- cross-posted to:
- globalnews@lemmy.zip
- cross-posted to:
- globalnews@lemmy.zip
The crude stockpiles held by the country’s state-owned energy companies remain nearly full. Beijing appears not to have tapped its vast strategic reserves, and storage tanks at Chinese refineries are brimming with petrol, diesel and other refined products.
China was able to reduce imports so sharply in part because it had been buying more oil than it needed before the war. For years, it accumulated inventories whenever prices were low as part of a broader push to strengthen national self-reliance and improve its ability to withstand supply disruptions.
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This is what happens when you have one side that sits back and plays some machiavellian chess, and another side that shits on a checker board and makes everyone roll around in it.
China is far from an honest actor, so don’t think I’m saying this as a compliment. But China knows when to shut up, sit back, and let the other guy fuck themselves over.
“Never interfere with the enemy when he is in the process of destroying himself.”
The article is contradicting itself. It is saying they are not tapping their reserves, because they bought excess before the war to accumulate inventories. Are they using their inventories or not? You can probably just sum up the whole article by saying they stored a lot of oil before the war (but are obviously using it if they are not relying on imports)
This feels a bit like marketing, trying to get investors to park their money in a more secure China. Probably not 100% a lie, but a bit. How big can those storage tanks be?
Last I remember reading China had reserves for 220+ days of usage.
The US has been selling its reserves for a profit. Big brain move.
- Bomb Iran
- Jack up oil prices
- Sell all of strategic oil reserves
- Profit
- ???
- Oil Shortage
Cheap gas was the minimum thing I wanted…
Meanwhile, New Zealand has less than a month’s worth of diesel in the country, sometimes as little as fourteen days.
