and, apparently, they're barely touching their reserves. This explains why oil prices aren't higher.
>>62337006
>>62337006good for them. they're finally taking global warming seriously.
Related
>>62337006Hehe cute monke
Why are you so obsessed with their oil, op?
>>62337038Well... unfortunately, this will not help reduce global warming, because the substitute for oil is coal.Using coal to make petrochemicals releases more greenhouse gases than when using hydrocarbons, at least when using the currently most economical processes.The motivation is to increase supply security rather than to reduce global warming.
>>62337085Because it explains why oil prices aren't higher right now, despite the loss of ~12 million barrels per day from global supply. The near-term price elasticity of demand for oil turned out to be a lot higher than thought.The main reason for this is China's surprisingly elastic demand for oil, which absorbed the bulk of global demand destruction. What is worth noting is that China's highly elastic demand is due to substitution; they are not tapping reserves. Also, China's economy is apparently not taking any meaningful damage from this; China's PMI was 50 in May. So China's highly elastic demand is not on a timer; it can remain like this indefinitely.
China won.USA lost.
>>62337159Well, if the US' intent is to seize full control over the super-majority of the world's oil supply at the source, and then use control of the spice melange to control the world, they better hurry up, because the window of opportunity is closing fast
>>62337152>I believe the chinese numbersIts all fake, anon. Haven't you figured that out yet? I dont think corrections happen other than for whales to reposition.
>>62337261Apparently the Chinese population numbers are fake too
>>62337261The oil import data is not China's official data; it is from analysts who track the ships.The oil reserve data is from Ursa Space, which uses satellites to look at the storage tanks (I assume they look at floating-roof tanks and roofs made of radar-transparent materials). China does not publish oil reserve data.PMI is based on surveys to companies.
albertbros...
>>62337295S&P Global / RatingDog China PMI was actually 54 in May
>>62337301I don't get it...?
>>62337059They do have a lot electric cars.Now if electric cars actually work without their batteries breaking down and requiring oil to fix then it's all good.
>>62337295So there's no recession coming, no rate hikes probably, no real issues, because nobody in the world needs the oil.China produced too many BYDs and they'll end the oil shortage with those.
>>62337261Did the Chinks fake the oil futures as well?
>>62337006Thorium salt reactors are coming online Fission is here
How does this affect the price of Chainlink (ticker: LINK).
>>62339010 Bill gates startup is getting closer. Copenhagen company is trying to scale production, China has finished or is close to finishing a TSR massive container shipping vessel The us could’ve had this tech in the 50’s but for some reading they shut down thorium reactions back then at oak ridgeTraditional narrative defenders say it’s only because we couldn’t weaponize thorium like uranium, which is part of the reason but I doubt the whole reason <iframe width="400" height="30" src="https://corbettreport.com/?powerpress_embed=274423-podcast&powerpress_player=mediaelement-audio" title="Blubrry Podcast Player" frameborder="0" scrolling="no"></iframe>James Corbett has done great interviews on the subject>in case the embed didn’t workhttps://corbettreport.com/the-thorium-solution-solutionswatch/
>>62337006Gooks BTFO Plump won Chinks lostAnother century of humiliation
>>62339033Instead of saying stupid garbage like>durrrr drumpf wonWhy don’t you focus on making America not into a shithole You jews are destroying this country
>>62337006>>62339033they're fucked
>>62337295>Ursa SpaceAffiliated with China. Their interests lie in China therefore it will take anything China spits on them. Fuck you, CCP shill or agent.
>>62337006oil and gas shock in augustinflationai bubble popprove me wrong, goy
>>62339010>>62339028China's SINAP is furthest ahead in TMSR - they have a running reactor right now and a second one under construction - and they don't even plan to have a commercial reactor running before 2035CSSC's nuclear container ship is only in planning stages
>>62338405China's demand destruction only covers 5 mbpd. The loss is ~12 mbpd, so 7 mbpd remain. That's mostly covered by reserve drawdowns by countries such as the US and Japan, which won't last forever.
>>62339440At current drawdown rates, US crude oil stockpiles will last 50 weeks
>>62340302If this chart is correct, then, at current drawdown rates, Japan's crude oil stockpiles will last about 40 weeks
>>62340308
>>62339314It's a US company headquartered in New York state
>>62339016higher interest rates => downward pressure on crypto in general
>>62337085Hes a shill hired by the ccp.Tianenmen square, uygher genocide
>>62340346Yep, there's no other reason for anyone on /biz/ to discuss oil prices
>>62340346tiananmen square was based and a wish we ran over liberals the same way, and i wish we put muzzies into auschwitz just like the uyghurs, bless the ccp
>>62337006I likes how china does nothing and wins, while americans eat high inflation, and their ZOGbots die by the hundreds in "accidents" while billion dollar military installations and equipment gets bombarded to pieces in the middle east.
>>62340285That still has a huge effect and if you believe they let you in on every development as they’re happening then you’re the idiotThis tech exists in many places all over the worldCopenhagen atomics is already building these dummy
>>62337159Ameribros, our response?
>>62342492I think you greatly underestimate the amount of development and debugging needed before large scale commercial deployment can begin. No one wants to build a large number of reactors only to then find out there is an unanticipated corrosion issue that will reduce the reactors' lifespan to a fraction of what was originally planned, as happened to the MSRE. Test reactors need to be run until they are sure that all technical issues are solved, and that the reactor can live to the end of its design life without requiring major expensive overhaul.
>>62342597Yes but the other anons are right.The price of gas isn’t just based on demand it’s largely based on speculation as oil is a highly traded commodity.That speculation is affected by the news of developments. You don’t need demand to move if the speculators lose or gain confidence OP is pretty dumb for not accounting or even mentioning these factors but it shows how myopic their view is and how brainwashed the jews have people like him that they don’t even consider all the biggest factors to price
>>62342508Good. I’m not dying for israelCongrats China. You deserved it more than us
>>62342597>This means that for every single physical barrel of oil that enters a refinery to be turned into gasoline or diesel, roughly 25 to 30 barrels are bought and sold financially by commodity traders
>>62343070>>62343115this should be talked about more not just so people like op realize there’s many more dynamics than they measure effecting price but also because commodity traders are responsible for most of the price increases we face on goods(inflation being another major factor)
