Why is Biden selling American crude oil to the Chinese?

[Flash]

Why is it that Biden is depleting the Strategic Petroleum Reserves and filling up Chinese tankers with American oil?

Could it be that he is in bed with the Chinese?


China Sends Supertankers To US Gulf On Crude Oil Buying Spree
One of the most important bull thesis for crude in 2023 is that China, having permanently shelved its zero Covid policies, will unleash a global buying spree as the Chinese economy sharply roars back to life.

On Tuesday, we got another indication of precisely that: Unipec, the largest oil trader in China and the trading unit of state-held refiner Sinopec, and PetroChina, the largest oil and gas producer and distributor in China, have both hired ten supertankers in March to haul US crude back to Asia, according to Bloomberg, citing people with direct knowledge of the matter.

Each vessel can transport a whopping 20 million barrels of crude. The people said that the loading of the tankers is expected to occur across US Gulf Coast terminals.

China Sends Supertankers To US Gulf On Crude Oil Buying Spree | ZeroHedge

 

[Catsnmeters]

Why is it that Biden is depleting the Strategic Petroleum Reserves and filling up Chinese tankers with American oil?

Could it be that he is in bed with the Chinese?


China Sends Supertankers To US Gulf On Crude Oil Buying Spree
One of the most important bull thesis for crude in 2023 is that China, having permanently shelved its zero Covid policies, will unleash a global buying spree as the Chinese economy sharply roars back to life.

On Tuesday, we got another indication of precisely that: Unipec, the largest oil trader in China and the trading unit of state-held refiner Sinopec, and PetroChina, the largest oil and gas producer and distributor in China, have both hired ten supertankers in March to haul US crude back to Asia, according to Bloomberg, citing people with direct knowledge of the matter.

Each vessel can transport a whopping 20 million barrels of crude. The people said that the loading of the tankers is expected to occur across US Gulf Coast terminals.

China Sends Supertankers To US Gulf On Crude Oil Buying Spree | ZeroHedge

The law.

 

[jwoodie]

Maybe to diminish Russian exports?

 

[BlindBoo]

U.S. Exports to China of Crude Oil (Thousand Barrels per Day)

We are the world's leading energy producer. Our industry exports several million barrels' of crude oil every day. The government doesn't sell oil to China either.

Crude Oil Exports by Destination

 

[Flash]

Maybe to diminish Russian exports?

More likely to further deplete the SPR so that would make the cost of fossil fuels higher to kiss the cost of the Environmental Wackos. After all we have it on record where Potatohead is telling his Environmental Wacko buddies he is going to stop the use of fossil fuels.

He is doing exactly what he he promised he would do; fuck Americans.

 

[TroglocratsRdumb]

Biden wants China's military to have plenty of fuel when they invade Taiwan.

 

[Independentthinker]

Why is it that Biden is depleting the Strategic Petroleum Reserves and filling up Chinese tankers with American oil?

Could it be that he is in bed with the Chinese?


China Sends Supertankers To US Gulf On Crude Oil Buying Spree
One of the most important bull thesis for crude in 2023 is that China, having permanently shelved its zero Covid policies, will unleash a global buying spree as the Chinese economy sharply roars back to life.

On Tuesday, we got another indication of precisely that: Unipec, the largest oil trader in China and the trading unit of state-held refiner Sinopec, and PetroChina, the largest oil and gas producer and distributor in China, have both hired ten supertankers in March to haul US crude back to Asia, according to Bloomberg, citing people with direct knowledge of the matter.

Each vessel can transport a whopping 20 million barrels of crude. The people said that the loading of the tankers is expected to occur across US Gulf Coast terminals.

China Sends Supertankers To US Gulf On Crude Oil Buying Spree | ZeroHedge

I also saw this the other day. I don't know the nuts and bolts of it all but I kind of wondered why we were paying money to shut down old oil wells in the US instead of trying to pump them again.

Biden infrastructure plan would spend $16 billion to clean up old mines, oil wells

President Joe Biden’s plan to transform America’s infrastructure includes $16 billion to plug old oil and gas wells and clean up abandoned mines.

www.pbs.org

 

[LordBrownTrout]

I also saw this the other day. I don't know the nuts and bolts of it all but I kind of wondered why we were paying money to shut down old oil wells in the US instead of trying to pump them again.

Biden infrastructure plan would spend $16 billion to clean up old mines, oil wells

President Joe Biden’s plan to transform America’s infrastructure includes $16 billion to plug old oil and gas wells and clean up abandoned mines.

www.pbs.org

Some of them can be re-worked but there's a lot of liability if a small operator has to shut the well in.

 

[BlindBoo]

I also saw this the other day. I don't know the nuts and bolts of it all but I kind of wondered why we were paying money to shut down old oil wells in the US instead of trying to pump them again.

Biden infrastructure plan would spend $16 billion to clean up old mines, oil wells

President Joe Biden’s plan to transform America’s infrastructure includes $16 billion to plug old oil and gas wells and clean up abandoned mines.

www.pbs.org

The government isn't in business to pump oil. But they are responsible for cleaning up irresponsible businesses messes

"Hundreds of thousands of “orphaned” oil and gas wells and abandoned coal and hardrock mines pose serious safety hazards, while causing ongoing environmental damage.

Many of the old wells and mines are located in rural communities that have been hard-hit by the pandemic. Biden’s plan would not only create jobs, but help reduce methane and brine leaks that pollute the air and groundwater."

"Democrats have called for stronger bonding requirements for oil and gas companies that drill on public lands, as well as changes to bankruptcy law that make it harder for companies to evade responsibility for cleaning up old sites."

What have Republicans done, other than to oppose these measures on ideological grounds?

 

[Independentthinker]

The government isn't in business to pump oil. But they are responsible for cleaning up irresponsible businesses messes

"Hundreds of thousands of “orphaned” oil and gas wells and abandoned coal and hardrock mines pose serious safety hazards, while causing ongoing environmental damage.

Many of the old wells and mines are located in rural communities that have been hard-hit by the pandemic. Biden’s plan would not only create jobs, but help reduce methane and brine leaks that pollute the air and groundwater."

"Democrats have called for stronger bonding requirements for oil and gas companies that drill on public lands, as well as changes to bankruptcy law that make it harder for companies to evade responsibility for cleaning up old sites."

What have Republicans done, other than to oppose these measures on ideological grounds?

Instead of the government paying money to clean up these messes, why don't they use the money to re-open these wells and mines so that we can be energy independent? They can work with the corporations financially to get them open again instead of spending money to plug them up. Either way the government is spending money. Why not spend the money to make us more energy independent and decrease energy costs to consumers?

 

[BlindBoo]

Instead of the government paying money to clean up these messes, why don't they use the money to re-open these wells and mines so that we can be energy independent?

First, we are energy independent.

U.S. Imports & Exports

I can't speak to the mines, but the wells, well the government is not in the oil business. If those wells were profitable then they probably would not have been abandoned.

 

[Flash]

I also saw this the other day. I don't know the nuts and bolts of it all but I kind of wondered why we were paying money to shut down old oil wells in the US instead of trying to pump them again.

Biden infrastructure plan would spend $16 billion to clean up old mines, oil wells

President Joe Biden’s plan to transform America’s infrastructure includes $16 billion to plug old oil and gas wells and clean up abandoned mines.

www.pbs.org

To understand Potatohead doing things like this you just have to remember his promise to his Environmental Wacko buddies to stop all fossil fuel production in the US. Just one more step in America's coffin.

There is quite a good record of being able to get more oil out of previously depleted oil wells and Potatohead wanted to prevent that in the future. Very dumbass thing to do.

 

[BlindBoo]

To understand Potatohead doing things like this you just have to remember his promise to his Environmental Wacko buddies to stop all fossil fuel production in the US. Just one more step in America's coffin.

There is quite a good record of being able to get more oil out of previously depleted oil wells and Potatohead wanted to prevent that in the future. Very dumbass thing to do.

These aren't depleted wells, these are abandoned wells.

 

[Flash]

These aren't depleted wells, these are abandoned wells.

Stop being an idiot shithead . They were "abondoned" because the price of oil was low (like when Trump was President) and it was uneconomical to recover the remainder.

I swear you Moon Bats are the dumbest mutherfuckers on the face of the earth.

 

[g5000]

Why is it that Biden is depleting the Strategic Petroleum Reserves and filling up Chinese tankers with American oil?

Could it be that he is in bed with the Chinese?


China Sends Supertankers To US Gulf On Crude Oil Buying Spree
One of the most important bull thesis for crude in 2023 is that China, having permanently shelved its zero Covid policies, will unleash a global buying spree as the Chinese economy sharply roars back to life.

On Tuesday, we got another indication of precisely that: Unipec, the largest oil trader in China and the trading unit of state-held refiner Sinopec, and PetroChina, the largest oil and gas producer and distributor in China, have both hired ten supertankers in March to haul US crude back to Asia, according to Bloomberg, citing people with direct knowledge of the matter.

Each vessel can transport a whopping 20 million barrels of crude. The people said that the loading of the tankers is expected to occur across US Gulf Coast terminals.

China Sends Supertankers To US Gulf On Crude Oil Buying Spree | ZeroHedge

The SPR has been being refilled since December. At a lower cost than we sold the oil for. Profits!

We have been energy independent for a while now. Which means we are a net exporter.

All caught up now?

 

[BlindBoo]

Stop being an idiot shithead . They were "abondoned" because the price of oil was low (like when Trump was President) and it was uneconomical to recover the remainder.

I swear you Moon Bats are the dumbest mutherfuckers on the face of the earth.

So you think the problems of abandoned wells is a recent thing and not something that has plagued the industry for decades? From Indy's link "Some former drilling or mining sites have sat unattended for decades."

Compared to you, moonbats are fucking brilliant, Zippy!

 

[Flash]

So you think the problems of abandoned wells is a recent thing and not something that has plagued the industry for decades? From Indy's link "Some former drilling or mining sites have sat unattended for decades."

Compared to you, moonbats are fucking brilliant, Zippy!

Let me tell you what I know, you dumbass Moon Bat.

The US was energy independent when Trump was President.

Then that piece of Chinese owned shit Potatohead stole the 2020 election and he had promised the Environmental Wacko lobby that he would shut down fossil fuel production in the US and he done everything possible to accomplish that promise. Including draining the SPR and giving his Chinese buddies our oil when the price is well over $4 a gallon at the pump. Including making sure that existing wells could not be recovered in the future. Despicable, isn't it?

You Moon Bats that voted for that peice of shit and then gloated when he stole the election are absolute morons. Shame on you assholes!

 

[Lord Long Rod]

Because he is dumb and his handlers are anti-American neo-Marxist revolutionaries.

 

[g5000]

The US was energy independent when Trump was President.

And it still is. We are a net exporter.

You really need to catch up.

 

[g5000]

U.S. Energy Independence Has Grown​

Using the definition of exports minus imports, 2021 was our highest level of energy independence in history.​

What a shame not one Trumptard blasted this news. What a shame not one Trumptard has been informed of this by their MAGA propagandists.