China imports almost all of its critical supplies (energy, food etc). You can't build an oil pipeline in five minutes and tankers have to go through several massive chokepoints.there are still a few 'Russia-friendly ' stans up there , and i reckon China can cut a deal with Afghanistan as well , add in under-explored Mongolia as 'future producers ' , and the Chinese stockpiles ( they reputedly have ) and i reckon they can just about do it especially if the West applies sanctions on Chinese exports ( would the West do that again ?? )
also China learned a trick or two on recycling
it won't 'a time of abundance ' but they only have to out-last the West and get a clear path to partnering half of Africa
currently i would rather be playing China than the EU in the new world monopoly game
since China is already building a railway to ( Western ) Russia ( originally it was meant to go to Europe as well ) you can bet there is at least one pipeline going from Siberia to China in progress , i believe a pipeline to India is also in the planning stage ( or more progressed )China imports almost all of its critical supplies (energy, food etc). You can't build an oil pipeline in five minutes and tankers have to go through several massive chokepoints.
China's oil supply could be cut off to the point of crippling it within a few hours.
According to Financial Tiimes via ZerohedgeChina imports almost all of its critical supplies (energy, food etc). You can't build an oil pipeline in five minutes and tankers have to go through several massive chokepoints.
China's oil supply could be cut off to the point of crippling it within a few hours.
So I wonder if the US will try to embargo Russian Tankers from travelling the high seas.In an effort to dull the effect of international restrictions on its oil sales, Russia has discretely assembled a "shadow fleet" of more than 100 tankers, according to shipping brokers and industry analysts who spoke to the Financial Times.
The largely anonymous tanker purchases can be tracked by the big increase in unnamed or new buyers appearing in registries. The vessels are generally 12-15 years old and would be expected to be scrapped in the next few years, said Anoop Singh, head of tanker research at Braemar. -- Financial Times
“We’ve seen quite a number of sales to unnamed buyers in recent months, and a few weeks after the sale many of these tankers pop up in Russia to take their first load of crude,” Craig Kennedy at Harvard's Davis Center for Russian and Eurasian Studies told the Times.
With its growing fleet of aging, bargain-bin tankers, Russia is looking to bolster its exports to China, India, Turkey and other countries that have greatly boosted their purchases of Russian oil as other countries reduce them.
According to Braemar's analysis, Russian operators appear to have acquired:
Russia's tanker-buying spree probably isn't over. “Russia needs more than 240 tankers to keep its current exports flowing,” Rystad analyst Viktor Kurilov told the Times.
- 29 very large crude carriers (VLCCs), which can haul more than 2 million barrels apiece
- 31 Suezmax-sized tankers, which carry about 1 million barrels
- 49 Aframax tankers, with 700,000-barrel capacities
Doesn't have to be the yanks:According to Financial Tiimes via Zerohedge
So I wonder if the US will try to embargo Russian Tankers from travelling the high seas.
Would not put it past the US hawks .
Mick
Russia also has this little port called Vladivostok , AND has been recently testing out the 'Arctic route ' for freight ( probably won't be useful all-year round , but even 6 months would be useful , they might have to build in 'icebreaker capability ' but Russian builds crude and robust , habitually, it shouldn't be a biggie in new vesselsDoesn't have to be the yanks:
View attachment 150081
There's only three places oil can flow through/past indonesia and each of them is all of about 2km wide at the depth necessary for a big tanker to sail through. Indonesia could block them, so could korea, so could japan, so could india.
China is totally dependent on these three narrow straits and so, in fact, is most of asia. The only alternative is stuff coming by train from russia etc (not even close to what they need) or across the pacific from america (not really interested in relying on the yanks are they?).
A big, and I mean BIG oil pipeline from russia is the only way they could even think about energy security and they don't have and cannot build one of those in under a multi-year timeline.
Let's also not forget that russian oil, if moving by sea, has to be loaded in the black sea, make its way past turkey (another big choke point) and then through the suez canal (another big choke point).
but they have plenty of resources available now , assuming they have abandoned Europe ( with a few exceptions ) as reliable customersSure but how long do you think a pipeline takes to build? Not five minutes that's what.
And that's before we even start on the supply side problems from russia.
Or flog at the open just like any other day it's mental premarketOil down at the moment. Might just have to sit on hands and wait out volatility?
Not many countries will have had four quarters of growth over the past two years, so we are doing all right.Australia's economic growth has come in slightly below expectations, with GDP growing by 0.6 per cent in the September quarter and 5.9 per cent through the year.
The result was Australia's fourth consecutive quarter of economic growth following a contraction during the COVID-19 Delta wave lockdowns last year, but growth decelerated from 0.9 per cent the quarter before.
Economists were also generally expecting a slightly stronger reading of 0.7 per cent.
Consumers are are still out there driving things along.Consumer spending was a key driver of the economic growth, as life returned to more normal patterns after two years of significant pandemic disruption.
One wonders how much of the increases in household spending, as well as the 13.9 percent rise in Transport services are due to inflatoion rather than a real increase in spending.Household spending rose 1.1 per cent for the quarter, contributing 0.6 percentage points to GDP, according to the Australian Bureau of Statistics (ABS).
The national accounts data showed growth was driven by a 5.5 per cent jump in spending at hotels, cafes and restaurants, a 13.9 per cent rise for transport services and a 10.1 per cent increase in the purchase of vehicles.
Noticed a big drop in the price of unleaded, $1.70, at the couple of servos we have but the more important diesel for us is still at over $2 a litreOil down at the moment. Might just have to sit on hands and wait out volatility?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?