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Sat Nov 21, 2020, 09:40 PM

China Is Set to Eclipse America as World's Biggest Oil Refiner

(Bloomberg) -- Earlier this month, Royal Dutch Shell Plc pulled the plug on its Convent refinery in Louisiana. Unlike many oil refineries shut in recent years, Convent was far from obsolete: itís fairly big by U.S. standards and sophisticated enough to turn a wide range of crude oils into high-value fuels. Yet Shell, the worldís third-biggest oil major, wanted to radically reduce refining capacity and couldnít find a buyer.

As Conventís 700 workers found out they were out of a job, their counterparts on the other side of Pacific were firing up a new unit at Rongsheng Petrochemicalís giant Zhejiang complex in northeast China. Itís just one of at least four projects underway in the country, totaling 1.2 million barrels a day of crude-processing capacity, equivalent to the U.K.ís entire fleet.

The Covid crisis has hastened a seismic shift in the global refining industry as demand for plastics and fuels grows in China and the rest of Asia, where economies are quickly rebounding from the pandemic. In contrast, refineries in the U.S and Europe are grappling with a deeper economic crisis while the transition away from fossil fuels dims the long-term outlook for oil demand.

America has been top of the refining pack since the start of the oil age in the mid-nineteenth century, but China will dethrone the U.S. as early as next year, according to the International Energy Agency. In 1967, the year Convent opened, the U.S. had 35 times the refining capacity of China.

https://www.msn.com/en-us/money/markets/china-is-set-to-eclipse-america-as-world-s-biggest-oil-refiner/ar-BB1beSt3?li=BBnbfcN&ocid=DELLDHP

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Reply China Is Set to Eclipse America as World's Biggest Oil Refiner (Original post)
Yo_Mama_Been_Loggin Saturday OP
Timewas Saturday #1
gladium et scutum Saturday #2
Timewas Saturday #3
PoindexterOglethorpe Saturday #4
Klaralven Saturday #5
DBoon Saturday #6
abqtommy Saturday #7

Response to Yo_Mama_Been_Loggin (Original post)

Sat Nov 21, 2020, 09:48 PM

1. Last 4 years

The US ceded all leadership in almost every category

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Response to Timewas (Reply #1)

Sat Nov 21, 2020, 10:28 PM

2. Will the incoming Administrationl

promote more drilling, more fracking, more refineries, All to remain the largest producer of fossil fuels? Just so that we don't cede leadership in this category.?

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Response to gladium et scutum (Reply #2)

Sat Nov 21, 2020, 10:29 PM

3. I doubt

I doubt that will happen that particular category is better gone

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Response to Yo_Mama_Been_Loggin (Original post)

Sat Nov 21, 2020, 10:31 PM

4. And that improves climate change how?

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Response to Yo_Mama_Been_Loggin (Original post)

Sat Nov 21, 2020, 10:34 PM

5. China's oil consumption is only 139 gallons per capita annually, compare with our 934

Once their living standard rises to match ours, they should use about 4 times as much oil as the US.

https://www.worldometers.info/oil/oil-consumption-by-country/

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Response to Yo_Mama_Been_Loggin (Original post)

Sat Nov 21, 2020, 10:39 PM

6. China also exceeds the USA in generating solar electricity via photovoltaics

https://en.wikipedia.org/wiki/Solar_power_by_country

China overwhelms the US in total solar generation

Per capita generation - Australia and many EU countries greatly exceed the USA

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Response to Yo_Mama_Been_Loggin (Original post)

Sat Nov 21, 2020, 11:16 PM

7. I was fortunate to make several trips to China in the 1990s. China is a big country with a

big population. I made many friends there and they accomplish pretty much anything that
they want to. Just a heads up: they'll make better friends than enemies!

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