Putin: Why Not Price Oil in Euros?

moscow times ^ | Oct. 10, 2003 | Catherine Belton

[SAJ]

Can't add, eh?

Any given politico-economic philosophy carries with it consequences, and these consequences are cumulative over time. When I used the phrase ''all costs paid'', it meant ''ALL costs paid'', economic, social, and political, not, simplistically, just the cost of converting these folks' body mass into crackable hydrocarbons.

Would you deny, just offhand, that there is and always has been a surplus of those who would confiscate, either arbitrarily or under colour of ''law'', the property of their fellow citizens?

Idiocy, is it? The idiocy is that folks such as you have let these slime proceed as far as they have done.

[SoDak]

I agree. The way I see it, the only reason we continue to rely so heavily on oil is because it's been so dang cheap. Just think of all the great things that could happen with a replacement fuel source. Taking money out of the middle-east for starters. No money, no more buwets, or certainly not nearly as many.

[JerseyHighlander]

SAJ, you just admitted on a widely read forum that you had no moral qualms over SaddamHussein's wood chipper executions, only a political disagreement over thedetails of who was the executioner and whom the executed. Bully! Don't talk to me again...

I've opined earlier when this story first broke, Russia will own wide swathes of Western Europe if(when) the Euro's valuation stumbles. Russia will continue supplying petro in Euro denominations, but as collection, such as Quaddafi has done in Zimbabwe and Russia has done to Belarus, the terms of payment will include control of the petro purchasing nations' oil industries' vertical assets. Gas stations, distribution facilities, and storage facilities. The enemic Euro countries will slower barter away their energy independence if Russia moves to Euros and builds more pipeline capacity to Poland/Germany and where ever the Caspian production pipeline is ever built.

Which should be noted, because the Eurolands will have inextricably tied themselves to the Caspian and 'Stans. Which is better discussed by experts at Jane's or other publications I can't afford.

If Russia moves to Eurosfor petro contracts, the UK can't enter the Euro, the North Sea income will be crushed if(when) the Euro sinks.

If not mistaken, a few Euro countries have percentage taxes on percentage taxes for petro? Lowering petro at the pump means lower revenues for them, which is crazy, but long been a part of life over there.

[SAJ]

OK, next time I won't omit this part:

''Paging Doctor Swift...Jonathan Swift to the white courtesy telephone, please.''

When you get a moment, read over Swift's ''A Modest Proposal''; it's very short. Clearly and unfortunately, my technique is not in his league and needs some work. And, I lost a fast $50 betting a friend that the similarity wouldn't be lost on FReepers, too. Rats!