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2009-03-12 China-Japan-Koreas
China stocks up on bargain oil
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Posted by ed 2009-03-12 13:05|| E-Mail|| Front Page|| [6467 views ]  Top

#1 In return, according to Russian news reports, China will receive 300,000 barrels of crude a day for the next 20 years at a rate of about $20 a barrel less than half the current price of $45.

And if Russia keeps up its end of the bargain, they'll still be receiving that $ 25.00/bbl oil for its plastics refineries and its factories even if oil rebounds to the point where we're paying $ 80/bbl.
Posted by Thing From Snowy Mountain 2009-03-12 20:48||   2009-03-12 20:48|| Front Page Top

#2 And if Russia keeps up its end of the bargain

ahem.... they'll throw in a Carrier cheap, too. It just needs some work, k? Which they'll do for time and materials, plus shipping and handling, plus...
Posted by Frank G 2009-03-12 20:59||   2009-03-12 20:59|| Front Page Top

#3 Now you know why oil has gone up $10/barrel even as economic data is worsening.
Posted by ed 2009-03-12 21:02||   2009-03-12 21:02|| Front Page Top

#4 Frank, what's the price Russia is charging (oh, to take one example) Ukraine for the same oil they're providing TODAY to China for $ 25/bbl?
Posted by Thing From Snowy Mountain 2009-03-12 22:22||   2009-03-12 22:22|| Front Page Top

#5 Doesn't that kinda hint that Russia believes some pigs are more equal than others?
Posted by Thing From Snowy Mountain 2009-03-12 22:23||   2009-03-12 22:23|| Front Page Top

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