Sunday, January 28, 2007

Precious Commodity Fluids


Last night I switched to a Japanese TV station since it was in the clear. They charge for the station as a rule, but they also open it up for anyone to see when the news is on. I have no idea why I enjoy watching it since I don't speak Japanese, but I guess I sometimes hope to see footage of Godzilla (or, more properly, Gojira) rampaging through Tokyo or something. Anyway, as I watched an avuncular man use an old-fashioned wooden pointer to note special sections of Japan and their upcoming weather while an obedient young woman stood by and semi-bowed on occasion during his presentation, I distracted myself by reading the "crawl" on the bottom of the screen which was, strangely, in English. A story that caught my eye stated that Russia was determined to increase its oil production and become the world's largest petroleum exporter, passing even the mighty Saudi Arabia. I remembered from my youth how the United States and Russia were the two largest oil producers in the world, but with all the issues facing the former Soviet Union, I had long since lost interest in them as an oil producing nation. I was more intrigued by their infamous mafia and the infighting between the now-free republics. But after reading this I tried a bit of Googling here and there and now find myself more confused than ever. Some stories say that Russia is already the largest oil producer in the world. Some make the distinction that they produce more but do not export the same amount as Saudi Arabia. Some talk about refined oil vs. crude. Some talk about all energy products (which includes natural gas, etc.). In sum, the statistics are confusing given the report. I don't recall the story as I read it, but I think Davos was mentioned in there as well. So, what we have here is a typical news story: long on hype and short on facts.

What are the ramifications of Russia becoming the world's largest oil producer/exporter? Does this speak more of Russia's desire to make hard currency or to Saudi Arabia's inability/unwillingness to raise its own production? Can they, in fact raise production? How does this tie in to Peak Oil? Was Russia's vast holdings taken into account by Dr. Hubbert? What are the geopolitical implications? Will this, yet again, stall us from doing what needs to be done: making it a national priority to get off of petroleum? Will Russia sell to our competitors? If this story is true, why did I only see it on a crawl screen on a Japanese news program? Why do I care? What is a "commodity fluid gap?" Why are you still reading this?

8 Comments:

Blogger Theo_musher said...

I think there is lots of oil in the world left. I think so called "peak oil" is an early controlled peak being orchestrated by the PTB.

January 28, 2007 10:23 PM  
Blogger Marcy said...

Hey Frank,

Do you know what happened to casemeau? I can't access his blog. It appears to have been deleted.

January 29, 2007 3:10 AM  
Blogger Frank Black said...

Marcy:

No! I was just there yesterday, too.
I hope everything is alright. If you hear anything let me know.

January 29, 2007 6:52 AM  
Blogger Theo_musher said...

He appears to have deleted his entire blog. I deleted a blog before and that is the message that came up

January 30, 2007 11:14 AM  
Anonymous Anonymous said...

didn't he delete his blog before....like the first few months of it, anyhow?

January 30, 2007 12:05 PM  
Blogger comrade simba said...

Russia has enough oil producing capacity to keep her friends supplied. Who are Russia's buddies? Not us. Cold War part two hehehe.
Russia may be in the best position possible to do what it wants with its resources - they are not really playing the open market game. Contract sales to buyers of their own choosing - how capitalistic!

It's a good laugh except for the fact that they will be growing their oil based economy as ours collapses, and have a few years in the sun until the piper plays Moscow. Just long enough for the peasants do ditch their single speed industrial grade heirloom washing machine for an Ipod. Awful thing, that progress...

re:casemeau - wasn't his last few posts about scoring a hot date? Maybe he was doing some creative editing and deleted it on accident! Happened to me once, but I was all excited about compost or something...

January 31, 2007 9:39 PM  
Anonymous Anonymous said...

casemeau is alright. just decided to give up blogging. that's who he is, tries something for a while, then is on to the next thing. probably hooked up with some woman he'll drop as soon as he tires of her then he'll probably be living in a mansion in beverly hills next. take it from someone who knows him. he's on to the next fix. blogging wasn't working anymore.

February 11, 2007 9:41 PM  
Blogger Theo_musher said...

Are you his ex-wife?

February 13, 2007 8:36 AM  

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