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Putin says Russia should act to influence oil prices
Story of AFP ^ | 11 Nov. 2008 | Story of AFP

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 ...


TOPICS: Foreign Affairs; News/Current Events
KEYWORDS: energy; oil; russiatodriveoil
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ANd, so it starts!
1 posted on 11/11/2008 2:56:42 AM PST by WellyP
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To: WellyP

Maybe Vlad should just charge $125/barrel for his oil & see how far that gets him.


2 posted on 11/11/2008 3:00:44 AM PST by Renkluaf
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To: WellyP

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.....


3 posted on 11/11/2008 3:02:29 AM PST by freebilly
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To: WellyP

Putin has not noticed the world economy falling into collapse, apparently.


4 posted on 11/11/2008 3:04:01 AM PST by Glenn (Free Venezuela!)
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To: Glenn

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 mermakova@bloomberg.net.

Last Updated: November 9, 2008 12:13 EST


5 posted on 11/11/2008 3:24:21 AM PST by WellyP
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To: WellyP

Maybe they’ll bomb Iran? :p


6 posted on 11/11/2008 3:28:29 AM PST by ovrtaxt (Only a coalition of Marxists and Islamists can destroy the United States. ~ Carlos the Jackal)
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To: WellyP
I think this is code for "We are going to invade Poland".

That will certainly raise oil prices.

7 posted on 11/11/2008 3:29:33 AM PST by chilepepper (The map is not the territory -- Alfred Korzybski)
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To: WellyP

Send your newest submarine....no, wait!


8 posted on 11/11/2008 3:34:23 AM PST by Thrownatbirth (.....Iraq Invasion fan since '91.)
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To: WellyP

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.


9 posted on 11/11/2008 3:40:13 AM PST by Leisler (Obama is going to give us all Unicorns!)
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To: chilepepper

How did Georgia work for them?


10 posted on 11/11/2008 3:41:06 AM PST by Leisler (Obama is going to give us all Unicorns!)
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To: WellyP
Let's Americanize this headline:

Obama says America we should act to influence oil prices

No offshore drilling
No new onshore drilling
No nukes
No coal
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.

11 posted on 11/11/2008 3:41:52 AM PST by RU88 (The false messiah can not change water into wine any more than he can get unity from diversity.)
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To: WellyP

For a start, NEVER BUY GAS HERE!!

12 posted on 11/11/2008 3:43:31 AM PST by Fresh Wind (Hey, Obama! Where's my check?)
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To: Glenn

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.


13 posted on 11/11/2008 4:35:55 AM PST by rudman
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To: RU88
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. I don't think it is as bad as you are saying. These types of comments are meant to make Bush look bad - and don't do republicans any service.
14 posted on 11/11/2008 4:35:55 AM PST by rudman
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To: WellyP

Oil 60.35 -2.06 -3.30 http://www.bloomberg.com/index.html?Intro=intro3


15 posted on 11/11/2008 4:55:34 AM PST by WellyP
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To: WellyP
"And so it starts"

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.

16 posted on 11/11/2008 5:03:37 AM PST by VaBthang4 ("He Who Watches Over Israel Will Neither Slumber Nor Sleep")
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To: VaBthang4
There is NOTHING he can do about it.

There's a LOT he can do about it. Oil prices are set on perceived supply and a whole lot of speculation.

All Russia has to do is to cause unrest in oil producing/supplying areas to spike prices.

Remember when Ukraine was contemplating closer ties to the West? He shut off gas supplies heading into that region. Result? Ukraine's government collapsed and called for new elections.

All Putin has to do is cause trouble in the Middle East. Rattle some sabres. Maybe slap Georgia around again (it has the only oil pipeline heading into Europe NOT originating from Russia). If speculators think that supply is in danger, the price goes up. Simple as that.

Believe me, there is a lot he CAN do.
17 posted on 11/11/2008 5:21:23 AM PST by MDspinboyredux
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To: WellyP

Oil 59.66 -2.75 -4.41 7:20 EST http://www.bloomberg.com/index.html?Intro=intro3


18 posted on 11/11/2008 5:22:19 AM PST by WellyP
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To: MDspinboyredux

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.

http://seekingalpha.com/article/96131-putin-s-policies-drive-foreign-investment-from-russia

While U.S. financial turmoil has seeped into virtually every global market, Russia has been devastated, as the country’s 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 didn’t oust directly.


19 posted on 11/11/2008 5:39:34 AM PST by WellyP
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To: rudman
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. I don't think it is as bad as you are saying. These types of comments are meant to make Bush look bad - and don't do republicans any service.

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.

20 posted on 11/11/2008 5:41:26 AM PST by RU88 (The false messiah can not change water into wine any more than he can get unity from diversity.)
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