BIKE: The very mean world of oil

[rcbaker]

http://www.globeandmail.com/servlet/story/RTGAM.20040112.wopec01
12/BNStory/Business/

What this tells us is that rather than sell oil for Euros instead of dollars, 
that OPEC may just prefer to inflate the oil price band to compensate 
for devaluation of the dollar (officially OPEC has pledged to try to keep 
it from $22 to $28/barrel but this was before 25% or so devaluation of 
late).

Bush is busily trashing the dollar by tax cuts for the rich plus deficit 
spending to steal Iranian oil, so it looks like its payback time for the 
deadbeat government that prints our dollars! Too bad if you live there.

And if that weren't enough of a slap in the face, those damn Russkies 
are trying to send the oil through their own pipelines rather than letting 
us handle that. What arrogance! Don't they know we won the cold war?

 -- Roger


Russia upstages U.S. in Caspian oil game
http://www.hindu.com/2004/01/11/stories/2004011102031200.htm
By Vladimir Radyuhin Sunday, Jan 11, 2004

MOSCOW, JAN. 10. Russia has stolen a march on the United States in the race
for control of Caspian oil, winning long-term commitment from Kazakhstan to
use Russian pipelines for exporting its hydrocarbons to Europe. The
Kazakhstan President, Nursultan Nazarbayev, told the visiting Russian
President, Vladimir Putin, that Russia was a "priority transit route for
Kazakh oil."
  
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