July 02, 2008

People are shocked when Russians act like, well, Russians

So, BP is having problems with it's oligarch partners in it's oil venture, TNK - BP. How shocking... especially when you consider that the synonym for 'Russian Billionaire' is 'Gangster'.

Lookit, Russia is not a politically stable country. Period. The only thing that's kept things from going off the rails there is an increase in natural resource prices (like oil) which has fattened the national treasury and, of course, Putin the Strongman, with whom Russians more readily identify. With a drop in oil prices, watch as things get bad. Real fast.

These people have been lied to all their lives and they are STILL being lied to. For example, did you know that the Soviets were DECADES ahead of the US in high powered chemical lasers for defense applications? Neither did I. Because it's bullshit. However, it doesn't stop the Russian press from trying to build up the collective Russian ego.

Now, Gazprom, the state-owned natural gas company, is projecting $250/bbl for oil. Their future depends on it. The sad part? It's not going to happen anytime soon. What happens when that doesn't materialize? A return to the chaos of the Yeltsin years?

Posted by mcblogger at July 2, 2008 10:38 AM

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Comments

Some players on Wall Street are speculating that the oil sector could dive and take the rest of the economy into a free-fall. They're self-serving pricks who will get out before the dump, if such an event happens, but they might have a point.

What happens to the teacher retirement's hedge funds or for that matter, commodity investments if that occurs? If the managers start selling short, will that be the tip off that the bubble is about to burst?

Posted by: Captain Kroc [TypeKey Profile Page] at July 2, 2008 07:19 PM

I think suicide is always a good option for those people. After all, it gets them out of the way so we can fix the problems. Then allow another Perry appointed dumbass come in and fuck it up again.

Posted by: mcblogger [TypeKey Profile Page] at July 2, 2008 09:32 PM

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