Russia sees huge arctic oil fields under the sea.

Alik · Nov 7, 2014

daiquiri said: ↑

Amen to this.
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But the fact is: people die every day. Two days ago Ukrainian troops shelled school in Donetsk, killing 2 boys, 4 severely injured. Today few civilians killed again. Where is 'civilized' world? The West would rather impose sanctions on Russia which has taken 700,000+ (officially! UNO report) refugees from that area. Have western countries taken any? None!

daiquiri · Nov 7, 2014

Alik said: ↑

The West would rather impose sanctions on Russia which has taken 700,000+ (officially! UNO report) refugees from that area. Have western countries taken any? None!
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I know this is true and I know very well how hypocritical western governments are, because your story is just a deja-vu for me.

dinoa · Nov 7, 2014

The recent evolution of Russia's economy has suffered from "Dutch-disease", while Norway is the best example of handling oil revenue to the long term benefit of its economy. Falling oil prices may have a greater effect on Russia's intentions than sanctions.

Dino

ImaginaryNumber · Nov 7, 2014

dinoa said: ↑

The recent evolution of Russia's economy has suffered from "Dutch-disease", while Norway is the best example of handling oil revenue to the long term benefit of its economy. Falling oil prices may have a greater effect on Russia's intentions than sanctions.

Dino
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Recession in Russia, revolt in Venezuela? The knock-on effects of tumbling oil prices | The Guardian

Russia
Western sanctions against Russia over the Ukraine crisis have yet to cause significant changes in Moscow’s economic or foreign policy. But plummeting oil prices will strike a significant blow to Russia’s economy and could send it into a recession, analysts said...

The falling oil price has dragged down Russia’s currency. The Russian Central Bank has spent almost $7bn this month propping up the rouble, which nonetheless reached a record low on Wednesday, hitting 41 roubles to the dollar for the first time.

In response, the finance ministry announced it will sell off foreign currency reserves to the tune of several billion dollars over the next month in an attempt to soften the shock to the economy. Russian oil companies’ share prices also sank on Wednesday, with state oil champion Rosneft dropping by 1.2% after Bank of America cut its rating to neutral from buy. The Moscow stock exchange fell by 0.9%...

Iran
Iran’s economy, which depends on oil for most of its exports revenue, has faced huge economic problems in recent years due to international sanctions imposed over Tehran’s nuclear programme.

A EU and US oil embargo, strict banking restrictions and trade bans have among the major measures designed to punish Tehran for its failure to comply with international demands over its nuclear activities. Falling oil prices will just add to economic woes in a country with the world’s fourth largest oil reserves...

Iranian officials have pointed the finger at Saudi Arabia, saying it has deliberately kept prices low by manipulating Opec sales.

Iran’s oil minister, Bijan Zanganeh, has explicitly blamed Riyadh for the situation. “Some of the biggest producers at Opec should reduce their sales,” he said, in what was widely viewed as a criticism of Saudi Arabia...

Saudi Arabia
Falling oil prices have forced Saudi Arabia to act to preserve its position in world markets – but unlike other big producers it can use its huge cash reserves as a cushion against a temporary fall in revenues.

Saudi officials have been signalling that they are prepared to see prices sink to as low as $80 per barrel at least for a year or two – well below the IMF estimate of the country needing a price of $91 to balance its budget.

Analysts suggest one motive of Opec’s largest producer may be to make US shale oil unprofitable and force a US production cut at a time when the world market seems to be facing years of oversupply.

The Saudis are masters of opacity so their motives are unclear but the conclusion of most experts is that they are taking a long-term view designed to retain their market share in years to come...

Venezuela
Even at $100 a barrel, Venezuela was eating into its currency reserves. Experts believe that $80 oil will deepen a fiscal crisis that is already threatening social unrest...

“For a government that is reluctant to adjust and has the worst set of economic policies, this decline in (foreign exchange) income will bring higher inflation, more scarcity and lower purchasing power to the Venezuelans.”

Francisco Monaldi, of the Belfer Center, said if prices remained depressed for more than a year Venezuela would suffer more than other Opec countries...

Analysis: winners, losers and political uncertainty
There have been four major recessions in the West since the mid-1970s and each has followed a spike in the oil price. All downturns have their own peculiarities, but one common thread links the stagflation of the seventies to the mega-crash of 2009: dearer crude. The opposite also applies. A low oil price was a vital ingredient in the post-war Golden Age, and a falling oil price lubricated the strong and sustained growth of the 1990s. Logically, therefore, the 25% decline in the cost of crude since June should mean higher levels of activity.

For that to happen, however, the oil price will have to fall a lot further, to somewhere around $50 a barrel. At $115 a barrel the price was consistent with rip-roaring levels of demand...
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Alik · Nov 7, 2014

Nice graph, though it does no show shale oil break-even prices... in US

Alik · Nov 7, 2014

For those who wants to know the truth on what is happening in Ukraine, here is the link:
https://twitter.com/GrahamWP_UK
British journalist working in Novorossiya. Not the CNN crap.

jarmo.hakkinen · Nov 10, 2014

ImaginaryNumber said: ↑

Everything I have seen leads me to think that Putin's only concern is to enrich himself and his cronies. To do that Russia wishes to keep a choke-hold on Europe by being a major supplier of oil and gas. He also will do what it takes to stifle any challenge to his leadership and whip up unwarranted nationalistic fervor in the populace -- who are otherwise getting a pretty raw deal.

Putin’s Friend Profits in Purge of Schoolbooks | New York Times
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Is that the same as having placed the You-know-whose son (who was kicked out of Navy becouse of drugs) to Ukraines top energy company?

Alik · Nov 11, 2014

jarmo.hakkinen said: ↑

Is that the same as having placed the You-know-whose son (who was kicked out of Navy becouse of drugs) to Ukraines top energy company?
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Jarmo, the West does not want to see it. As well as they do not want to see whom the West is supporting in Ukraine. The video shows a lot of photos of open Nazi hired by the new Ukrainian government as 'law enforcement' soldiers. In any civilized county those will not be allowed to wear special force uniform and been awarded with medals by ministers and president. And these photos are only small part of the iceberg. People in Ukraine are now terrified throughout the country; those thugs are allowed to kill anyone and the regular police will just walk away. Those Nazi regiments are now located in every city in Center, East and South, excerpt those controlled by the rebels. The civilians have to take arms and/or rely on Russia for protection...

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Russia sees huge arctic oil fields under the sea.

Alik Senior Member

daiquiri Engineering and Design

dinoa Senior Member

ImaginaryNumber Imaginary Member

Alik Senior Member

Alik Senior Member

jarmo.hakkinen Junior Member

Alik Senior Member

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