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Fill up and weep

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General interest discussions, not necessarily related to depletion.

Fill up and weep

Unread postby Wildwell » Thu 06 Oct 2005, 11:13:08

Every time you fill your car, you are making Russians and Arabs richer. Russia has already played its energy card.

The Russian media has been making much of the country's increasing role as a provider of energy to Europe, arguing that its growing dependence on Russian oil and natural gas has put Moscow in a strong diplomatic position.

On television and in the press, Russians are being told that President Vladimir Putin's current visit to the UK comes at a time when the world energy crisis is giving Moscow new-found political muscle.

A commentator in the mass-circulation Moskovskiy Komsomolets writes that "usually, at all recent Western forums, Russia has been forced to listen to sharp criticism".

But now, he argues, the Europeans are falling over themselves to praise Russia.

"The reason for the sudden sweetness of the Europeans is very down to earth. According to experts, the world is moving slowly but surely into a global energy crisis."

http://news.bbc.co.uk/2/hi/europe/4311340.stm

Every time you fill up you are using a store of energy that took billions of years to create. That fill up was once 1 km squared of ancient forest and is destroying forests today.

http://www.ran.org/info_center/factsheets/s09.html
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Re: Fill up and weep

Unread postby whereagles » Thu 06 Oct 2005, 14:33:16

What's the problem of them getting richer? The money comes back to the US/Europe in form of foregin investment.

Especially true for Saudi Arabia: why would they invest the big bucks in a desert land? Most of their oil cash flows back to the US.. :roll: It's a closed loop, with oil basically coming in for FREE. The arabs finance the companies that give you a job whose cash you use to buy gas :-D
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Re: Fill up and weep

Unread postby Wildwell » Thu 06 Oct 2005, 14:35:41

I'm thinking from the Terrorism/Political angle. I have no problem making people rich at face value. Be interesting to see what happens to the Petro Euro as well.

Interestingly the Neo cons seem to have 'got it'.

The alliance of hawks and environmentalists is new but not entirely surprising. The environmentalists are worried about global warming and air pollution. But Woolsey and Gaffney—both members of the Project for the New American Century, which began advocating military action against Saddam Hussein back in 1998—are going green for geopolitical reasons, not environmental ones. They seek to reduce the flow of American dollars to oil-rich Islamic theocracies, Saudi Arabia in particular. Petrodollars have made Saudi Arabia too rich a source of terrorist funding and Islamic radicals. Last month, Gaffney told a conference in Washington that America has become dependent on oil that is imported from countries that, "by and large, are hostile to us." This fact, he said, makes reducing oil imports "a national security imperative."

http://slate.msn.com/id/2112608/
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Re: Fill up and weep

Unread postby aahala » Thu 06 Oct 2005, 15:14:55

Maybe what we need in the US is to have a smiling face of Osama at
every gas pump.
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Re: Fill up and weep

Unread postby cube » Thu 06 Oct 2005, 20:33:31

$this->bbcode_second_pass_quote('whereagles', 'W')hat's the problem of them getting richer? The money comes back to the US/Europe in form of foregin investment.
.........
BINGO! There's actually a lot of people out there that don't know this. :wink:

However this time is different. Back in the 70's when oil spiked almost all the oil profits went back to the US in some shape way or form thru the purchase of investments denominated in US dollars. But now after 9/11. The Arabs are spooked (rightfully so)...(I would be too). They're afraid that the US might hijack their investments so they are much more hesitant to purchse US securities. I hear Saudi Arabia plans on paying off some of their debts, which they racked up a huge amount during the 80's when oil went rock bottom.

Good for them. It is always wise to pay off debts when the money is coming in. But of course that means the money isn't comming back to the US, so I can imagine the neo-cons must be livid.
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Re: Fill up and weep

Unread postby DesertBear2 » Fri 07 Oct 2005, 02:16:53

$this->bbcode_second_pass_quote('whereagles', 'W')hat's the problem of them getting richer? The money comes back to the US/Europe in form of foregin investment.

Especially true for Saudi Arabia: why would they invest the big bucks in a desert land? Most of their oil cash flows back to the US.. :roll: It's a closed loop, with oil basically coming in for FREE. The arabs finance the companies that give you a job whose cash you use to buy gas :-D


It's coming back to the US now and keeping our white hot Real Estate market bulging bigger and bigger by keeping rates low.

Other than that, I don't see the return cash going into any sort of economic activity or asset that will pay returns on the long term ie manufacturing capacity. Just more retail and suburban development that must be paid for by overburdened consumers.

And some day, the return flows will not return. Especially as the energy producing nations in central Asian become more comfortable with investing in China.
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Re: Fill up and weep

Unread postby BabyPeanut » Fri 07 Oct 2005, 08:55:15

moved from "Current events" since it's not a current event.
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Re: Fill up and weep

Unread postby PenultimateManStanding » Fri 07 Oct 2005, 09:17:57

I get my gas from Arco which is owned by BP which means that every time I fill up my tank, some of my money is going to - ENGLAND! :? :x :shock: Maybe we should put a picture of Harry Potter on the gas pump.
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