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Thread: Oil rises above $90 amid US crude supply drop

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    Re: Oil rises above $90 amid US crude supply drop


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    Re: Oil rises above $90 amid US crude supply drop

    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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    Re: Oil rises above $90 amid US crude supply drop

    bubba's a dummy?

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    Re: Oil rises above $90 amid US crude supply drop

    meanwhile, more macro:

    China should reduce its excessive foreign exchange reserves and further diversify its holdings, Tang Shuangning, chairman of China Everbright Group, said on Saturday.

    The amount of foreign exchange reserves should be restricted to between 800 billion to 1.3 trillion U.S. dollars, Tang told a forum in Beijing, saying that the current reserve amount is too high.

    China's foreign exchange reserves increased by 197.4 billion U.S. dollars in the first three months of this year to 3.04 trillion U.S. dollars by the end of March.

    Tang's remarks echoed the stance of Zhou Xiaochuan, governor of China's central bank, who said on Monday that China's foreign exchange reserves "exceed our reasonable requirement" and that the government should upgrade and diversify its foreign exchange management using the excessive reserves.

    Meanwhile, Xia Bin, a member of the monetary policy committee of the central bank, said on Tuesday that 1 trillion U.S. dollars would be sufficient. He added that China should invest its foreign exchange reserves more strategically, using them to acquire resources and technology needed for the real economy.
    China should cap forex reserves at 1.3 trillion U.S. dollars: China banker

    qe, anyone?

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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by The Prof View Post
    I wonder what China and the Saudi's are investing all that money in?

    China still leads the world in renewable energy investment


    Saudi Arabia, Qatar & UAE Investing Heavily in Clean Energy
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by Catawba View Post
    Nuclear something environmentalist fight in this country. Keep trying but wind will not meet our needs and environmentalist will fight nuclear

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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by ptif219 View Post
    Nuclear something environmentalist fight in this country. Keep trying but wind will not meet our needs and environmentalist will fight nuclear
    The administration we elected in 08 has committed more funding for nuclear power than any other administration in our history. It it is going to take nuclear, solar, wind, and biofuels altogether to replace our dependency on affordable oil when it runs out in a couple more years. See the warning by the US military last year, they warned it could happen as soon as 2015.

    Tell me something, why do you think China and Saudi Arabia are investing so much into wind and solar technology?
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by Catawba View Post
    The administration we elected in 08 has committed more funding for nuclear power than any other administration in our history. It it is going to take nuclear, solar, wind, and biofuels altogether to replace our dependency on affordable oil when it runs out in a couple more years. See the warning by the US military last year, they warned it could happen as soon as 2015.

    Tell me something, why do you think China and Saudi Arabia are investing so much into wind and solar technology?
    It is called hedgeing your bets. Oil is not running out for a very long time, but the real question is will it be able to produce more and more as the world's economies grow. The sad part is we are sitting on about 100 years of nat gas, but don't seem interested in using it. In all probability you will see China buy up those assets and ship it via liquified nat gas.

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    Re: Oil rises above $90 amid US crude supply drop

    Quote Originally Posted by washunut View Post
    It is called hedgeing your bets. Oil is not running out for a very long time, but the real question is will it be able to produce more and more as the world's economies grow. The sad part is we are sitting on about 100 years of nat gas, but don't seem interested in using it. In all probability you will see China buy up those assets and ship it via liquified nat gas.
    Thats already going on, at least in canada. I saw that petrochina is trying to get a $5+ billion deal with Encana to get a stake in a large nat gas reserve in british columbia and alberta. Not that I see anything wrong with that. We use quite a bit of nat gas for heating and electricity. Its not popular in cars yet, but they do have some filling stations for them. It is cheaper per gallon, but I think you get worse mpg's, that and it is hard to find a place to fill up!

    CNG stations and Prices for the US, Canada and Europe

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