Yeah, but that oil the companies need to sell to China. It’s the dirty little secret of the oil industry that the most profitable course of action is to shift the produce around so you sell to those who have no choice and buy from those who are the cheapest. For example, Britain hasn’t had a reliable supply of oil since the end of the Empire and the Iranian revolution.
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The American companies kept them supplied until the seventies, but then with Nixon opening up export to China supplying Britain became less profitable. Meanwhile, the Isles are not connected to the old Soviet and Romanian pipelines, and tankers from the Middle East don’t arrive often enough to supply them alone. There is significant domestic production,.
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