Thursday, April 20, 2006

The Oil Giant and Mini Me

Well the Sleeping Giant Gazprom has awoken from its slumber and its Mini Me, Venezuela beats its chest.

The headlines...........................

Gazprom's Miller: Don't Get In Our Way

Gazprom Chief Executive Alexei Miller, possibly irritable after a meeting with EU ambassadors, seemed to issue a threat late on Wednesday: He warned that blocking its plans to expand across the region and politicizing gas supply issues will "not produce good results." Analysts took this to mean that political interference could persuade the company to redirect supplies currently being piped westward into other markets.

"We understand our responsibility, and henceforth will remain the guarantor of energy security for the European consumers," Miller added. But he also noted that the state-controlled gas monopoly may soon have bigger fish to fry, as it investigates new markets such as North America and China and competition for energy resources grows.

Chavez issues warning to U.S.

Thu, April 20, 2006


Venezuelan President Hugo Chavez yesterday warned his government would blow up its own oilfields if the United States ever were to attack -- the latest in a series of warnings to Washington.

U.S. officials have repeatedly denied any military plans against Chavez, but also have called him a threat to stability in the region. Speaking with other South American leaders, Chavez said his conflict with the U.S. is rooted in Washington's thirst for oil. If the U.S. were to attack, Chavez said: "We'll do like the Iraqis. We won't have any other alternative -- blow up our own oilfields, but they aren't going to take that oil." He added that "the real reason for the open conflict . . . is energy."

Russia will close the "oil spicket," on Europe and look at exporting more oil and gas to North America while Chavez will blow his country's oil production infrastructure to smithereens.

Mr. Putin must be secretly wishing Chavez will keep his promise.

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