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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: kingfisher who wrote (43314)	5/2/2005 7:44:15 PM
From: gregor_us	Read Replies (2) of 206319

Russia Has Entered the Hoarding-National Treasure Phase of Oil Production. It didn't take long. All that was needed was the formation of an efficient company like Yukos, to demonstrate how quickly Reserves could be pumped out of the ground, and sold abroad. Putin put a stop to that. And the people like him for it. Meanwhile, yet another Great Awakening has spread across the Oil Producing Countries. They are now just as important as Saudi Arabia once was, in effecting upward pressure on oil prices. News of Nigeria Strikes, Venezuela Tough Talk, or Declining Russian oil production all carry weight--in the crude futures pit. We won't be seeing an upward trend in Russian Oil Production for a long, long time. Maybe never. It's impossible that Putin (and the Russian people) have not figured out they get a Nice Rockin' Two-Fer by holding back production: they hoard more of their treasure, and, they put price pressure upward, on what they sell. For the last several years, Russia of course had led the upward production of non OPEC oil producers. That's over now. LP

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