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. ZeroGravitas · 1790682657 · focus · HN ↗
    You seem to basically understand that Trump is a chaotic fool yet you've still bought into the 4D chess explanation for this war.
    Ignoring the reality that he let himself be talked into the Iran war by Israel, over strong US military objections. And suggesting instead he's secretly starting a war with China by cutting off oil to the entire far east.
    A move which has only strengthened Chinas power in the region.
    It's recursively stupid all the way down.

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