I love this ….same data to completely different media stories….FYI…IMO the latter is more accurate
Li Lu’s Four Basic Principles of Value Investing
Li Lu is undoubtedly one of the most under-appreciated investors. The founder and Chairman of Himalaya Capital Management established his firm in 1997 based on the principles laid out by Benjamin Graham. Lu is a close friend of Charlie Munger and was once thought to be in-line to succeed Warren Buffett as the chief investment Read More
Story in April implies lined up supertankers sign of oil ‘Glut’ in China with no place to go. Same situation in May story says the demand is there but the facilities are slow to unload. The issue is not lack of demand, but lack of infrastructure.
Always interesting to see the identical information portrayed in opposite ways.
Wed Apr 13, 2016 3:05pm EDT
Band plays on, as global oil glut leaves supertankers in a huge jam
‘Teapot’ Refineries Shore Up China’s Demand for Crude
In April privately-owned refiners imported 1.2 million barrels of oil a day, around 15% of China’s total crude imports http://www.wsj.com/articles/teapot-refineries-shore-up-chinas-demand-for-crude-1464616123
In a bid to increase competition in China’s oil market, Beijing has begun granting teapots licenses and a quota to import crude oil. Photo: AGENCE FRANCE-PRESSE/GETTY IMAGES
By Jenny W. Hsu
May 30, 2016 9:48 a.m. ET