The Wall Street Journal wrote last night (May 26): "China's hidden reserves may be the reason oil prices haven't surged further. According to MarketWatch, some analysts suggest that the Chinese government is likely using its strategic petroleum reserves to support the global market. The country may be drawing upon crude oil and refined product inventories that are statistically invisible to maintain demand."
[Witty] A few comments: To suppress China's economic development, the U.S. launched a trade war, only to find it largely ineffective. Then they concluded: China's manufacturing capabilities exceed American expectations. To curb China's manufacturing strength, the U.S. initiated an energy war—but discovered that China's industry wasn't broken by oil shortages. So they speculated: China’s strategic petroleum reserves are 'statistically invisible.' This Wall Street Journal report reads less like a revelation and more like Washington’s self-comfort after a strategic miscalculation. The old playbook of crippling adversaries by cutting off oil supplies has utterly failed in China, where decades of quiet investment in new energy, low-profile stockpiling, diversified supply channels, and countercyclical accumulation have fundamentally reshaped the game.
Original: toutiao.com/article/1866302859022340/
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