The big question troubling the energy market now is why China is stockpiling so much oil.
In problem-solving, the principle of Occam¡¯s razor recommends searching for the simplest explanation. So perhaps the answer is as straightforward as ¡°because it¡¯s cheap.¡± Still, the conspiracy theorist in me says there¡¯s more to it.
China has purchased more than 150 million barrels ¡ª costing about $10 billion at current prices ¡ª above its actual use so far this year. For a country that buys more electric vehicles than anywhere else, that demands dissecting.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.