Posted on 09/11/2011 8:13:42 PM PDT by shove_it
In what can only be described in the most astounding of terms, the Kremlin is reporting that the world’s largest corporation, American-based Exxon Mobil, has signed a deal with Russia allowing it to flee the United States in exchange for trading its vast oil and gas reserves in Texas and the Gulf of Mexico and gaining for itself exclusive drilling rights in the vast untapped regions of the Russian Arctic.
According to these reports, Prime Minister Putin and Exxon Mobil Chairman, President and CEO Rex Tillerson oversaw the signing of this historic agreement brokered by Russian state-owned oil giant Rosneft.
Putin glowingly stated that by Russia gaining unlimited access to American oil and gas reserves in Texas and the Gulf of Mexico “new horizons” were opened, while Exxon Mobil spokesman Alan Jeffers told the BBC: “[The Russian Arctic] is among the most promising and least explored regions for oil, that is why we are very interested.”
[...]
(Excerpt) Read more at pakalertpress.com ...
This was forwarded to me via email today from someone who ought to know.
Comments???
You hear anything about this?
It looks like a scam to me. Markets open tomorrow and someone is trying to make a play.
Does not pass the smell test.
And that is saying a lot considering the “resident” at 1600 Penn. Ave.
Exxon/Rosneft deal closes another door to BP - Reuters - Aug 31, 2011
Exxon Mobil signs Russian oil pact - The Washington Post - Aug 30, 2011
In return, Rosneft will get a chance to take part in Exxon's operations in the Gulf of Mexico and Texas. The two companies said they also will pursue joint ventures in third countries.
MOSCOW — Exxon Mobil won a coveted prize in the global petroleum industry Tuesday with an agreement to explore for oil in a Russian portion of the Arctic Ocean that is being opened for drilling even as Alaskan waters remain mostly off limits.
...
Where BP had planned to swap stock, Exxon, which is based in Texas, agreed to give Rosneft assets elsewhere in the world, including some that Exxon owns in the deepwater zones of the Gulf of Mexico and on land in Texas.
In announcing the arrangement at a surprise signing in the Russian resort town of Sochi, Prime Minister Vladimir V. Putin described a sweeping global alliance — and a potentially vast investment by Exxon in the Russian Arctic.
. . .
The Rosneft deal would also be among the most significant attempts by a company from a country that is not an American ally to acquire United States oil fields since Cnooc, the large Chinese oil company, tried to buy the California oil company Unocal. Although it was not formally banned, that deal fell apart in 2005 after members of Congress criticized the potential Chinese ownership of American oil assets.
I attended a meeting at XOM last week re a joint venture we are involved with - this story is accurate. For Tillerson to do something like this in Russia, it means that XOM has structured it to eliminate risk. They are not interested in risk. They are interested in long term ownership of large resources of oil and natural gas. By the way, XOM also bodyslammed BP to take over the arctic assets involved with Rosneft. Of course the Russians like to beat up BP too, just like their marxist friend in the Whtie House.
“To Exxon Mobil’s greatest fear in fleeing the US for Russia, these reports continue, is Obama’s planned nationalization of all oil and gas industries in the United States said planned for the middle of 2012 when unprecedented chaos is expected to hit America as their economy nears total collapse.”
Sounds good to me. Gotta protect your investments before Holder Ok’s martial Law.
Well isn’t that special.
Tinfoil.
Not even very good quality tinfoil.
It’s a misleading headline. The headline in the linked NYT story is far more accurate.
The agreement seemed to supersede a similar but failed deal that Russia’s state oil company, Rosneft, reached with the British oil giant BP this year — with a few striking differences.
Where BP had planned to swap stock, Exxon, which is based in Texas, agreed to give Rosneft assets elsewhere in the world, including some that Exxon owns in the deepwater zones of the Gulf of Mexico and on land in Texas.
In announcing the arrangement at a surprise signing in the Russian resort town of Sochi, Prime Minister Vladimir V. Putin described a sweeping global alliance — and a potentially vast investment by Exxon in the Russian Arctic.
“The scale of the investment is very large,” Mr. Putin said. “It’s scary to utter such huge figures.”
But while Russian news agencies said Mr. Putin had stated the potential investments by both companies to be as high as $500 billion, Exxon officials said the figures, at least initially, would more likely be in the tens of billions of dollars.
I would think this would have to be approved by some US dept - a big IF.
NYT. Now that’s a reliable source if there ever was one.
Let’s see....GE to China, Exxon to Russia, Boeing to Japan, ......
Who gets Lockheed?
Anybody think this isn’t the kind of American economic and industrial collapse Obama has always hoped for?
What did YOU think he meant by “Hope and Change”?
Tin foil. But if not, we always have the EPA to stop them .... right?
I assume that the Federal government retains ultimate minerals and natural resource rights on all land in the U.S (with very special exceptions).
If not explicitly then they do so implicitly through the power to legislate drilling/mining enterprises.
“the Russians like to beat up BP too, just like their marxist friend in the Whtie House”
I’m under the impression they only like to beat up BP for theater, while behind the scenes they each trade favors.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.