China looks to build huge oil supply

Casper Star Tribune ^ | Nov. 23, 2004 | DON LEE

[embedded_rebel]

Christmas came early for Taiwan war planners.

[tom paine 2]

How big is it now?

[Axenolith]

23.6 million barrels x $45 = $1.062 Trillion Billion

<\anal retentive off> ;-)

[VOYAGER]

That would mean in excess of 11,000,000 barrels per storage facility(tank)!

An 85,000 barrel capacity is pretty close to the biggest storage tank I have seen.

We have an old 1930's partially underground 1,000,000 barrel capacty storage facility which is being used as a tourist attraction near our fair city. This huge, by the standards of the time it was constructed by Shell Oil Co. is really a quite large hole in the ground.

As it turned out it failed as a storage facility because the cement lining of the walls and the bottom leaked too much oil to make it a profitable endeavor and was abandoned long before its time.

Not the right kind of technology was available to prevent the leaks from causing failure at that time!

I think the engineers attempted drilling holes to recover the extreme amount of oil lost to leakage but were unsuccessful!

[maestro]

Hundreds of Millions of old Chinese bicyles traded in for hundreds of millions of new Chinese cars....

The U.S.A. to pay the bill in high gas prices...

Europe loves this......

EU dollar vs the U.S.A. dollar.......they ARE NOT the same thing....

[rudypoot]

Opps, thanks for the correction.

[Eric in the Ozarks]

There are some really big breakout crude tanks along the Inner-provincial pipeline coming out of Calgary and down to the states. A dozen different kinds of crude move at various times. Scheduling must be tricky...

[Finalapproach29er]

Enough for US Oil needs for about 30 days.

[monkeywrench]

"...the US, and a large portion therefrom should be targeted to the west coast, which pays higher prices for gasoline and oil.""

They freely elect to pay higher prices.