Water Cooler

just confused?

63.16.15.204

In Reply to: RE: Contrarian Economist or just confused? posted by Postal Grunt on May 02, 2008 at 10:28:47

Will someone, anyone, please show me why they think oil is in short supply? I'm interested in numbers not speculation, BTW.

I see absolutely no shortage evident and China is not a factor as most of their oil comes from Africa and Iran, two regions which have not been supplying the US. They've developed (China, that is) quite a few refineries and well stations and are building major pipelines for their use. Don't forget that China also has access to oil wells in the Vietnam area and in South China also.

US companies are using China as a scapegoat for rising oil prices, as with the rise in prices for every metal and commodity imaginable, from steel to corn. IMHO that is simply a ruse to avoid public exposure to their avarice.

Stu

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