Hoarding is exactly what the government is doing right now by filling the SPR, and frankly it's the best thing that could happen. It drives prices up. High prices encourage demand destruction. They also finance new well development. The hoarded oil gives us a buffer to fall back on once shortages become more prevalent. High prices are what we need in order to adapt to what's coming, and the sooner they happen, the better.
Joined: Mar 04, 2005 Posts: 2504 Location: New Zealand
Posted: Thu Apr 24, 2008 7:49 pm Post subject: Russia's gas giant eyes US market
Russia's gas giant eyes US market
Quote:
Russia's state-controlled natural gas giant aims to become a significant supplier in the United States, expanding beyond the European market that it already dominates, the head of the company's export arm said Wednesday.
OAO Gazprom is, at the same time, undertaking billions of dollars in investments to bring new fields into operation while its old fields approach the end of their usefulness.
Some of the new fields, including the vast Shtokman field under the Arctic Sea, would put large parts of their production into liquefied natural gas, which could be sent to the United States, Gazprom Export head Alexander Medvedev told reporters.
"We consider the United States, and the North American market in general, one of the most promising in view of the growing demand for natural gas as well as the situation with local production," he said.
IHT _________________ Human history becomes more and more a race between education and catastrophe. H. G. Wells.
Fatih Birol's motto: leave oil before it leaves us.
Joined: Jun 13, 2007 Posts: 3016 Location: Minniesotuh
Posted: Thu Apr 24, 2008 8:09 pm Post subject: Re: Russia's gas giant eyes US market
HHhmmm... So, could they be thinking that if they offer the gas to the US, the US won't make a stink about them taking the gas fields? _________________ "RRrrruuuunnnn!!!" ~Apocalypto
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