China’s Oil Futures Contract Is Beginning to Show Its Teeth

[Dan Warnick + 6,100]

2 hours ago, Bhimsen Pachawry said:

(I did read the article you gave a link for. So, I have done my homework! )

There is no weekly congregation in India and hence the decrepit system. By the way, homeless people in India are not exactly homeless but live in slums and thatchments and have families. Generally, people become homeless only when migrating. Almost everyone has some form of family home in villages but when migrating for jobs, they find it hard to afford homes.

Compulsory meeting in India seem to work for muslims though despite having 200 million of them. I am sure it will work for others too

By the way, compulsory is not by use of force but by social obligations and sense of duty. Instead of rights, it must be "duties". Yes, in USA, it is already too late and society is nearing to chaos. The democrats have been hijacked by Arab agents but still people vote for them blindly. Do you think that mass shootings were genuine? They were the work of democrats and Arabs to disarm Americans by false flag attacks.

Absolute freedom is chaos. The only way to be free is to be reasonable and follow natural law and natural justice to best possible extent with right importance to teamwork, management of resources, division of labour and fighting evil and agents of lies & deceit.

Oh Bhimsen.  Where to begin.  We lived, and I worked, in Mumbai for about a year back in 2006 and our son was even born there.  I have been through the slums that you speak of on a daily basis.  It is hard to miss them since they are everywhere.  For you to downplay the situation of the homeless is shameful.  I watched and interacted with the same people day in and day out on the streets of Mumbai; they were not migrating.

You really seem to have a problem when people call you out for using your own terminology against your own arguments, but here is the next one for you:

com·pul·so·ry

kəmˈpəlsərē/

adjective

 

1. required by law or a rule; obligatory.

   "compulsory military service"

   synonyms:

   obligatory, mandatory, required, requisite, necessary, essential;

Anyway, if you use the term "compulsory" then I/we tend to take your meaning to be the same as the definition above.  But now you say it is not by use of force but by social obligations and sense of duty.  

Your next statement:  "Yes, in USA, it is already too late and society is nearing to chaos. The democrats have been hijacked by Arab agents but still people vote for them blindly. Do you think that mass shootings were genuine? They were the work of democrats and Arabs to disarm Americans by false flag attacks."

You have now lost all credibility with me because it is obvious I am debating with a YouTube "educated" person that also believes in conspiracy theories.  As such it is pointless to continue providing facts to every conjecture you put forth.  It is actually painful to realize what level of ignorance (definition is on Google for you) you openly display.  I would invite you to go the U.S. Embassy in New Delhi and apply for a tourist visa to the U.S. and see for yourself.  Do not be discouraged by the vetting process, they only wish to ensure that you plan to exit the U.S. at the end of your visa validity.  One of the most irritating things about my business trips to India is the amount of time and the level of documentation, not to mention the expense, I have to provide in order to secure said visa.  Why does India not encourage business travel to your incredible country?  I don't know.

If, after you spend some time in the U.S., you decide that maybe, just maybe, you were wrong about our country and maybe you would like to stay, then go visit the nearest U.S. Immigration office and apply for citizenship.  It is a long process to become a citizen, but it is not difficult.  Not nearly as difficult as visiting Indian Immigration services, trust me on that!  I have been to U.S. Immigration services many times and have watched my wife being sworn in as a United States citizen.  It was easily the proudest day of our lives, next to our son being born.  Good luck to you and keep studying!

[Bhimsen Pachawry + 72]

55 minutes ago, Dan Warnick said:

Oh Bhimsen.  Where to begin.  We lived, and I worked, in Mumbai for about a year back in 2006 and our son was even born there.  I have been through the slums that you speak of on a daily basis.  It is hard to miss them since they are everywhere.  For you to downplay the situation of the homeless is shameful.  I watched and interacted with the same people day in and day out on the streets of Mumbai; they were not migrating.

India has many problems due to historic reasons. Next, most of the homeless and slums you see in Mumbai is of migrants. Mumbai has majority migrants, not natives. You should have asked which is the native city/place and they would have told you Bihar, UP, Bangladesh etc.

I don't deny the problem in India but I realise that the problems exist because India did not have weekly congregation system in the past which weakened the society.

55 minutes ago, Dan Warnick said:

Anyway, if you use the term "compulsory" then I/we tend to take your meaning to be the same as the definition above.  But now you say it is not by use of force but by social obligations and sense of duty. 

Compulsory is not necessarily force wise. In many societies like Japanese, the society is run on guilt, shame and honour. Also, since you have been to India, I think you know by now that Indians don't care much for laws and that may also be the reason for my mind to not go to use of law or punishment while thinking of compulsory. I think more in the lines of shame, guilt and expulsion from society rather than sending someone to jail! Cultural difference in enforcing norms and customs exist!

1 hour ago, Dan Warnick said:

Your next statement:  "Yes, in USA, it is already too late and society is nearing to chaos. The democrats have been hijacked by Arab agents but still people vote for them blindly. Do you think that mass shootings were genuine? They were the work of democrats and Arabs to disarm Americans by false flag attacks."

You have now lost all credibility with me because it is obvious I am debating with a YouTube "educated" person that also believes in conspiracy theories.  As such it is pointless to continue providing facts to every conjecture you put forth.  It is actually painful to realize what level of ignorance (definition is on Google for you) you openly display.  I would invite you to go the U.S. Embassy in New Delhi and apply for a tourist visa to the U.S. and see for yourself.  Do not be discouraged by the vetting process, they only wish to ensure that you plan to exit the U.S. at the end of your visa validity.  One of the most irritating things about my business trips to India is the amount of time and the level of documentation, not to mention the expense, I have to provide in order to secure said visa.  Why does India not encourage business travel to your incredible country?  I don't know.

I am observing things more carefully. I am seeing a major attempt by Arabs taking advantage of petrodollar vulnerability of USA. You seem to be an emotional person who puts reason below emotions and unwilling to accept the reality. I am concerned that USA may end up transferring technology of advanced military items to Arabs via the democrat moles. If that starts happening, there will be no choice left for India but to initiate war right away.

 

1 hour ago, Dan Warnick said:

If, after you spend some time in the U.S., you decide that maybe, just maybe, you were wrong about our country and maybe you would like to stay, then go visit the nearest U.S. Immigration office and apply for citizenship.  It is a long process to become a citizen, but it is not difficult.  Not nearly as difficult as visiting Indian Immigration services, trust me on that!  I have been to U.S. Immigration services many times and have watched my wife being sworn in as a United States citizen.  It was easily the proudest day of our lives, next to our son being born.  Good luck to you and keep studying!

You don't seem to understand. USA runs on petrodollars and Arabs have asked USA to leave. USA has proposed setting up of Middle East Strategic Alliance (MESA) before leaving to buy time. Also, USA has been producing oil at 4 billion barrels a year, again due to middle east asking USA to reduce oil imports. This will eventually lead to situation whereby USA will run out of oil and hence collapse. Why would I come to USA?

[jose chalhoub + 388]

Maybe Venezuela would be taking some winning out of having its barrel prices quoted in renmimbis, although i dont really know if its worth or important after all since our largest exports of oil are to the U.S. and paid in U.S. dollars. 

[Epic + 390]

9 hours ago, Qanoil said:

 

Truth does not fear investigation.  

[Tom Kirkman + 8,860]

6 hours ago, Bhimsen Pachawry said:

I am observing things more carefully. I am seeing a major attempt by Arabs taking advantage of petrodollar vulnerability of USA. You seem to be an emotional person who puts reason below emotions and unwilling to accept the reality. I am concerned that USA may end up transferring technology of advanced military items to Arabs via the democrat moles. If that starts happening, there will be no choice left for India but to initiate war right away.

I'm having a bit of trouble digesting that paragraph.  India will have no choice but to intiate war right away, because ... U.S. Democrats are transferring advanced military technology to Arabs ?

Hmmmmmmmm....

 

[ceo_energemsier + 1,818]

On 7/31/2018 at 4:49 AM, Tom Kirkman said:

Welp, it's been a few weeks since my last gentle reminder nudge about the inexorable, incremental, slow-moving financial tsunami that is the PetroYuan.

Ignoring it won't make it go away.

China’s Oil Futures Contract Is Beginning to Show Its Teeth

Petrodollar will be showing signs of wear-and-tear in the very near future.

We have been documenting the demise of the dollar hegemony for the past several years and the past two years the pace of the demise seems to be moving like a rocket. All the little details since the global financial meltdown in 2008 are now converging and one of the biggest pieces is now showing its teeth – the Chinese oil futures contract priced in yuan is growing in such a way that by the years end, at the current pace of growth, this contract will present a real challenge to the petrodollar.

 

==============================

/ Side note, I'm in Jakarta this week for the Gas Indonesia exhibition at the Jakarta Convention Center.  Please feel free to drop by if you are nearby, and chew the fat about international oil & gas.

From my experience in global oil trade and dealing with NOC's,  IOC's , SOE's, majors/independents (producers), integrated oil companies, oil trading cos and refiners, I doubt that the Chinese Futures oil market will be a big threat to trading crude oil and petroleum products in US$. It is more stable, convenient and established currency for high value global trade. Some countries may opt to trade in some instances in petro-Yuan. It will also mean the banks that conduct the financial side of the oil trade will have to deal with more Chinese red tape in banking in payment settlements on documentary credits, standby credits, BG's and other financial instruments not to mention the currency devaluation, inflation and per barrel to Yuan  value loss risk.

[Qanoil + 116]

21 hours ago, Epic said:

I found this somewhere along the way and thought it was a good summary:

"FISA-gate may become a more worrisome scandal than either Watergate or Iran-Contra. Why? Because our defense against government wrongdoing -- the press -- is now defending such actions, not uncovering them. Liberal and progressive voices are excusing, not airing, the wrong-doing of the DOJ and FBI.

Apparently, weaponizing government agencies to manipulate voters is no longer considered a crime by the MSM."

Epic, then you might find this interesting. Legal reasoning for declassifying FISA abuses.

https://www.gpo.gov/fdsys/pkg/CFR-2010-title3-vol1/pdf/CFR-2010-title3-vol1-eo13526.pdf

Executive Order 13526 Sec 1.7

"Classification Prohibitions and Limitations. (a) In no case shall information be classified, continue to be maintained as classified, or fail to be declassified in order to:

(1) conceal violations of law, inefficiency, or administrative error;

(2) prevent embarrassment to a person, organization, or agency;

(3) restrain competition; or

(4) prevent or delay the release of information that does not require protection in the interest of the national security."

Edited September 16, 2018 by Qanoil
Typo

[ceo_energemsier + 1,818]

13 hours ago, Bhimsen Pachawry said:

India has many problems due to historic reasons. Next, most of the homeless and slums you see in Mumbai is of migrants. Mumbai has majority migrants, not natives. You should have asked which is the native city/place and they would have told you Bihar, UP, Bangladesh etc.

I don't deny the problem in India but I realise that the problems exist because India did not have weekly congregation system in the past which weakened the society.

Compulsory is not necessarily force wise. In many societies like Japanese, the society is run on guilt, shame and honour. Also, since you have been to India, I think you know by now that Indians don't care much for laws and that may also be the reason for my mind to not go to use of law or punishment while thinking of compulsory. I think more in the lines of shame, guilt and expulsion from society rather than sending someone to jail! Cultural difference in enforcing norms and customs exist!

I am observing things more carefully. I am seeing a major attempt by Arabs taking advantage of petrodollar vulnerability of USA. You seem to be an emotional person who puts reason below emotions and unwilling to accept the reality. I am concerned that USA may end up transferring technology of advanced military items to Arabs via the democrat moles. If that starts happening, there will be no choice left for India but to initiate war right away.

 

You don't seem to understand. USA runs on petrodollars and Arabs have asked USA to leave. USA has proposed setting up of Middle East Strategic Alliance (MESA) before leaving to buy time. Also, USA has been producing oil at 4 billion barrels a year, again due to middle east asking USA to reduce oil imports. This will eventually lead to situation whereby USA will run out of oil and hence collapse. Why would I come to USA?

"USA has been producing oil at 4 billion barrels a year, again due to middle east asking USA to reduce oil imports. This will eventually lead to situation whereby USA will run out of oil and hence collapse"

Wow, everyone may run out of oil at one point or the other.......... Since when does the USA follow orders of the Mid-East? and specially to reduce Us oil imports from the Mid-East. The US has plenty of oil, natgas and other natural gas to sustain over a long time frame. The US energy industry has reshaped the world geopolitics and the US is a major influence now in the world's energy mix. BTW some of the oil that the US produces is far better in quality than most of the Mid-East crude oils, yielding better light ends and middle distillates and saving $$$$ in the process and also better overall in the entire refining process.

OH why is India buying US crude, LNG and coal?

 

[ceo_energemsier + 1,818]

On 7/31/2018 at 4:49 AM, Tom Kirkman said:

Welp, it's been a few weeks since my last gentle reminder nudge about the inexorable, incremental, slow-moving financial tsunami that is the PetroYuan.

Ignoring it won't make it go away.

China’s Oil Futures Contract Is Beginning to Show Its Teeth

Petrodollar will be showing signs of wear-and-tear in the very near future.

We have been documenting the demise of the dollar hegemony for the past several years and the past two years the pace of the demise seems to be moving like a rocket. All the little details since the global financial meltdown in 2008 are now converging and one of the biggest pieces is now showing its teeth – the Chinese oil futures contract priced in yuan is growing in such a way that by the years end, at the current pace of growth, this contract will present a real challenge to the petrodollar.

 

==============================

/ Side note, I'm in Jakarta this week for the Gas Indonesia exhibition at the Jakarta Convention Center.  Please feel free to drop by if you are nearby, and chew the fat about international oil & gas.

https://finance.yahoo.com/news/china-apos-pockets-may-not-182700308.html

[ceo_energemsier + 1,818]

On 7/31/2018 at 4:49 AM, Tom Kirkman said:

Welp, it's been a few weeks since my last gentle reminder nudge about the inexorable, incremental, slow-moving financial tsunami that is the PetroYuan.

Ignoring it won't make it go away.

China’s Oil Futures Contract Is Beginning to Show Its Teeth

Petrodollar will be showing signs of wear-and-tear in the very near future.

We have been documenting the demise of the dollar hegemony for the past several years and the past two years the pace of the demise seems to be moving like a rocket. All the little details since the global financial meltdown in 2008 are now converging and one of the biggest pieces is now showing its teeth – the Chinese oil futures contract priced in yuan is growing in such a way that by the years end, at the current pace of growth, this contract will present a real challenge to the petrodollar.

 

==============================

/ Side note, I'm in Jakarta this week for the Gas Indonesia exhibition at the Jakarta Convention Center.  Please feel free to drop by if you are nearby, and chew the fat about international oil & gas.

https://finance.yahoo.com/news/china-not-surrender-u-demands-trade-talks-state-001007880--business.html

https://finance.yahoo.com/news/chinas-export-dependent-provinces-scramble-123841024.html

 

 

 

[ceo_energemsier + 1,818]

13 hours ago, Bhimsen Pachawry said:

India has many problems due to historic reasons. Next, most of the homeless and slums you see in Mumbai is of migrants. Mumbai has majority migrants, not natives. You should have asked which is the native city/place and they would have told you Bihar, UP, Bangladesh etc.

I don't deny the problem in India but I realise that the problems exist because India did not have weekly congregation system in the past which weakened the society.

Compulsory is not necessarily force wise. In many societies like Japanese, the society is run on guilt, shame and honour. Also, since you have been to India, I think you know by now that Indians don't care much for laws and that may also be the reason for my mind to not go to use of law or punishment while thinking of compulsory. I think more in the lines of shame, guilt and expulsion from society rather than sending someone to jail! Cultural difference in enforcing norms and customs exist!

I am observing things more carefully. I am seeing a major attempt by Arabs taking advantage of petrodollar vulnerability of USA. You seem to be an emotional person who puts reason below emotions and unwilling to accept the reality. I am concerned that USA may end up transferring technology of advanced military items to Arabs via the democrat moles. If that starts happening, there will be no choice left for India but to initiate war right away.

 

You don't seem to understand. USA runs on petrodollars and Arabs have asked USA to leave. USA has proposed setting up of Middle East Strategic Alliance (MESA) before leaving to buy time. Also, USA has been producing oil at 4 billion barrels a year, again due to middle east asking USA to reduce oil imports. This will eventually lead to situation whereby USA will run out of oil and hence collapse. Why would I come to USA?

https://finance.yahoo.com/news/india-cuts-iranian-oil-imports-143000928.html

[ceo_energemsier + 1,818]

On 7/31/2018 at 4:49 AM, Tom Kirkman said:

Welp, it's been a few weeks since my last gentle reminder nudge about the inexorable, incremental, slow-moving financial tsunami that is the PetroYuan.

Ignoring it won't make it go away.

China’s Oil Futures Contract Is Beginning to Show Its Teeth

Petrodollar will be showing signs of wear-and-tear in the very near future.

We have been documenting the demise of the dollar hegemony for the past several years and the past two years the pace of the demise seems to be moving like a rocket. All the little details since the global financial meltdown in 2008 are now converging and one of the biggest pieces is now showing its teeth – the Chinese oil futures contract priced in yuan is growing in such a way that by the years end, at the current pace of growth, this contract will present a real challenge to the petrodollar.

 

==============================

/ Side note, I'm in Jakarta this week for the Gas Indonesia exhibition at the Jakarta Convention Center.  Please feel free to drop by if you are nearby, and chew the fat about international oil & gas.

China isnt the ferocious, financial powerhouse "Asian Tiger" yet to take on the US$ for global large scale petroleum trading and make a significant shift to their currency. I dont think it will even happen in our lifetime.

https://finance.yahoo.com/news/china-pretending-like-trade-war-isnt-happening-185859742.html