House to Probe China Threat
The Washington Free Beacon, Bill Gertz, May 16, 2018
The House Permanent Select Committee on Intelligence will begin a major inquiry into the threat from China this week in a shift from its past attention on Russian subversion. The committee will hold a series of hearings, both open and in secret, examining threats posed by China in the military sphere, economic and industrial realm, technology arena, and Beijing’s significant influence operations against the United States, said committee aides.
Our Take: Our potential partners are being investigated for the “many challenges they pose to our national security through its aggressive territorial claims, unfair trade policies, espionage and cyber-attacks…”
IEA cuts outlook for global oil demand as crude nears $80 a barrel
Reuters, Reuters Staff, May 16, 2018
Global demand for oil is likely to moderate this year, as the price of crude nears $80 a barrel and many key importing nations no longer offer consumers generous fuel subsidies, the International Energy Agency said on Wednesday. The Paris-based IEA cut its forecast for global demand growth to 1.4 million barrels per day for 2018, from a previous estimate of 1.5 million bpd.
Legislative report misleads on ConocoPhillips profits
The Anchorage Daily News, Roger Marks, May 16, 2018
The Anchorage Daily News reported on May 6, about a report by Legislative Research Services comparing ConocoPhillips’ Alaska profits with profits elsewhere. Suppose you had a company that produced diamonds and gravel, and in some places, you produced more of one and less of another. Diamonds are, of course, much more valuable than gravel.
Our Take: We aren’t surprised it’s what they do – at the urging of Senator Wielechowski who has had this explained to him too many times to count -but continues to mislead the public.
LNG Edge Q1 2018 Trade Flow Report
ICIS, May 2018
China continued to surprise the market in the first quarter 2018, with a dramatic 65% year-on-year increase in imports as the country switched heating systems from coal to gas to improve air quality. The rate of increase accelerated from the previous quarter, but this is unlikely to be maintained during summer. The country has relatively low storage capacity so will have to rely more on importing at time-of-need rather than building up stocks in summer for the winter ahead.
Our Take: The LNG Edge: Q1 2018 Trade Flow Report draws on the latest voyage data from market-intelligence platform LNG Edge to analyze imports and exports in the global LNG market, bringing you market insights ahead of full data publication from customs authorities.