $13.8 billion (8.5%)
Oman: $12.2 billion (7.5%)
Iran: $11.9 billion (7.3%)
Brazil: $8.8 billion (5.4%)
Kuwait: $7.1 billion (4.4%)
Venezuela: $6.6 billion (4%)
United Arab Emirates: $4.1 billion (2.5%)
United Kingdom: $3.6 billion (2.2%)
Congo: $3.44 billion (2.1%)
Colombia: $3.37 billion (2.1%)
United States: $3.2 billion (2%)
Malaysia: $2.6 billion (1.6%)
So we sell it to the other 150 oil-using countries.
Secondly, if demand falls by China withdrawing, US consumers will get cheaper gas prices due to a glut of production. Oh no.
In any case, I'm growing more convinced that the problem with doing business with China is not simply the trade deficit. A deeper underlying issue is the security problem caused by having such huge supply chains, especially in regards to technology, going into and out of China. This has afforded China the opportunity to bully American companies, stealing their patents and technology, or even to infiltrate and corrupt US technology products. See the following story:
The problem with doing business with China isn't that we have a bad deal. It's doing business with them in the first place. They can't be trusted. The more we decouple our economy from theirs - even if it is painful - the better off and more secure we'll be in the long term.
Do you have an actual argument for why lower oil prices in the short term is a bad thing for US consumers, or why in the long term this wouldn't have a detrimental impact on oil prices and producers?
And there are going to be pain points with these tariffs. But as long as it's nothing US consumers and industries can't temporarily bear, it will give us much more leverage at the negotiating table with Beijing and will hopefully result in a trade deal that is more equitable and fair for the US than what we've had for the last couple decades.
It seemed to work with Canada and Mexico, Trudea was basically begging the Mexican president not to allow a bi-lateral deal to happen and Canada be excluded. Trump will use the success of the USMCA as a template for trade deals with EU and China.
Thank you for the numbers but they were unnecessary. It was already abundantly clear to everyone ITT that OP is a drooling , commie, retard that can't into economics.
>A deeper underlying issue is the security problem caused by having such huge supply chains
This is a big one. China had gotten away scot-free with stealing our IP for far too long. And if USMCA is any indication, protecting intellectual property is something Trump's administration takes very seriously and will hopefully be a major part of any trade deal with China as well.
isnt texas in an oil glut right now?
HOW WILL WE EVER SELL THAT OIL NOWWWWW!!!
DRUMFS FINISHED!!!!!!!!!!!!!
China has oil futures set prices in Renminbi.
Started this year and theyve been looking for an exit from the petrodollar, this is their attemp.
I also believe this is the real reason for the tariffs on China. I dont expect anything to change until china abandons their oil futures venture.
The US is generally. The only reason the prices have been going up is because the rest of the world has been cutting production drastically either due to a need to drive up the ppb or sheer incompetence in the case of places like Venezuela and Iran.
The petrodollar as a coordinated policy by the US is a meme, user.
Nobody has bought US oil since the 60s
While the production increase is readily available, there is a shortage of pipeline access from West Texas to the refineries on the Gulf Coast. It will be a while before midstream can handle upstream production.
He's not interested in selling it, we'll need it soon. When do we stockpile oil? Any guesses?
Because of globalist environmental laws.
Crude exports are parabolic.
That graph has not been adjusted for what China just did. Lets see how this plays out. China buys roughly 122 million barrels from us annually.