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Page added on August 5, 2018
China tariffs on LNG, oil aim at US energy dominance agenda
China’s proposed tariffs on U.S. liquefied natural gas and crude oil exports opens a new front in the trade war between the two countries, at a time when the White House is trumpeting growing U.S. energy export prowess.
China included LNG for the first time in its list of proposed tariffs on Friday, the same day that its biggest U.S. crude oil buyer, Sinopec, suspended U.S. crude oil imports due to the dispute, according to three sources familiar with the situation.
On Friday, China announced retaliatory tariffs on $60 billion worth of U.S. goods, and warned of further measures, signaling it will not back down in a protracted trade war with Washington.
That could cast a shadow over U.S. President Donald Trump’s energy dominance ambitions. The administration has repeatedly said it is eager to expand fossil fuel supplies to global allies, while Washington is rolling back domestic regulations to encourage more oil and gas production.
“The juxtaposition here is clear: it is hard to become an energy superpower when one of the biggest energy consumers in the world is raising barriers to consume that energy. It makes it very difficult,” said Michael Cohen, head of energy markets research at Barclays.
The United States is the world’s largest exporter of fuels such as gasoline and diesel, and is poised to become one of the largest exporters of LNG by 2019. U.S. LNG exports were worth $3.3 billion in 2017. China is the world’s biggest crude oil importer.
China had curtailed its imports of U.S. LNG over the last two months, even before its formal inclusion in the list of potential tariffs. It had also become the largest buyer of U.S. crude oil outside of Canada, but Kpler, which tracks worldwide oil shipments, shows crude cargoes to China have also dropped off in recent months.
It comes at a time when the United States has several large-scale LNG export facilities under construction, and after Trump’s late 2017 trip to China that included executives from U.S. LNG companies.
China became the world’s second-biggest LNG importer in 2017, as it buys more gas in order to wean the country off dirty coal to reduce pollution.
“This will not affect the trade but will simply make gas more expensive to Chinese consumers,” said Charif Souki, chairman of Tellurian Inc (TELL.O), one of several companies seeking to build a new LNG export terminal.
China, which purchased almost 14 percent of all U.S. LNG shipped between February 2016 and May 2018, has taken delivery from just one vessel that left the United States in June and none so far in July, compared with 17 in the first five months of the year.
“The U.S. gas industry will be much harder hit by this as China imports only a small volume whereas U.S. suppliers see China as a major future market,” said Lin Boqiang, professor on energy studies at Xiamen University in China.
(For an interactive graphic on U.S. LNG shipments to China, see tmsnrt.rs/2n9bQKn)
Meanwhile, according to Kpler, crude exports to China dropped to an estimated 226,000 barrels per day (bpd) in July, after reaching a record 445,000 bpd in March. Sinopec, through its Unipec trading arm, is the largest buyer of U.S. crude.
China would likely hike purchases from Saudi Arabia, Russia, the United Arab Emirates and Iraq if the tariffs slowed U.S. flows, said Neil Atkinson, head of the oil industry and markets division at the International Energy Agency.
There will be “others who will be offering barrels to China, so it could find itself able to replace lost volumes from the U.S.,” Atkinson said.
With LNG demand expected to skyrocket over the next 12 to 18 months, there are still some two dozen firms seeking to build new LNG export terminals in the United States and tariffs may limit their ability to secure sufficient buyers to finance their proposed projects.
“Cheniere continues to see China as an important growth market and LNG as a ‘win-win’ between the United States and China,” said Eben Burnham-Snyder, a spokesman at Cheniere Energy Inc (LNG.A), which owns one of the two LNG export terminals currently operating in the United States. He added they do not see tariffs as productive.
One project being developed is in Alaska, which would carry natural gas through an 800-mile (1,287 km) pipeline across the state to a terminal that would convert it to LNG to take it to China.
The $43 billion project is still in development, and the Alaska Gasline Development Corp said on Friday that it believes the “current trade tensions between the United States and China will be resolved well in advance of Alaska LNG exports to China.”
39 Comments on "China tariffs on LNG, oil aim at US energy dominance agenda"
makati1 on Sun, 5th Aug 2018 5:54 pm
Trumpet, the Destroyer of America! LOL
Antius on Sun, 5th Aug 2018 6:20 pm
“Engineering a decade of rolling Chinese financial crises would be the most effective foreign policy the US could run.” Forget about the South China Sea, don’t bother with more aircraft carriers, just let Beijing try to cope with their financial system.
“And we’re 80% of the way there – we instigated a trade war, implemented a massive fiscal stimulus, which created the room to raise interest rates. The combined policy mix makes capital want to leave at the same time it makes the dollar more attractive and effectively shuts down new investment inflows to China.”
https://www.zerohedge.com/news/2018-08-05/china-now-left-just-three-options-and-they-are-all-equally-bad
There would still appear to be scant understanding as to just how effectively the next financial crisis is going to pound both nations back into the great depression.
BobInget on Mon, 6th Aug 2018 10:30 am
https://srsroccoreport.com/the-u-s-government-to-fork-out-a-half-trillion-to-service-its-debt-in-2018/
Debt service alone. Not a penny toward principal.
How is this sustainable?
I seriously would like to know.
rockman on Mon, 6th Aug 2018 11:06 am
China gets an insignificant amount of its crude oil imports from the US: 2%.
http://www.worldstopexports.com/top-15-crude-oil-suppliers-to-china/
In reality China could ban all US oil imports and it would have no meaningful effect on our industry. And China imports a much smaller % of US refinery products.
https://www.eia.gov/dnav/pet/pet_move_expc_a_EPP0_EEX_mbblpd_m.htm
Boosting tariffs on all US energy imports is just for show and has no meaningful effect on either countries economy.
rockman on Mon, 6th Aug 2018 11:20 am
And LNG: in May China bought 11% of US LNG exports. More: in May China bought 3.8% of all US NG exports.
https://www.eia.gov/dnav/ng/ng_move_expc_s1_m.htm
Again increased tariffs not much of a news story for the US NG industry.
Boat on Mon, 6th Aug 2018 3:25 pm
It was last year the US became a Nat gas net exporter. The US is still a net oil importer. UD dominance? Fake news click bait for guys like mak.
makati1 on Mon, 6th Aug 2018 7:15 pm
“As tariffs are added and prices go up on goods and services to combat increasing government regulation of the economy, China insists it can handle a trade war with the US. Of course, they can; since American consumers are going to be ones footing the bill for this horrific idea….
The declaration of a survival of the trade war appears to be in response to the Chinese government’s announcement on Friday, that a list of possible tariffs could affect imported goods. The tariffs range from 5% to 25% on $60 billion worth of U.S. agricultural, metal, and chemical goods….
The Chinese actually have savings on hand to spend in case of emergency. The same cannot be said about the average American. Most Americans live paycheck to paycheck; meaning any increase in the cost of goods or services could be detrimental.”
http://www.shtfplan.com/headline-news/china-taunts-the-us-we-will-survive-your-trade-war_08062018
Slip slidin’…
makati1 on Mon, 6th Aug 2018 7:41 pm
“Preparing for World War III, Targeting Iran”
‘The sabers are rattling. Propaganda is being blared from the loudspeakers. The MSM is issuing the fearmongering alerts. Israel has activated their bought off Congressmen. The Greater Depression is upon us. Elections are only 3 months away. How will the ruling elite distract the American people from their economic plight? I wonder.”
https://www.theburningplatform.com/page/1999/
“World War III is terminal. Albert Einstein understood the perils of nuclear war and the extinction of life on earth, which has already started with the radioactive contamination resulting from depleted uranium. “I know not with what weapons World War III will be fought, but World War IV will be fought with sticks and stones.”” American insanity. Nuff said.
Antius on Mon, 6th Aug 2018 8:23 pm
This chart resolves any question over who is winning the trade war.
https://www.zerohedge.com/sites/default/files/inline-images/2018-08-06_13-04-11.jpg?itok=za-Wc7Xa
But the US consumer will pay for the trade war in higher prices. As prosperity has declined for a large number of Americans, cheap Chinese goods have cushioned the blow. Trade tariffs will effectively reduce the purchasing power of the dollar in its home market. That pushes up inflation at a time when debt burdens are getting heavier thanks to rising interest rates and energy costs are creeping up. The trade war will certainly bring forward the date of the next global financial crisis.
fmr-paultard on Mon, 6th Aug 2018 8:33 pm
look at this video where a mayor is shot by a sniper, to date there are 10 mayors killed before and after elections.
this is due to lack of supertards and a clear sign of a failed state. once duterte is killed the revenge killing will run out of control and can not be stopped.
https://www.liveleak.com/view?t=saCFr_1533586926
MASTERMIND on Mon, 6th Aug 2018 10:42 pm
Mak
Make sure you buy some of that packaged food for sale at SHTFPLAN.com…
Scaremongering elderly people is like shooting fish in a barrel.
LMFAO!
makati1 on Mon, 6th Aug 2018 11:36 pm
MM: Make sure you buy that gun and bullet before they stop sales. It would be painful if you had to find a slower way. Either way, your days are short numbered, couch potato.
I buy nothing from the site. I just find interesting viewpoints there.
I can grow all the food I need and more. You cannot. Think about that.
I cannot freeze to death here. You can. Think about that.
I have a place safe from armed gangs. You don’t. Think about that.
I don’t need an income. You do. Think about that.
I live in a democracy. You don’t. Think about that.
Noone hates the Philippines. Most of the world hates the US. Think about that.
Think MM. It may be a new experience for you. LOl
Boat on Tue, 7th Aug 2018 12:21 am
Mak
Duterte is Trump with less education and street thug instincts. Killing off his mayor’s is not a cornerstone of any democracy. That dude like you has a screw loose. Lol
Your area is not attractive to gangs because your so poor you grow your own food.
All the world asks is keep your tribe at home. Millions left the P’s to escape. Put them to work in your garden please. There are plenty of short workers already. The population is in overshoot. Tiny rubbers can’t cost that much.
makati1 on Tue, 7th Aug 2018 12:51 am
Boat: Duterte’s actions are supported by over 70% of Filipinos. Trumps is lucky if he has half that support from Americans.
As for the war on drugs and corruption here. it is working. He is getting rid of the old school government supported by the US and installing a new government ind dependent of the Us and moving toward China and Russia. Much more ‘intelligent’ than Trumpet who kisses the Jewish ass.
“The SWS survey, involving 1,200 adult respondents across the country, found in March that 78% were satisfied with the administration’s performance in its campaign against illegal drugs, with 43% ‘very satisfied’ and 35% ‘somewhat satisfied.’ Ten percent were undecided, while only 12% were dissatisfied.”
http://www.atimes.com/article/filipinos-support-dutertes-drug-war/
“After firing a number of presidential appointees for corruption, President Duterte has announced his resolve to clean up the ranks of local government executives in line with his commitment to promote public accountability. According to Presidential Spokesman Harry L. Roque Jr., the President informed his Cabinet last month that he will continue with the process of cleansing the bureaucracy. The President, Roque said, intends to clean up the ranks of the local government executives to highlight that it’s not just presidential appointees that would be subject to the Duterte administration’s anticorruption campaign. This includes everyone in the government.”
https://businessmirror.com.ph/lets-support-duterte-in-fight-vs-corruption/
You have no first hand info or experience with the Ps or Duterte. All you have is Us propaganda.
I see what is happening and support him all the way. Not so, Trumpet. Trumpet is the bull destroying the American china shop. Wait and see.
Try telling Catholics to use birth control. 85% of Filipinos are catholic and actually practice their faith, unlike the Americans who go to church only on special days like Christmas and Easter.
Millions of Americans are moving out of the Us to escape the police state. There are hundreds of thousands of Americans living in the Ps these days. Permanently.
“…there are over 8 million non-military Americans living overseas.”
https://www.transitionsabroad.com/listings/living/living_abroad/living_abroad_by_country.shtml
Keep slurping down that government ‘Koolaid’, Boat. It’s killing whats left of your brain cells.
Thousands are giving up their US Passports every year.
“Last year, a record 4,279 people renounced their citizenship.”
https://www.washingtonpost.com/news/wonk/wp/2016/06/01/why-americans-are-giving-up-citizenship-in-record-numbers/?utm_term=.840940b01a60
IF America is so great, why are they doing that Boat?
Boat on Tue, 7th Aug 2018 1:05 am
Mak
You were the Trump supporter, not me. America is doing just fine in the big picture. Your avg Joe will never know what living can be like in a modern country.
So your millions vrs a few thousand leaving the home country. Your sense of perspective is silly.
Davy on Tue, 7th Aug 2018 1:50 am
“MM: Make sure you buy that gun and bullet before they stop sales. It would be painful if you had to find a slower way. Either way, your days are short numbered, couch potato.”
Billy 3rd world, you have this obsession with guns and suicide. Are you fantasizing?
“I buy nothing from the site. I just find interesting viewpoints there.”
That would not be from you and the gang
“I can grow all the food I need and more. You cannot. Think about that.”
You don’t grow it. You are always here and you don’t have a smart phone.
“I cannot freeze to death here. You can. Think about that.”
Earthquakes, Tsunamis, floods, Volcanism, Terrorism, extrajudicial killings, you have plenty to worry about. If a global collapse comes then you will be put to the test when Manila depopulates. 20MIL people will be scavenging the countryside.
“I have a place safe from armed gangs. You don’t. Think about that.”
No gangs around here
“I don’t need an income. You do. Think about that.”
You live on social security. Think about that.
“I live in a democracy. You don’t. Think about that.”
Last I looked we have a Democracy as good as the P’s
“Noone hates the Philippines. Most of the world hates the US. Think about that.”
BS, extremist anti-Americans hate the US but not everyone. Most people aren’t rabid and virulent and in a fantasy stupor daily and obsessively like you.
“Think MM. It may be a new experience for you.”
Dito, for you billy 3rd world.
Davy on Tue, 7th Aug 2018 1:54 am
‘Thousands are giving up their US Passports every year. “Last year, a record 4,279 people renounced their citizenship.”
Out of 360MIL people LMFAO at the nothingburger. Billy 3rd world try looking at how many people want to be US citizens including your glorious over populated P’s
makati1 on Tue, 7th Aug 2018 3:13 am
Boat, you are as uninformed as most Americans about how and what the real world is like outside the 50 states. You spout Us propaganda not facts.
You, and a few other deluded, brainwashed Americans here, are so much American exceptioalist bloody flag wavers that you don’t want to believe that there are better, much better, places to live than the Police State US. Reread my post and the refs, then maybe you can talk intelligently about the subject, Boat.
People do not need to live like Americans to be happy, as you are going to fine out when the SHTF and all of YOUR luxuries, and some of YOUR necessities, go away, permanently. BTW: Few Americans are happy today. “$tuff” does not buy happiness.
makati1 on Tue, 7th Aug 2018 3:19 am
Davy posted eight diarrhea of the mouth comments in less than one hour! Must be frustrating to have to sleep when so much of the real world is awake and posting the truth about the Us. His bullshit is so easy to ignore. lol
Davy on Tue, 7th Aug 2018 3:21 am
“People do not need to live like Americans to be happy”
I agree but billions of Asians are doing just that Billy?
“Few Americans are happy today.”
Nonsesense
Davy on Tue, 7th Aug 2018 3:27 am
“Davy posted eight diarrhea of the mouth comments in less than one hour!”
I don’t see any rebuttals? Does it suck getting your rabid anti-Americanism moderated and neutered?
fmr-paultard on Tue, 7th Aug 2018 6:38 am
aswang phils is failed state
https://en.wikipedia.org/wiki/List_of_countries_by_Fragile_States_Index
big problemm is lack of supertard and no civil resolution of social problems is possible. using bullet to solve problem is a tard way, not supertard way. only supertard way of solving problem is considered civil and attribute of an advanced nation.
i have yet to conclude if supertard generation warfare is superior to iran’s 5th generation warfare but that’s a different issue
makati1 on Tue, 7th Aug 2018 7:41 am
Fmr, you are just one of the retards here who have zero knowledge of the real world. You do know that WIKI is another arm of the US propaganda mill don’t you? Anyone can go into WIKI and change anything they want to. Especially the US government.
Your posts make it look like you are on drugs. No very impressive.
The Us is no longer an “advanced nation”. It is a dying nation being destroyed from within. If you live there, you are personally in debt about $938,636.00 to the government during your life time. Check out the “liability each tax payer” at the bottom line of the numbers here:
http://www.usdebtclock.org/
The Us has a national debt of more than $21,300,000,000,000.00. ($21.3 Trillion) That is 105% of its claimed GDP. (~$65,000.00 per citizen. About 110% of the average American’s annual income.) CIA Factbook stats.
The Ps has a national debt of about $113,000,000,000.00 ($113 Billion) or about 36% of its GDP. (~$1,000.00 per citizen. About 12% of the average Filipino’s income.) CIA
Now, WHO is in the worse place? YOU!
.
fmr-paultard on Tue, 7th Aug 2018 7:44 am
aswang, please listen to supertard davy and boat. you’re are a dumbest tard i ever known
according to wiki phils is this
120,000sq mile, 106 mil or 47th in density
HDI is 116th
us
3797thou sq mile
326mil 179th density
HDI is 10th or very high
aswang supertard (pbuh) is correct in saying it’s a 3rd world hell hole. please be persuated by irreproachable of supertard.
there are two ways to be smart, you can read about it or you can think your way through. since you can’t think becuase you’re a HS dropout, you need to read what supertards have to say. I can’t think but i read everything supertard say and understands everything. boney junatrad can’t do that. that’s why he lives in a boat.
makati1 on Tue, 7th Aug 2018 7:49 am
BTW: For a “failed state”, it is doing at least twice as good as the Us.
Us GDP growth in 2017 = 2.3%
Ps GDP growth in 2017 = 6.8%
https://www.gfmag.com/global-data/economic-data/countries-highest-gdp-growth-2017
makati1 on Tue, 7th Aug 2018 7:52 am
You are sick, fmr. You need psychiatric help. You make retarded people look like genius’.
fmr-paultard on Tue, 7th Aug 2018 7:55 am
aswang, you’re just a very dull tard. i’m a tard and a former paultard. i had a bachelor of arts in physics and i barely graduated. it means i study humanities in addition to physics concentration. you’re a HS dropout you don’t know how to think. i don’t know how to think either. we’re tards but i live in supetardland and you’re not.
aswang, supertards came up with the concept of percentage in an attempt to describe objectivity but like any other forms of communication, context is important. i meant to say those percentage number doesn’t mean anything.
makati1 on Tue, 7th Aug 2018 8:04 am
“7 reasons Americans are unhappy”
https://www.marketwatch.com/story/5-reasons-americans-are-unhappy-2015-10-12
“Why Are So Many White Americans So Unhappy?”http://fortune.com/2016/06/11/unhappiness-stress-americans/
“Why Americans Are Less Happy Than Ever Before”
https://www.shape.com/lifestyle/mind-and-body/world-happiness-report-2017-shows-americans-unhappy
“The unhappy states of America: Despite an improving economy, Americans are glum”
https://www.washingtonpost.com/news/wonk/wp/2018/03/30/the-unhappy-states-of-america-despite-an-improving-economy-americans-are-glum/?utm_term=.b7aa6417f897
Not to mention the drug epidemic and the sharp increase in suicides…lol
makati1 on Tue, 7th Aug 2018 8:10 am
You are a retard, FMR., I don’t care if you claim to be god. You are retarded.
Davy on Tue, 7th Aug 2018 8:21 am
“You are sick, fmr. You need psychiatric help. You make retarded people look like genius’.”
You ever look in the mirror?
fmr-paultard on Tue, 7th Aug 2018 8:40 am
aswang i was tarding like you and i hated my mom and family like mollyneux told his cult followers but i love my mom now. when i was tarding i made moves that cost me a lot of shekles. i’d rather being indecisive as i often am. in my tard circle we have people going south america and libertarian land, even praising mogadishu as libertarian capital. i’m glad i didn’t take the bait. you did and you’re justifying it.
you’ve never done anything in your life. my biggest accomplishment is invention of lazy man farming independently becuase i’m not sure if others had done the same thing way before me.
how come you never quoted anything or anyone notable like jay hanson or even viktor viktor schauberger, they’re supertards. schauberger allowed me to make statement that oroville damn is flawed because it doesn’t take simple physics into consideration. it makes the spillway the same shape top to bottom but reality is energy shifted from potential to kinetic and more destructive at the bottom.
aswang, your links are russian BS and ZH…you never even quoted supertard heinberg, longshoreman or anything. you’re a just a barren soul. you have fear of going hungry and fear of doom. i have fear of going hungry like fuhrer but out of my fear i invented lazy man farming.
MASTERMIND on Tue, 7th Aug 2018 9:33 am
Mak
Nobody is as unhappy as you..You are an old crabby geezer who can’t get it up or laid..
Boat on Tue, 7th Aug 2018 9:52 am
Mak
I have never made a claim the US is a better place to live. Hell there are small Petro countries where citizens get gov dollars without working. What ever makes you happy, go for it.
The US experience has been good for me. After living in several states there is no reason not to enjoy life here.
I hope all humans are happy where they are at except for a few Sharia law extreamist. Go work that garden and be happy.
fmr-paultard on Tue, 7th Aug 2018 10:30 am
aswang you living with savages with weapons up the wazoo and the willingness to use it. you failed to condem a murderer and he made agreement with muslims to give up land for a special sharia zone. this is a catholic nation we’re talking about. there’s no supertards there. speaking of which where is master race theedrich, he better prays to the holy mother before it’s too late.
yeah i said savages because you actually had a civil war with horrific level of destruction just a few months back. and you refuse to look at my assertion that phils is a failed country.
right buddy.
https://youtu.be/ASGvE_A3wB0?t=9612
JuanP on Tue, 7th Aug 2018 11:12 am
Fmr “I can’t think but i read everything supertard say and understands everything. boney junatrad can’t do that. that’s why he lives in a boat.”
I mostly ignore your comments because you make no sense, but every now and then I read one as a mental exercise to see if I can overcome the intellectual barriers that separate us. That’s how I found the gem above. Thanks for the best laugh of my morning! LOL!
makati1 on Tue, 7th Aug 2018 7:54 pm
fmr: Civil war in the Ps? When? Where? I don’t remember reading about one. Refs please.
BTW: A film about Byzantium has nothing to do with your assertion. Byzantium was an ancient Greek colony in early antiquity that later became Constantinople, It is about 9,000 kilometers from the Ps.
JuanP on Wed, 8th Aug 2018 9:38 am
“Russia’s economy reaps benefits from trade war between US and China.”
https://www.rt.com/business/435411-russia-china-trade-growth/
JuanP on Wed, 8th Aug 2018 9:41 am
“China retaliates with 25% tariffs…”
https://www.rt.com/business/435420-china-slaps-tariffs-on-us-goods/
JuanP on Wed, 8th Aug 2018 9:54 am
“China’s trade growth weathers US sanctions headwinds”
http://www.xinhuanet.com/english/2018-08/08/c_137376772.htm