China Heralds Another Major Oil Discovery

China’s state-run China Petrochemical Group, Sinopec, says it has discovered a massive oilfield in the Tarim Basin, containing 1.7 billion tons of oil reserves.

The discovery is the result of exploration in the Shunbei oil and gas field, said to be one of the deepest commercial fields in the world, in the country’s Xinjiang region.

China Heralds Another Major Oil Discovery

Related:

*Xinjiang*

Chinese Oil Giants Sinopec And PetroChina To Delist From NYSE

The Energy Industry in Xinjiang, China: Potential, Problems, and Solutions

How oil has shaped Xinjiang

Vast oil deposits discovered in Xinjiang

I’m sure Halliburton would love to get their hands on that oil! Oh wait, that was Iraq!

Democrats Hope To Gotcha The GOP With Doomed New Net Neutrality Bill

As we’ve long noted, the Trump era attack on net neutrality was one of the more grotesque examples of regulatory capture and corruption in Internet policy history.

The rules, which imposed some very modest restrictions on giant telecom monopolies to prevent them from abusing market power, were very popular among consumers of all political stripes. And the Trump FCC’s repeal involved using a lot of outright lies and even fake and dead people to reduce the oversight of extremely unpopular telecom monopolies.

Despite the Democrats controlling the FCC for more than a year and a half, they still haven’t done anything about it.

Democrats Hope To Gotcha The GOP With Doomed New Net Neutrality Bill

Meet the Ex-CIA Agents Deciding Facebook’s Content Policy + Social Media Is a Tool of the CIA

It is an uncomfortable job for anyone trying to draw the line between “harmful content and protecting freedom of speech. It’s a balance”, Aaron says. In this official Facebook video, Aaron identifies himself as the manager of “the team that writes the rules for Facebook”, determining “what is acceptable and what is not.” Thus, he and his team effectively decide what content the platform’s 2.9 billion active users see and what they don’t see.

Meet the Ex-CIA Agents Deciding Facebook’s Content Policy

Related:

[2011] Social Media Is a Tool of the CIA. Seriously.

Google is already helping the government write, and rewrite, history. Here, from its transparency report, are some stats on the amount of information it has either given to the government or wiped from the web based on requests by U.S. agencies:

US Government requests to remove content from Google Transparency Report

Military Could Keep Shipwreck Info From Public If New Amendment Passes

As members of the House of Representatives debate the details of their latest draft of the National Defense Authorization Act (NDAA), one possible addition came seemingly out of left field, or maybe 20,000 leagues. It could change the public’s access to information about military ships and aircraft that have sunk. The amendment, put forward by Rep. Austin Scott, a Georgia Republican, is said to have been motivated by unlawful salvaging operations that occur at these sites.

Military Could Keep Shipwreck Info From Public If New Amendment Passes

Biden just signed a law to lower shipping costs. Will it work?

The Ocean Shipping Reform Act allows for more enforcement of rising fees. But shippers say the law isn’t a “silver bullet.”

President Joe Biden signed the Ocean Shipping Reform Act of 2022 into law on Thursday, promising sweeping changes to the ocean shipping industry after more than two years of port congestion, delays and rising costs.

Biden just signed a law to lower shipping costs. Will it work?

Short-staffed and underfunded.

Domestic Crude Oil Peaked at $145 a Barrel in 2008. It Closed Yesterday at $118.50. So Why Is Gas at the Pump at All-Time Highs?

Domestic Crude Oil Peaked at $145 a Barrel in 2008. It Closed Yesterday at $118.50. So Why Is Gas at the Pump at All-Time Highs?

Part of that, as the above stories illustrate, is just plain ole price gouging. But the big picture is more complicated than that. According to the EIA, in addition to the 61 percent of the price of a gallon of gas that comes from the cost of crude oil, the other 39 percent shakes out as follows: the costs of refinement (14 percent), distribution and marketing (11 percent), and taxes (14 percent).

And refining* looks to be a particular problem right now. The EIA reports that as of January 1, 1982, the U.S. had 301 refineries in operation. That compares to just 129 in operation as of January 1, 2021.

Related:

*Chevron CEO says there may never be another oil refinery built in the U.S.

Previously:

More Oil From U.S. Strategic Petroleum Reserve Heads To Europe