GasBuddy News Article

votes

China's sites for commercial oil storage

Reuters -- BEIJING, Feb 9 (Reuters) - China National Petroleum Corp will start building a 6.2 million-barrel crude-oil tank farm next month in the northern port of Tianjin, which it aims to complete by end of this year, state media said.

Read the Full Article

Submitted Feb 09, 2010 By: Mudsprings

Back To News

Category: Daily News Article Discussions > Topics	Add to favorite topics Post New Topic

Author	Topic: China's sites for commercial oil storage	Post a Reply Back to Topics

REPLIES (newest first)

First Prev

Last

netman044 Champion Author Texas Posts:3,844 Points:646,060 Joined:Sep 2005	Message Posted: Feb 9, 2010 7:44:43 AM Ignore netman044 Report Abuse Large reserves cushion drops in production and high prices. They also make a country less vulnerable to price jacking by the producers. China wants to control it's on destiny. If they aren't selling to us they could care less.
9C1 Champion Author Chicago Posts:17,700 Points:3,280,645 Joined:Jul 2001	Message Posted: Feb 9, 2010 7:44:28 AM Ignore 9C1 Report Abuse We are getting our ass kicked, and we don't have the will to do anything about it.
bumpygas Champion Author Nebraska Posts:3,525 Points:962,425 Joined:Oct 2007	Message Posted: Feb 9, 2010 7:43:24 AM Ignore bumpygas Report Abuse To bad the government won't allow the news media to release what's really happening in China. Kind of reflects Obama's socialism.
dhawk24 Champion Author Maine Posts:3,073 Points:675,605 Joined:Jul 2008	Message Posted: Feb 9, 2010 7:41:29 AM Ignore dhawk24 Report Abuse This should be something we are doing...
TerryLee Champion Author Ohio Posts:11,397 Points:2,145,915 Joined:Mar 2004	Message Posted: Feb 9, 2010 7:41:19 AM Ignore TerryLee Report Abuse It's about time that Pres. Obama starts drilling in the U.S.
Masercal Champion Author Michigan Posts:3,610 Points:780,740 Joined:Oct 2007	Message Posted: Feb 9, 2010 7:39:12 AM Ignore Masercal Report Abuse China is poised to take control of the oil market if they buy up and store as much oil as possible. Continue to conserve and make the move to renewable and alternative energy. It's time to tak eback our energy independence and security.
Texrider49 All-Star Author New Haven Posts:648 Points:215,520 Joined:Dec 2007	Message Posted: Feb 9, 2010 7:38:39 AM Ignore Texrider49 Report Abuse If China can store more oil in their reserve eventually they will not need to import oil as much and can force the price of oil down the more oil in reserve in reserve the longer we can hold out for the price to go down.
nerde Champion Author Florida Posts:1,357 Points:366,725 Joined:Jul 2009	Message Posted: Feb 9, 2010 7:37:06 AM Ignore nerde Report Abuse Then we can buy our oil from them too.
RockCity Champion Author Denver Posts:2,717 Points:484,845 Joined:Mar 2009	Message Posted: Feb 9, 2010 7:36:21 AM Ignore RockCity Report Abuse >China will be the number 1 economy very soon,Thank you Obama. I agree, let's all take time to thank somebody for making it easy for companies to send jobs overseas. Hip, hip, hooray for off shore tax shelters. If we continue to allow big business to run the country, we will really be in trouble. <--more
TheSnowstorm Champion Author Montreal Posts:4,463 Points:1,005,630 Joined:June 2005	Message Posted: Feb 9, 2010 7:36:04 AM Ignore TheSnowstorm Report Abuse China wants crude and they are building facilities to store it, once they get it.
no_monkey2002 Champion Author Tallahassee Posts:3,793 Points:1,125,140 Joined:Mar 2006	Message Posted: Feb 9, 2010 7:35:33 AM Ignore no_monkey2002 Report Abuse Sounds good for china,,,OBAMA when will the new lite begin in the president??? the change we are still waiting of the change to the better no more of this worst you can do we have seen enough of the bad
Rick01 Champion Author Utah Posts:4,041 Points:1,414,840 Joined:Sep 2005	Message Posted: Feb 9, 2010 7:35:25 AM Ignore Rick01 Report Abuse Now they will be able to buy up and store more and have better control over prices.
granma3xnow Champion Author Indiana Posts:1,998 Points:410,675 Joined:Dec 2008	Message Posted: Feb 9, 2010 7:33:48 AM Ignore granma3xnow Report Abuse Is China building the storage tanks to take on the earths oil? Will we be buying our oil from China next? Conserve, conserve!!
Spetsnaz Champion Author Dayton Posts:1,515 Points:537,315 Joined:May 2006	Message Posted: Feb 9, 2010 7:30:44 AM Ignore Spetsnaz Report Abuse If it is on their land, over in China, what do I care?
MertieMan Champion Author Lexington Posts:9,842 Points:1,921,235 Joined:May 2005	Message Posted: Feb 9, 2010 7:29:21 AM Ignore MertieMan Report Abuse I just can't imagine that I could have lived one more day without knowing this valuable information.
Zuman Champion Author New York Posts:1,514 Points:966,015 Joined:May 2005	Message Posted: Feb 9, 2010 7:24:54 AM Ignore Zuman Report Abuse This is for china . Will it help us ????
QueenMother Champion Author New Hampshire Posts:2,751 Points:1,225,200 Joined:May 2006	Message Posted: Feb 9, 2010 7:22:30 AM Ignore QueenMother Report Abuse Will this affect the oil prices?
Hangnail309 Champion Author Manitoba Posts:1,444 Points:761,590 Joined:Aug 2006	Message Posted: Feb 9, 2010 7:21:15 AM Ignore Hangnail309 Report Abuse China is on the move again.
dabayer All-Star Author New Hampshire Posts:710 Points:226,735 Joined:Oct 2005	Message Posted: Feb 9, 2010 7:20:31 AM Ignore dabayer Report Abuse They need to spend our money somehow.
SpruceGuse2 Champion Author Michigan Posts:4,898 Points:1,493,665 Joined:Mar 2006	Message Posted: Feb 9, 2010 7:20:23 AM Ignore SpruceGuse2 Report Abuse Leave it to China.....................................
danno27 All-Star Author Miami Posts:805 Points:426,275 Joined:Jun 2006	Message Posted: Feb 9, 2010 7:20:14 AM Ignore danno27 Report Abuse No oil in China ?? Is the resource not available or is it because they choose not to develop/use their own at this time ?
turbosaab Champion Author Cleveland Posts:9,135 Points:1,438,665 Joined:Sep 2006	Message Posted: Feb 9, 2010 7:19:49 AM Ignore turbosaab Report Abuse There will be a big bump in prices when they begin filling the farm.
curlypooh Champion Author New Jersey Posts:4,952 Points:1,037,165 Joined:Apr 2007	Message Posted: Feb 9, 2010 7:17:48 AM Ignore curlypooh Report Abuse Use up other people's oil, then walk away. That's what we have to do with all the 'tree huggers' here.
Valricoslash Champion Author Tampa Posts:1,788 Points:396,295 Joined:Nov 2008	Message Posted: Feb 9, 2010 7:13:01 AM Ignore Valricoslash Report Abuse I can't believe that there is no oil in China the second largest country in the world. Instead they are going to suck up a major supply from the middle east and drive the prices up again.
ED6 Champion Author Riverside Posts:5,149 Points:1,000,710 Joined:Jul 2007	Message Posted: Feb 9, 2010 7:12:29 AM Ignore ED6 Report Abuse It's smart thing to do if you have the resources.
weenerdog Champion Author Detroit Posts:4,938 Points:942,870 Joined:Jan 2008	Message Posted: Feb 9, 2010 7:10:47 AM Ignore weenerdog Report Abuse good for them
racerdj Champion Author Indianapolis Posts:4,920 Points:1,082,760 Joined:Jun 2003	Message Posted: Feb 9, 2010 7:10:39 AM Ignore racerdj Report Abuse China on the move again.
lindact Champion Author New Haven Posts:4,024 Points:789,365 Joined:May 2008	Message Posted: Feb 9, 2010 7:09:33 AM Ignore lindact Report Abuse China wants to call the shots, not lay down and take it like we do.
paoli8 Champion Author Philadelphia Posts:2,982 Points:931,685 Joined:Jul 2007	Message Posted: Feb 9, 2010 7:09:16 AM Ignore paoli8 Report Abuse The Chinas apparently understands the importance of oil products in its future.
Badmoon Champion Author Massachusetts Posts:3,356 Points:677,990 Joined:Oct 2008	Message Posted: Feb 9, 2010 7:08:25 AM Ignore Badmoon Report Abuse More storage to stabalize prices.
applejoe Champion Author Twin Cities Posts:2,687 Points:556,295 Joined:May 2001	Message Posted: Feb 9, 2010 7:08:04 AM Ignore applejoe Report Abuse That should put a few people to work.
kidwhamo Champion Author Detroit Posts:1,310 Points:920,190 Joined:Feb 2005	Message Posted: Feb 9, 2010 7:06:43 AM Ignore kidwhamo Report Abuse how does this affect the prices of oil/gas here?
Fitwit Champion Author Stockton Posts:2,083 Points:454,220 Joined:May 2009	Message Posted: Feb 9, 2010 7:04:58 AM Ignore Fitwit Report Abuse I am getting tired of articles on oil and China. There are other articles that have more votes why aren't they in the top 5 news articles?
Cachase1 Champion Author Oklahoma City Posts:6,468 Points:1,404,655 Joined:Aug 2003	Message Posted: Feb 9, 2010 7:04:14 AM Ignore Cachase1 Report Abuse It is wise to plan for the future if you have the resources available.
gasandgoAL Champion Author Alabama Posts:1,951 Points:614,380 Joined:Sep 2008	Message Posted: Feb 9, 2010 7:03:22 AM Ignore gasandgoAL Report Abuse I would like to know how it is going to effect the environment and what is located near this tank farm
AvantiMick Champion Author Indiana Posts:8,031 Points:1,604,395 Joined:Dec 2005	Message Posted: Feb 9, 2010 7:03:20 AM Ignore AvantiMick Report Abuse There go oil prices until they are filled!
us412 Champion Author Arkansas Posts:13,525 Points:1,459,945 Joined:Apr 2006	Message Posted: Feb 9, 2010 7:02:59 AM Ignore us412 Report Abuse These Chicoms are serious about supporting their industrial infrastructure while we squander our industrial(read jobs) heritage on the alter of everything GREEN. What idiocy in the USA.
chuck81 Veteran Author Michigan Posts:267 Points:435,490 Joined:Jul 2008	Message Posted: Feb 9, 2010 6:59:24 AM Ignore chuck81 Report Abuse maybe we can store some oil there
CSharpGuy Champion Author Colorado Springs Posts:4,569 Points:928,360 Joined:Jan 2008	Message Posted: Feb 9, 2010 6:58:46 AM Ignore CSharpGuy Report Abuse Big potential for an oil spill if it is made with the same quality as their children's toys.
DrivingFool2 Champion Author Wisconsin Posts:3,492 Points:649,740 Joined:Apr 2005	Message Posted: Feb 9, 2010 6:57:41 AM Ignore DrivingFool2 Report Abuse Life goes on, oil prices will rise
indyjim Champion Author Indianapolis Posts:4,768 Points:1,350,645 Joined:Jul 2006	Message Posted: Feb 9, 2010 6:57:01 AM Ignore indyjim Report Abuse I hope it meets international standards. The ecological damage from underground leaks could be devestating.
spiderjay Champion Author Little Rock Posts:2,250 Points:582,555 Joined:Oct 2005	Message Posted: Feb 9, 2010 6:53:04 AM Ignore spiderjay Report Abuse china is taking the best of the USA ideas and running with it and they do seem to be holding all the cards
rocket_ron Champion Author Grand Rapids Posts:1,423 Points:1,042,915 Joined:Jul 2006	Message Posted: Feb 9, 2010 6:52:26 AM Ignore rocket_ron Report Abuse They will be pulling more oil from market to fill this farm up. More demand, less supply = higher prices. That's how it affects us.
RoadhogMA Champion Author Boston Posts:2,094 Points:477,600 Joined:Dec 2008	Message Posted: Feb 9, 2010 6:51:08 AM Ignore RoadhogMA Report Abuse Good for them .
72_Monte Champion Author Twin Cities Posts:2,835 Points:1,025,955 Joined:Aug 2005	Message Posted: Feb 9, 2010 6:50:36 AM Ignore 72_Monte Report Abuse I'm sure that this will in no way negatively impact their already over-polluted lands.
jppezz Champion Author New Mexico Posts:3,649 Points:717,130 Joined:Jun 2008	Message Posted: Feb 9, 2010 6:50:33 AM Ignore jppezz Report Abuse China will be the number 1 economy very soon,Thank you Obama.
ILANGE9 Champion Author Illinois Posts:2,539 Points:624,480 Joined:Sep 2008	Message Posted: Feb 9, 2010 6:48:52 AM Ignore ILANGE9 Report Abuse This affects me how?
abuck Champion Author Pittsburgh Posts:3,302 Points:592,120 Joined:Jul 2008	Message Posted: Feb 9, 2010 6:45:57 AM Ignore abuck Report Abuse anyone really shocked at this?
mark1962 Champion Author Albany Posts:1,531 Points:332,645 Joined:Sep 2009	Message Posted: Feb 9, 2010 6:44:48 AM Ignore mark1962 Report Abuse they are going to let us hang out to dry when it suits their interests.
TeachR06 Champion Author Raleigh Posts:3,535 Points:1,012,760 Joined:Sep 2006	Message Posted: Feb 9, 2010 6:44:42 AM Ignore TeachR06 Report Abuse And they are having huge issues with pollution that they say they are working on slowly due to the economy. I guess this is why. building those reserves.
hooky Champion Author Michigan Posts:14,089 Points:1,455,295 Joined:Sep 2005	Message Posted: Feb 9, 2010 6:43:06 AM Ignore hooky Report Abuse And, the point is?