Rubio, Scott Introduce Bill to Ban Oil Exports to China

[BBMW]

Given how much we buy from China, it would be nice to get some of that money back.

[momonkey]

Originally Posted by Independentthinking83

Why did trump ban drilling for more oil off the coast of Florida as well as any other states? And you see desantis applauding this drilling ban in the picture.

https://www.politico.com/news/2020/0...florida-410042

This again...

He extended an existing ban on Florida's Gulf Coast to include the East Coast of Florida and the waters off the coast of Georgia and South Carolina.

The off-shore drilling ban has existed in many forms since 1969 and continues to evolve.

https://www.washingtonpost.com/wp-dy...071302052.html

When the ban was expanded, gas cost $2.27/gallon.

Of course, the subject would be much less controversial if the Obama administration didn't repeatedly issue exemptions to mandatory environmental impact studies and allow companies like BP to do "self-assessments" of spill hazards...


Last year the Obama administration granted oil giant BP a special exemption from a legal requirement that it produce a detailed environmental impact study on the possible effects of its Deepwater Horizon drilling operation in the Gulf of Mexico, an article Wednesday in the Washington Post reveals.

https://www.wsws.org/en/articles/2010/05/gulf-m06.html

[cdnirene]

Originally Posted by AtkinsonDan

It does not need to be a monopoly, removing a significant chunk of imports would still cripple China's economy.

As I already pointed out, the U.S. does not have a monopoly on the raw materials that China imports. Other countries would gladly export more raw materials to China to replace any shortfall from the U.S.

Originally Posted by Enough_Already

I see you come from the Biden I can't do anything school. The American people are suffering, it is time to do something.

I’m a Canadian. My viewpoints are not formed by Biden. I don’t think I’ve even watched the man speak more than a handful of times.

Taking action based on actual facts is intelligent. Taking action based on the false assumption that the U.S. can collapse the Chinese economy because of its imaginary monopoly of raw materials is dumb. Any such action will not meet the intended goal.

Originally Posted by MrCoffee57

Russia primarily exports natural gas. I'm not sure if Russia can offset this by exporting more oil to China.

China and Russia share an incredibly long landborder with many pipelines. If China could buy from Russia, it would already being so, since it will be cheaper than importing by ship from the USA.

It is.

China quietly increases purchases of low-priced Russian oil

China is quietly ramping up purchases of oil from Russia at bargain prices, according to shipping data and oil traders who spoke to Reuters, filling the vacuum left by Western buyers backing away from business with Russia after its invasion of Ukraine in February.

The low price of Russia’s oil – spot differentials are about $29 less per barrel compared with before the invasion, according to traders - is a boon for China’s refiners as they face shrinking margins in a slowing economy. The price is well below competing barrels from the Middle East, Africa, Europe and the United States.

That’s why I posted that the bill by Rubio and Scott appears to be simply political theater.