How China Saved the Global Oil Market

Discussion (5 Comments)Read Original on HackerNews

sciencesama•about 1 hour ago

But what does it get in return for that!!??

litbear2022•43 minutes ago

Freedom. We cherish freedom, and we attain it through technological progress and self-restraint—unlike certain nations that rely on plunder.

mahirsaid•about 2 hours ago

The fact they have the power to do this says more. The sheer size of power and control that China has is to be respected and treated as such " a global superpower" that can provider greater safety control to normalized global economies. What's profound is their use of power and leverage, the decisions made are carefully articulated and meaningful.

verdverm•about 2 hours ago

I heard it described as an inversion of the OPEC cartel. China can now influence prices as much as they can/could, up to a point. They prepared in Feb by buying 200M barrels, as if they had uncannily high confidence Trump was going to start a war with Iran.

toomuchtodo•about 2 hours ago

China can now directly control the rate at which the world electrifies transportation and transitions to clean energy, through controlling the price of oil, which is a direct input into how rapidly countries importing clean tech from China do so. Want to stoke exports? Increase oil imports until the target crude oil price been reached. Slow them? Reduce oil imports to relax global oil prices, reducing demand for clean tech. Like a central bank using short term interest rates to govern economic run rate.

https://ember-energy.org/data/china-cleantech-exports-data-e...

How China Saved the Global Oil Market

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Discussion (5 Comments)Read Original on HackerNews