01-26-2016, 07:40 AM
Hmm, I'm just hoping that Canada won't ever be in bed with China... so many other countries Canada could export oil to, like India, Japan, etc. If Canada does sell to China, there better be a wise strategy behind all this. More counties competing against each other with their exports = lower prices, but oil consumption will continue to skyrocket in China and India, so prices will still go up somewhat regardless of Russia's exports. Then Canada can play real tough while threatening to cut China off at any time - and use it to their advantage. The US will be working real hard at making sure China doesn't get too powerful. Cheap oil = cheap production of plastics in China, then China gets used to it and feels more powerful and greedy until India eventually becomes the new China.
Russia was hoping to entrap China with the oil pipelines and all (having become the #1 supplier earlier in 2015), but now Russia is taking a serious beating... Is the US really trying to make Russia collapse all over again??
The prices are nuts, especially with Iran about to go back online with the exports again, causing yet another stir! Things are crazy now!!
http://www.cnbc.com/2016/01/25/why-iran-...arket.html
Yet, despite this, food prices are considerably rising right now at grocery stores and in restaurants!!! What gives?!?? I thought food prices were very closely correlated with oil prices (with tractors and shipping and all)?
Oil price is the lowest in 13 years - have a look at this interactive chart (uncheck the "log scale" box for a linear scale):
http://www.macrotrends.net/1369/crude-oi...tory-chart
I loved the 90's with such low oil prices. Hopefully that era is back here to stay!
Quote:The report states that Russia's exports to China were down 20% compared to last year, while China only invested under $1.6 billion into Russia in 2014, when Russia invested a whopping $151.5 billion during the same year into the Chinese economy.http://www.dnaindia.com/money/report-is-...ls-2125053
Quote:Saudi Arabia sold 3.99 million metric tons to China during October, according to data from China’s General Administration of Customs. Angola sold 3.64 million tons to China, while Russia was third, selling 3.41 million tons during the month.
(http://www.ibtimes.com/oil-prices-2015-s...ce-2196043)
Russia was hoping to entrap China with the oil pipelines and all (having become the #1 supplier earlier in 2015), but now Russia is taking a serious beating... Is the US really trying to make Russia collapse all over again??
The prices are nuts, especially with Iran about to go back online with the exports again, causing yet another stir! Things are crazy now!!
http://www.cnbc.com/2016/01/25/why-iran-...arket.html
Yet, despite this, food prices are considerably rising right now at grocery stores and in restaurants!!! What gives?!?? I thought food prices were very closely correlated with oil prices (with tractors and shipping and all)?
Oil price is the lowest in 13 years - have a look at this interactive chart (uncheck the "log scale" box for a linear scale):
http://www.macrotrends.net/1369/crude-oi...tory-chart
I loved the 90's with such low oil prices. Hopefully that era is back here to stay!