Skip to comments.Putin says Russia should act to influence oil prices
Posted on 11/11/2008 2:56:42 AM PST by WellyP
"We need to work out a whole range of measures that will allow us to actively influence the market," he said in comments broadcast on television after a government meeting on oil production.
(Excerpt) Read more at petroleumworld.com ...
Maybe Vlad should just charge $125/barrel for his oil & see how far that gets him.
The other shoes is just about to drop. Well, can’t say I blame the b@stards for wanting to make a buck. Russian crude has fallen so much that it’s pointless for them to sell it. Good for us, though.....
Putin has not noticed the world economy falling into collapse, apparently.
Russia is on the edge and the oligarks are getting restless!
Russian Oligarch teams up with Gorbachev to form new political party: http://russiatrek.net/blog/2008/10/06/russian-oligarch-teams-up-with-gorbachev-to-form-new-political-party/
Transneft Says Russian Oil Exports Fell 25%, Interfax Reports
By Maria Ermakova
Nov. 9 (Bloomberg) — Russian oil exports have dropped 25 percent below ``normal’’ levels, OAO Transneft Chief Executive Officer Nikolai Tokarev told reporters today, according to Interfax.
The reductions are ``temporary,’’ Tokarev said, according to the report. ``The companies have contracts and obligations to their foreign partners, and they will fulfill them.’’
Russia cut its crude export duty by 23 percent to $287.30 a metric ton from Nov. 1, according to a government order published in the official Rossiyskaya Gazeta newspaper on Nov. 5.
Transneft is Russia’s state oil pipeline operator.
Mikhail Barkov, spokesman for Transneft, and Marina Dracheva, spokeswoman for TNK-BP, BP Plc’s Russian oil venture, declined to provide an immediate comment on the report. Vladimir Semakov, spokesman for OAO Lukoil, Russia’s largest non-state oil producer, couldn’t be reached.
To contact the reporter on this story: Maria Ermakova in Moscow at firstname.lastname@example.org.
Last Updated: November 9, 2008 12:13 EST
Maybe they’ll bomb Iran? :p
That will certainly raise oil prices.
Send your newest submarine....no, wait!
Oil is just one source of energy. Anything he does to try,with others, to ‘corner’ the market on oil, will just drive business to coal, gas, conservation, nuclear.
He and others, can not much, for long, go above these other energy sources.
How did Georgia work for them?
Obama says America we should act to influence oil prices
No offshore drilling
No new onshore drilling
No liquefied natural gas
Complete and utter dependence on foreign sources of crude
Windmills, solar panels and Kandy Kanes for everyone!
From what I see, these decreased crude prices are one of the only things that have kept the “average joe” from going over the brink right now. Watch out if these prices suddenly shot up.
For a start, NEVER BUY GAS HERE!!
Putin has noticed. He is using the obama way to help stimulate the economy - by raising the price of things, suddenly everyone will be prosperous.
Oil 60.35 -2.06 -3.30 http://www.bloomberg.com/index.html?Intro=intro3
No, it doesnt.
Nothing here but a control-freak commie grasping at a solution to the problem that he and is buddies are losing cash hand over fist as oil prices drop.
There is NOTHING he can do about it.
Oil 59.66 -2.75 -4.41 7:20 EST http://www.bloomberg.com/index.html?Intro=intro3
The problem with that is, Russia badly needs inward investment in it’s oil fields as their production is declining. Foreign investment in Russia has tanked since Pootie’s little Georgian experiment! Below is a very well written article on the issue.
While U.S. financial turmoil has seeped into virtually every global market, Russia has been devastated, as the countrys largest stock exchanges, the MICEX and RTS, have suffered their biggest losses since the 1998 financial crisis. However, Moscow only has itself to blame after heavy-handed economic, political, and military tactics scared away the foreign investments it didnt oust directly.
This was in no way a critique of the Bush administrations policies. What I am referring to is this: I live in the Northeast and have oil heating my home. In the middle of this summer my heating oil price was “capped” at $4.60 a gallon. If oil had stayed at close to $150 a barrel I'd be paying about $700 a month to heat my home and put gas in my car. I'm middle class and live on one income, my own. Zero credit card bills, no car payment. Combine this with a mortgage payment and it would swallow up most of my income each month. I suspect that a lot of other people are in the same boat. $700 a month for heat and gas is a big nut to crush for a lot of people.
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