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Russia's oil boom may be running on empty
McClatchy Newspapers ^
| Sunday, Aug 24, 2008
| TOM LASSETER
Posted on 08/24/2008 12:49:11 PM PDT by Ernest_at_the_Beach
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To: Ernest_at_the_Beach
If Pelosi wants to save the planet, perhaps she should leave it
21
posted on
08/24/2008 1:46:23 PM PDT
by
G8 Diplomat
(The thing about politics is it's never so bad that it can't get worse)
To: FlingWingFlyer
I smell another Jackson Browne lawsuit.It took me a minute.
Well done.
22
posted on
08/24/2008 1:48:07 PM PDT
by
Glenn
(Free Venezuela!)
To: SAJ
That wont fly for a second. Frances Total and Schlumberger will fill that void in a NY city taxicab minute. Not to mention assorted state-owned oil companies and tech and support firms.
Total and Schlumberger don't like developing assets and then having them expropriated any more than BP or Shell. State-owned oil companies can be tossed out too.
Anyone that does business with Russia under the present management is a fool.
23
posted on
08/24/2008 1:48:57 PM PDT
by
Cheburashka
(Democratic Underground: Ever wonder where all those who took the brown acid at Woodstock wound up?)
To: Ernest_at_the_Beach
The Russians are spending their new oil wealth like drunken sailors, I also understand the political elite, headed by Putin, has stashed and continues to stash billions in oil revenue in Swiss banks, as opposed to re-investing in their economy. When the wells slow down or the price of oil drops to $60 - $70 a barrel the Russians will be left with no new infrastructure desperately needed to further develop their macro economy. In other words, they’re screwing themselves.
24
posted on
08/24/2008 1:48:57 PM PDT
by
moose2004
(Drill, Drill, Drill, Drill, Drill, Drill And Then Drill Some More)
To: Glenn
25
posted on
08/24/2008 1:51:25 PM PDT
by
FlingWingFlyer
(A History and Science Minute.- "Climate change" has been going on for millions of years!)
To: SAJ
At first any technology embargo will be be at best an inconvenience. Baker Hughes and friends will scream bloody murder and as you say, Schlumberger will just ignore it.
Last time it took two or three years to make an impact on chip and software exports to the east. Then Ron and Yasu sat down and worked something out. After that the Koreans and Singapore fell in line. This may be a simpler program to implement as there are far fewer countries and far fewer companies producing really advanced oil recovery technology that Russia will need. Despite the historic confluence of interest it's possible that M. Sarkosi may be amenable to a deal. It will cost us but it may be possible to work something out.
All of this would have to be worked out as part of G7 strategy (yes, G7) to economically isolate Russia.
Disclosure, I hold shares of both BHI and SLB.
26
posted on
08/24/2008 1:56:25 PM PDT
by
InABunkerUnderSF
("Gun Control" is not about the guns. "Illegal Immigration" is not about the immigration)
To: Cheburashka
True...mostly. If Russian production declines severely enough, though -- and, btw, the folks in the 'awl bidness' with whom I talk think this article is rather
understated in terms of production losses -- Putin won't have a choice. He will quite literally
have to deal honestly with firms who have the technology Russia has to have.
Starting in about 18 months, as a guess. Total and Schlumberger certainly know which side of the bread is buttered; they're not fools AT ALL.
27
posted on
08/24/2008 1:56:38 PM PDT
by
SAJ
(lid)
To: moose2004
“In other words, theyre screwing themselves.”
Actually, same old story, the Russian elites, cheered on by the Russian people, are screwing Russia up so badly that it falls way behind the rest of the world.
To: InABunkerUnderSF
Baker Hughes' former chief chem engineer (now retired) has been a friend of mine for decades. He's always said that BH were dancing on a volcano dealing with the Sovs and later with the Russians. His exact sentiment was/is:
''With the Russians, if you don't have the whip hand, you don't have any hand.''
Always did like that little aphorism. Very sharp chap.
29
posted on
08/24/2008 2:01:17 PM PDT
by
SAJ
(lid)
To: TigersEye
Maybe thats why theyre making a move to take control of supplies from the Caspian?Maybe?
The same people who own the Anti-Georgian propaganda site "war.georgia.su" (.su, not .ru) also own "armenia.su" and "azerbaijan.su".
Vlad isn't through yet.
30
posted on
08/24/2008 2:05:56 PM PDT
by
InABunkerUnderSF
("Gun Control" is not about the guns. "Illegal Immigration" is not about the immigration)
To: Ernest_at_the_Beach
They need western tech/experience to drill. It costs more to extract in Siberia due to the extreem cold. If it wasn’t for the currently inflated prices, they would be losing money. (anything under 65 is a loss sale)
That is why I suspect the constant claims that the US is about to attack Iran every time the price drops is comming from the FSB...
To: SAJ
If Putin isn’t dealing with the foreign companies that have the expertise honestly right now don’t expect any improvement in the future.
There will always be idiots. They will always advance money and be surprised when they get screwed, even though all their predecessors were screwed in the past.
Look at Cuba. Fidel consistently defaults on every loan made to him. It just a matter of when he will get around to it. The only major country that isn’t holding bad debts is the U.S., and that’s because we have a trade embargo.
If foreign companies want to get screwed, let them. No need for American shareholders to take the hit.
32
posted on
08/24/2008 3:21:12 PM PDT
by
Cheburashka
(Democratic Underground: Ever wonder where all those who took the brown acid at Woodstock wound up?)
To: Ernest_at_the_Beach
There's only one problem with this story: the premise bases itself on the fact Russia won't exploit new oilfields within their own country. There's this place called Siberia where there are potentially HUGE amounts of oil and natural gas undiscovered, but the only reason why they haven't discovered them is the complete lack of any decent ground access to much of Siberia.
To: moose2004
The Russians are being Russians. And old Communists still think and react like old Communists.
34
posted on
08/24/2008 4:18:57 PM PDT
by
arthurus
To: InABunkerUnderSF
I’m not in doubt. But many here seem to be.
35
posted on
08/24/2008 5:50:02 PM PDT
by
TigersEye
(Berlin '36, Moscow '80, Beijing '08 ... Olympic games for murdering regimes.)
To: syriacus; Ernest_at_the_Beach; Dog Gone; Grampa Dave; thackney; BOBTHENAILER
"Political and military ties between Moscow and Baghdad were extensive."And that, of course, is where those elusive weapons of mass destruction were spirited off to (Moscow, by way of Syria) while we telegraphed our moves by screwin around with the UN one last time!!!
Everybody with two brain cells to rub together knows this, but yet, nothing can be proven so far...
36
posted on
08/24/2008 5:57:37 PM PDT
by
SierraWasp
(I'm not against the environment, just GovernMental EnvironMentalism!!! (our new state religion))
To: SierraWasp
And that, of course, is where those elusive weapons of mass destruction were spirited off to (Moscow, by way of Syria) while we telegraphed our moves by screwin around with the UN one last time!!!Interesting!
37
posted on
08/25/2008 4:46:53 AM PDT
by
syriacus
(Barry schmoozed with developers while his constituents bailed sewage out of their sinks.)
To: Ernest_at_the_Beach
"Any truth to this report?"
The things presented here are certainly not new. Unless I was to read about new fields being put on line that show a high potential for long time oil extraction I would have to side with this article.
38
posted on
08/25/2008 9:46:55 AM PDT
by
Marine_Uncle
(Duncan Hunter was our best choice...Now we are left with a bunch of idiots.)
To: Ernest_at_the_Beach; AdmSmith; Berosus; Convert from ECUSA; dervish; Fred Nerks; george76; ...
39
posted on
08/25/2008 4:25:43 PM PDT
by
SunkenCiv
(https://secure.freerepublic.com/donate/_______Profile hasn't been updated since Friday, May 30, 2008)
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