Thread

U.S. Strategic Petroleum Reserve Falls to Lowest Level Since 1982

182 points · 234 comments · thelastgallon

thelastgallon · 1790653410 · focus · HN ↗
Global oil prices haven't skyrocketed so far thanks to China inverting the OPEC strategy of keeping prices up by destroying supply.
China stopped/reduced buying, used their large reserves, EVs and now accelerating EV trucks. And also coal to liquids.
Eventually, China may have to start buying and thats when the fun begins.
<a href="https://www.nytimes.com/2026/09/17/business/energy-environment/china-oil-iran-war.html" rel="nofollow">https://www.nytimes.com/2026/09/17/business/energy-environme...
<a href="https://oilprice.com/Energy/Coal/Chinas-Renewable-Boom-Masks-a-Quiet-Coal-to-Liquids-Expansion.html" rel="nofollow">https://oilprice.com/Energy/Coal/Chinas-Renewable-Boom-Masks...
China is now the world’s great oil power. Forget OPEC. The Chinese Communist Party calls the shots. <a href="https://news.ycombinator.com/item?id=49238158">https://news.ycombinator.com/item?id=49238158
1. tharmas · 1790654828 · focus · HN ↗
  Essentially the Iran war is to control (i.e. reduce) oil going to China. As long as the straight of hormuz being closed restricts oil being sold/sent to China, tRump doesn't give a damn about other shortages as a result of the closure such as fertilizer which will see food skyrocket in price and many people starve.
  1. pstuart · 1790655050 · focus · HN ↗
    The Iran War was predicated on a manufactured threat of them getting nuclear weapons. That's been the line for some time.
    All reports about the initiation of the war was that Bibi wanted it and manipulated Trump to join in (against the advice of all of those around him warning that the very problem we have now would in fact occur).
    bawolff · 1790659337 · focus · HN ↗
    > The Iran War was predicated on a manufactured threat of them getting nuclear weapons
    its not entirely manufactured. The IAEA report was pretty clear they were violating the rules. It was almost certainly the most damning report the IAEA has ever made in their entire history.
    But yes, the real reason for the war, is that the protests made Iran look weak, so they thought they had a limited-time opportunity to deal with a long term adversary. Iran's proxy strategy threatening US interests in the regions almost certainly had just as much to do with it as the nuclear issue.

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