Sunday, August 11, 2019

Globaloney From CNBC

For people who constantly yap and mewl about "global markets," they don't have much intellectual grip on "global markets."

China is expected to dramatically reduce its intake of U.S. crude imports over the coming weeks, energy analysts have warned, following the latest flare-up in trade war tensions between the world’s two largest economies....
This whine is a re-run of the "soybeans" line.  See, if OrangeManBad doesn't stop his Awful Mean, Nazi, and Racist Tariffs, every farmer and (now) every oil worker will DIE!!


For people who have an IQ north of room temperature, this is comical.  See,  if China must have, say, 200,000,000 barrels of oil every month, China will buy that oil.  If they don't get it from the USA, they'll get it from Venezuela, or Saudi Arabia.  Similarly, if Western Europe needs, say, 200,000,000 barrels every month, they will buy it.

Note well:  the total demand is 400,000,000 bbls.  That didn't change, did it?

So.  The Commies now buy their oil from, say, Venezuela.  But that means Western Europe can't get that 200 million bbls from Venezuela.  So..........

They buy it from the USA!!

And Orange Man Bad gets re-elected. 

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