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 News As History - December 1, 2008

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Subject: A Police State Triumph
SYSOP    9/2/2008 5:30:57 AM
 
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Julius II       9/2/2008 12:45:54 PM
7.4 million barrels a day is a rather high estimate.  The CIA estimates it at 6.9 million barrels per day (2007).  Further world oil consumption is around 79 million barrels per day (https://www.cia.gov/library/publications/the-world-factbook/geos/xx.html).  China also is reported to have temporarily switched a number of its Peking area power plants to oil and will return to coal now that the Olympics are over.  All this is speculation because China does not publish true numbers about production or consumption.  

The International Energy Agency, the propoganda organization of the Organisation for Economic Co-operation and Development (OECD), has been putting out that India and China demand has been driving the price rise as opposed to OPEC production cuts limiting supply and speculators driving up the price. OFCD represents the bureaucracies of most of the Western oil consuming governments and is promoting reducing consumption.
 
If the price rise were driven by supply and demand, why is it dropping so fast now?
 
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Tankster    Daily oil use   9/2/2008 5:46:20 PM
Is 84 MILLION barrels (42 gallons each), not BILLION
 
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FlyingDutchman       9/3/2008 11:23:39 AM
The part of september 2nd isn't really logical IMHO:
"Chinese banks have thus become the favorite of international terrorist organizations, at least those that do not operate in China, or are hostile to China.
China is pressuring Pakistan to crack down on Islamic radicals. Not because China is particularly down on Islamic radicals, but because two more Chinese workers (engineers) have been kidnapped in Pakistan. "
 
Wouldn't international terrorist organizations often be Islamic radicals?
 
That either means the Chinese banks aren't under government control (would be strange to believe) or the article is wrong.
 
 
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FlyingDutchman       9/3/2008 11:23:45 AM
The part of september 2nd isn't really logical IMHO:
"Chinese banks have thus become the favorite of international terrorist organizations, at least those that do not operate in China, or are hostile to China.
China is pressuring Pakistan to crack down on Islamic radicals. Not because China is particularly down on Islamic radicals, but because two more Chinese workers (engineers) have been kidnapped in Pakistan. "
 
Wouldn't international terrorist organizations often be Islamic radicals?
 
That either means the Chinese banks aren't under government control (would be strange to believe) or the article is wrong.
 
 
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supred       9/3/2008 9:56:23 PM
Chinese oil consumption (most of it imported) continues to rise, to 7.4 million barrels a day (global demand is over 80 million barrels a day, the U.S. accounts for a quarter of that). The government controls fuel prices, and raised them over the Summer. This did not reduce demand as much as expected. Oil use has largely kept pace with annual increases in economic activity (10 percent a year for nearly two decades), and that has been a major factor in the world price of oil more than tripling in the last decade. 

So, although Chinese oil consumption is about one of third of that as US, still they are responsible for the tripling of the oil price? Doesn't seem logical!! Maybe the depreciation of dollar has more to do with the increase of oil price. 
 
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Nanheyangrouchuan       9/4/2008 10:42:44 PM
The Bank of China is being sued in LA for acting as a conduit for terrorism funds.  China must be crushed.
 
"http://www.google.com/search?hl=en&q=bank+of+China+lawsuit&btnG=Google+Search&aq=f&oq="

 
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