Oil Crisis Just Got Real: Sinopec (Read China) Cuts Off Oil Exports

Apologies if someone already posted, I didn't see it on the New Topics firehose and search option doesn't work on this computer.

Zero Hedge has an article here out this morning about China cutting their oil exports for some time.

I know Saudi arabia is the biggest oil exporter, but does anyone have any insight into how much this will affect oil prices globally, and likely US impact for those of us here at home?

As if a dollar in freefall was not enough, surging oil is about to hit the turbo boost, decimating what is left of the US (and global) consumer. Xinhua, via Energy Daily, brings this stunner: " 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 but it reported that the firm had said it also would take steps to step up output "to maintain domestic market supplies of refined oil products". Oh but don't worry, those good Saudi folks are seeing a massive drop in demand... for their Kool aid perhaps. "Sinopec would ensure supplies met the "basic needs" of the southern Chinese special regions of Hong Kong and Macao, but they also should expect an unspecified drop in supply, Xinhua quoted an unnamed company official as saying." Now... does anyone remember the 1970s?

Things are already spotty enough, and so far I've seen enough good articles to trust the guys at Zero Hedge, so this concerns me a bit:

Translation: # just got real, and is about to manifest itself in limit ups in both regular, and black gold.

Anyone got any good perspective on this?

Hmm, not sure but I was always under the assumption that China was the either #1 or #2 in world's biggest oil importer, at least the light crude needed to refine into gasoline.

I wasn't aware they were actually a player in the export market at all?

reply to post by gncnew


I hadn't heard much about their exports either. Looking through the comments on the site itself, that seems to be the general theme as well so this might not actually do much to the global oil market to affect us.

Some are bouncing around the idea that this could have political implications, though, like a possible preparation for war - God forbid. With all our debt they hold and the financial lunacy we've been practicing recently along with us being right at debt ceiling and a possible default...that bit makes me more nervous than any involved oil pricing effects, honestly.

Hopefully this is just run of the mill with no impact outside the local China market.

haven't heard about their exports? i figure if their drilling for it, they might sell it too www.abovetopsecret.com...

china for the past decade has been buying up resources like crazy around the world. and drilling off our coast.

if we are to avoid any calamity right now, we need to drill our own, and make deals with allied countries.
only way to do it since there really is no other viable, mass produced, cheap fuel yet.

With this escalation in Libya, the oil light was one of the first to come on. China and Russia lost there cut in Iraq and are not happy with things going the same way in Libya. Libya ain't about Gaddafi the way the media puts it, with all the civil unrest in the region the Eastern and Western blocks are manning the lines ready to take ground on any power vacuums that eventuate. Africa has been an international boxing ring for some time.

I was interesting for them to mention Japan as well. Is this because a few nuclear plants are off line or is there more to this HAARP story?

Don't blame China at all - they are closing their borders for the TOTAL CHAOS that is coming in the upcoming months.....it is what we should be doing.

I expect oil is be shoot through the roof soon - 5 dollar gas...lol

Try 6-8.

sounds like they might revalue the rem too
look out USD
( they have NOT forgotten the BOXER rebellion )

Originally posted by Danbones
....BOXER rebellion....[

umm, opium wars, like the one in Afghanistan now... only difference being the consumer countries - makes it clear who's the target, doesn't it?

The oil industry and DoE wants us all to be distracted by the supply and demand of fossil fuels, when in reality they know full well that other existing technologies could forever eliminate our dependence on oil in less than a year. I am talking about a safe nuclear battery used today in long range torpedoes and satellites known as the Thorium plasma battery. The true genuine "energy crisis" is our government's criminal technology suppression.

I am convince the most cost efficient, green, and useful new alternative energy source is Thorium plasma batteries - if we can get them out of the selfish hands of our military. These batteries operate 5-10 years without single recharge, zero emissions, and can be regulated for any ac/dc voltage output with less than a .002% fluctuation in current. fairy tale? No - reality. See this link and search Zimbio for more details as well.

open.salon.com...

This disruptive new technology poses a direct threat to big oil and government fuel tax revenues. Just like the magnatron magnetic motor that was invented and successfully demonstrated to Greyhound Bus Lines by Howard Rory Johnson in the late 70s, Thorium Plasma Battery technology is being censored from the public, under the ruse of "military priority" and "national security needs". In reality, these batteries can power anything from a cell phone, to laptop, to electric scooter, cars, trucks, and even an entire home or hospital. Dozens of people witnessed the battery in operation at demonstrations - before it was swiped by the Pentagon which also sealed the patent files. Imagine driving your car for 5 years without buying another gallon of gas or recharging the battery. For the corporate elite, it simply is not profitable for them to let us enjoy such technology that put an end to their gravy train ride. BTW... these plasma batteries would eliminate every coal plant within 2 years, and cut global warming by 50% within a decade.

Technology suppression is very real in our world and the profiteering of a few hundred elite keeps us all artificially addicted to oil. Our beloved government is the pusher for the biggest drug dealer of all - big oil.

reply to post by AnotherEnergyVictim


The reason thorium, or any other abundant and efficient energy solution isn't implemented is very easy to understand.

It's that this would give the people the opportunity to rise up Against their governments.

What if an intelligent psycho got ahold of this tech? Goodbye civilization!!

It's not that difficult to understand, really.

Im so tired, of this, yes we will run out, just not in my lifetime so without kids....I dont care

Originally posted by Danbones
sounds like they might revalue the rem too
look out USD
( they have NOT forgotten the BOXER rebellion )

edit on 21-4-2011 by Danbones because: (no reason given)

If it wasn't for US involvement in the Boxer rebellion China wouldn't exist as a nation. It would of been carved up by the powers of Europe like Africa. That was the reason why America joined that "police action", to protect Chinese territorial sovereignty. Heck after the "police action", China was made to pay or "reimburse" the participants. The nations of Europe greedily put their bounty to use to expand their empires.

America? We merely applied our share to the actual cost of shipping troops/Veteran pension type stuff and refunded the remainder(which was very large). China in turn used the excess money to send a good number of it's Citizens to American Universities.

If anything America should be deep-sixing the EU and strive to build closer ties with Russia and China. Nations that have historically been either our friend or ally. We have never went to direct war with them(while on the other hand we fought against the UK, France, Spain, Italy, Germany and Austria at one time or another) and friendship with Russia and China would be more advantageous.