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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: John Carragher who wrote (200027)	11/20/2019 4:07:07 PM
From: Elroy Jetson	Respond to of 206085

Exxon has certainly lost a lot on Russian oil and gas ventures due to the current US sanctions against US companies operating in Russia. It's always risky doing business in a country your home nation doesn't have close relations with. It's more economic and politically safe for China to get piped natural gas from Kazakhstan, Uzbekistan and Russia. LNG is an inexpensive fuel in places where natural gas is not available by pipeline, like Portugal. It's the same situation as Europe where LNG costs double what piped gas from Russia does. Italy has gas pipelines bringing in supply from Africa. No one is going to be able to 'negotiate' China or Europe into paying double the price.