U.S. Treasury Secretary Scott Bessent said on Tuesday China had been an unreliable global partner during the Middle East war by hoarding oil supplies and limiting exports of some goods, mirroring its actions with medical goods during the COVID-19 pandemic.
Bessent told reporters he had spoken with Chinese officials about the issue. He declined to answer a question about whether the dispute would derail Donald Trump’s plan to visit Beijing in mid-May, but said Trump and Xi Jinping had a very good working relationship.
“I think the message for the visit is stability. We’ve had great stability in the relationship since last summer; that emanates from the top down,” he said. “I think that communication is the key.”
And the US is reliable by plunging the world into an unprecedented crisis based on a mad whim?
Hasn’t China been building the works largest strategic reserve for like more than a decade in case the US tried to cut them off from oil?
They are preparing to stop taking USD, so they need to way to not depend on US energy. Once they have energy independence they will switch to the yuan for global trade.
With all the solar coming online and the rail infra. It can’t be long now.
China’s SPR is the largest in the world, by a lot, but it’s also the world 2nd largest consumer of oil and it imports almost 70% of what it uses.
The US SPR is about 1/3rd the size of China’s but it is also a net exporter with a surplus of around 2.4 Mbbl/s per day.
It’s generally accepted that China has a large enough SPR to cover about 120 days. The US is essentially limitless since, at least on paper, it produces more than it needs.
I viewed some analysis over the weekend proposing that China would run into petroleum problems in mid-June if something doesn’t change with the Iran situation.
US treasury can eat a bag of dicks because their country helped start this war. Fuck trump and fuck bibi.
I’m the last person to defend China but this is just moronic on so many levels. China has been hording oil for a long time and it wasn’t an issue before. But now that the US started an absolutely senseless and ridiculously stupid war in the most incompetent way imaginable they demand stability? Yeah right. Shut up.
That’s some Grasshopper and the Ant reenactment happening.
The fuck have we been since the orange turd began doing Russia’s dirty work‽ I can’t imagine I’ll see the unwinding of all his destruction in my lifetime
Captain Shitshow & the Shitshowettes shit the bed and then cry when others don’t rush to clean up their mess.
This is not brain rot, it’s propaganda, just painfully obvious instead of subtle.
USA is going to sell all its oil reserves and then there will be shortfalls for everyone.
But, don’t worry the oil companies are doing just fine, and that’s waaaay more important than normies having the necessities to live their lives.
Partner? 🤣
USA doesn’t have partners anymore.Well there’s still war mongering Israelis, ultra-rich pedophiles, russian oligarchs and other evil monsters.
Israel is not a partner of USA, they are just exploiting the stupidity of Trump. Same with Putin.
Evil corrupt oligarch are not really partners of nations. They just go where the money or corruption is for them to do their business.
Fucking rich us demanding stability of others.
You’re a goddamn oil producing company, release your own stockpiles, Scrooge!
Maybe Bessent forgot that Trump ordered SoH to be closed.
🙄
I can’t fucking stand that guy.
He definitely plays with his turds before eating them.
I think of him as gay Dr. Strangelove.
