Isn't getting crude oil there in the first place the issue? Or am I missing something?
3
Shoddy-Fan-5843 days ago
+9
This latest conflict fundamentally changed the oil market in many ways.
After the current spat ends, stakeholders are already thinking about ways in which to protect themselves against a similar crisis in the future.
So this isn't a solution to the current crisis but rather a necessary long-term plan to mitigate the risks associated with the Strait in the future.
9
haloweenek3 days ago
+3
Lol, ok how are they planning to fill those tanks now ?
3
imlostintransition3 days ago
+9
The news does seem puzzling, but if I understand correctly, this is long-term planning. I think the idea is to provide a buffer against future disruption of the Hormuz Strait.
9
roguebadger7622 days ago
+1
They've already secured deals with saudi, kazakhstan, oman and uae for roughly 300M barrels that are unaffected by the strait
1
Blunt_Hadder3 days ago
-20
What’s North Korea waiting for?
-20
jews4beer3 days ago
+18
I'm sorry but are you suggesting NK should attack SK?
*Checks account, 5 days old, nothing but whataboutisms and "wEsT BaD!"*
18
ScoobyDosandDonts3 days ago
+5
North Korea is busy sending their best to die for Russia.
5
Plastic-Ad-24963 days ago
-8
Sounds like S Korea could use some freedom.
-8
bistro7773 days ago
+2
S Korea has empty oil reserve tanks, not oil fool.
2
Plastic-Ad-24962 days ago
-2
And what goes in empty oil reserve tanks genius?
-2
Plastic-Ad-24962 days ago
+3
The dumb part is you couldnt connect the second dot.
3
bistro7772 days ago
+2
You really can't connect the dots can you? S Korea can store 146 million barrels of oil. Iraq's oil reserves has 145 billion barrels. You can't differ between man-made storage of oil and oil reserves underground? They differ in magnitudes. One is useful to alleviate temporary shortfall in oil. The other is worth going to war for (according to some people).
13 Comments