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China Blinks First In LNG Face-Off With US
Published:
China Blinks First In LNG Face-Off With US
https://www.zerohedge.com/news/2018-10-10/china-blinks-first-lng-face-us
Comments
For example, China's use of coal was mentioned, although they said China had an abundance of that energy source. That was once true, but not any longer. It didn't take but a few years of their building dozens of coal burning electrical generating plants (80% of their elec. output) for them to go from a net exporter of coal to importing huge amounts, the #1 coal importer in the world. China imports a large amt. from the U.S. and is considering importing even more to narrow its trade imbalance w/ us.
The wild card/unknown variable - at least how I see it - is the Russia/China pipeline and how that might decrease our leverage. The last I read, it was nearly complete and perhaps all China needs to do is stick to their guns until then. Australian exports of LNG could also alter the equation.
I just hope that Trump hasn't gone too far and his hard stance backfires just in time for the 2020 election. That said, we still needed to hold China's feet to the fire on how they've acted so unfairly on trade. (and how WE let them!)
I was trying to say I don't necessarily take ANYTHING I read, from ANY source, as the Gospel.
I got my EIA (Energy Information Administration) Short-Term Energy Outlook newsletter earlier, always interesting. Nothing specific about LNG, but they're predicting a colder winter and because of that, slightly higher heating fuel costs. They also think our coal imports will be less than usual, so maybe they know something about China buying our coal other than I said in my previous post.
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