The White House phone lines are estimated to have been flooded, but it's not with calls from 75 countries as rumored; rather, it's American oil and gas operators! A large number of U.S. oil tankers are now stranded at sea, and China has taken decisive action.

According to U.S. media reports, Beijing has halted all imports of liquefied natural gas from the United States. This has left U.S. oil tankers stranded in the Pacific, causing billions of dollars in contracts to be put on hold. China is now turning to cooperation with Australia to meet its natural gas needs. Australia is signing new agreements across Asia and may soon pivot toward Europe, completely cutting ties with U.S. natural gas. Australia has now shifted from being an ally of the U.S. to becoming a competitor.

It’s likely that the U.S. oil and gas producers are calling the White House hotlines nonstop. The operational cost for running a liquefied natural gas tanker is extremely high, with daily rental costs potentially reaching tens of thousands of dollars. Dozens or even hundreds of tankers idling at sea not only result in massive economic losses but also occupy substantial maritime resources.

These contracts were originally long-term supply agreements signed between U.S. energy companies and Chinese buyers to ensure stable energy trade. Now, these contracts have been forced to terminate, dealing a heavy blow to U.S. energy companies. As a major global producer and exporter of natural gas, Australia has been actively expanding its Asian market in recent years.

The transformation of Australia from a U.S. ally to a competitor has severely impacted America's energy export strategy. The U.S. had hoped to stabilize its energy export markets through alliances, but Australia's market expansion actions indicate that alliance relationships become fragile in the face of interests. The U.S. has not only lost China, an important natural gas export market, but also faces competition pressure from allies, casting a darker shadow over its energy export prospects.

Source: https://www.toutiao.com/article/1829524910021833/

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