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Originally posted by Nerdling
Yeah, but that would put Putin in the camp against OPEC, and i really cannot see that happening anytime soon, where theres money to be made theres putin holding his hand out.
One likely reason is that Russia has never delivered on any of its previous pledges since 1999 to curb production in line with OPEC. Last year, Russia increased oil output by 5.9 percent to take advantage of rising prices that resulted from OPEC cuts, despite its promises to the oil cartel.
Russia has had a habit of cheering from the sidelines while OPEC members struggle to keep prices high. As an observer within OPEC, Russia can only benefit from its decisions without being bound by them.
While OPEC members have reduced their production quotas, they have essentially made room in the world market for Russia to raise its output since last year. Russia's current average production of over 6.5 million barrels per day would make it second only to Saudi Arabia, if it were a member of the cartel.
Originally posted by kukla
There has been a stream of interesting stories coming out of Russia and some interesting coincidences. In what appeared to appease critics and pre-empt the elections, Putin arrested the President of the largest oligarch in Russia, Yukos. It is now obvious that Putin has taken aim at the Cabal. Here�s a rough outline of that latest events.
8/? Khodorkovsky meets Buffet and Cheney while attending Sun Valley power meeting.
www.larouchepub.com...
9/16 Bush Sr. meets with Putin.
newsfromrussia.com...
10/21 Bush Sr. unexpectedly retires from the Carlyle Group
www.independent-media.tv...
10/25 Yukos President Khodorkovsky arrested
www.boston.com...
11/10 Paramilitary raid Soros Institute in Moscow after Soros makes statements regarding Yukos
www.themoscowtimes.com...
11/10 Khodorkovsky linked to Carlyle group.
www.washingtonpost.com...
11/10 Major Yukos shareholder stripped of Senate seat, will face charges
www.moscowtimes.ru...
How far will Putin go? How badly will Russian markets suffer? Why did Bush Sr. retire from the Carlyle Group?
Originally posted by kukla
Thanks ECK....Russia controls enough reserves to do as it pleases and without the blessing of OPEC. Russia certainly wants OPEC to consider the euro, more pressing right now is the control of oil. I think Putin would like to see Yukos become nationalized.