Exploring Hydrocarbon Depletion
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efarmer wrote:You don't nationalize the corporate oil players Plant, the government sets price limits to neuter speculation and the private oil companies then decide if they wish to drill and produce at the set pricing or not. The government will have to boost the price to where it makes it possible for drillers to pursue the hard to get at oil, but the market speculator will be frozen out of the deal unless they wish to operate in a narrow and low profit little window...
As part of the energy sector reform, in April 2010, then acting president (now president) Goodluck Jonathan signed the Nigerian Content Development Bill (NCD) into law. The bill is aimed at increasing the role of Nigerian companies in all aspects of the oil and gas industry.
http://www.eia.doe.gov/emeu/cabs/Venezuela/Oil.htmlAlong with the Carabobo bid round, Venezuela has also embarked upon direct, bilateral deals for the development of some oil blocks. In December 2009, PdVSA and China’s CNOOC announced a memorandum of understanding (MOU) for the development of the Boyaca 3 block. The Junin area of the Orinoco has also been the subject of numerous bilateral deals, including with Petrovietnam (Junin 2), China’s CNPC (Junin 4), Italy’s Eni (Junin 5), a consortium of Russia companies (Junin 6). All of these plans are in the early stages of development, and it is unclear when oil production could begin from these areas.
http://www.eia.doe.gov/emeu/cabs/Angola/Background.htmlIn recent years, China has agreed to provide multi-billion dollar oil-backed loans to fund infrastructure development. These loans are costly and repayment depends heavily on international oil prices but at the same time, Chinese firms are playing an important role in Angolan recovery while Angola has become one of the leading suppliers of oil to China.
http://www.eia.doe.gov/emeu/cabs/Colombia/Oil.htmlColombia has seen an increase in oil production in recent years following a period of steady decline. The Colombian government has enacted a series of regulatory reforms to make the sector more attractive to foreign investors. In addition, it has implemented a partial privatization of state oil company Ecopetrol in an attempt to revive its upstream oil industry.
Since 2009, Ecuador has agreed to two separate oil-backed loan agreements with China. Under these agreements, Ecuador is required to invest a share of the loaned amount in infrastructure projects involving Chinese companies and repay the loans in fixed-price crude oil shipments. In 2009, Chinese oil imports from Ecuador totaled 36,000 bbl/d, 12 percent of Ecuador’s total oil exports, an increase from the previous year’s 21,000 bbl/d.
The largest foreign-owned oil companies include Andes Petroleum, a consortium led by the Chinese National Petroleum Corporation (CNPC) and Petroriental of China.
At present, China obtains most of its imported oil from Saudi Arabia, Iran, Angola, Oman, Sudan, Kuwait, Russia, Kazakhstan, Libya, and Venezuela. Eager to ensure the reliability of the oil flow from these countries, Beijing has established close ties with their leaders, in some cases providing them with significant economic and military assistance. This is exactly the path once taken by Washington -- and with some of the same countries.
China’s state-controlled energy firms have also forged “strategic partnerships” with counterpart enterprises in these countries and in some cases acquired the right to develop major oil deposits as well. Especially striking has been the way Beijing has sought to undercut U.S. influence in Saudi Arabia and with other crucial Persian Gulf oil producers. In 2009, China imported more Saudi oil than the U.S. for the first time, a geopolitical shift of great significance, given the history of U.S.-Saudi relations. Although not competing with Washington when it comes to military aid, Beijing has been dispatching its top leaders to woo Riyadh, promising to support Saudi aspirations without employing the human rights or pro-democracy rhetoric usually associated with American foreign policy.
Likewise, China’s recent loan of $20 billion to the Venezuelan oil industry has boosted the status of President Hugo Chávez at a time when his domestic popularity, and so his ability to counter U.S. policies, was slipping. The Chinese have also retained friendly ties with President Omar Hassan Ahmad al-Bashir of Sudan, despite U.S. efforts to paint him as an international pariah because of his alleged role in overseeing the massacres in Darfur.
To gain control over this rapid feedback loop, we need to nationalize the fossil fuel industry and bring its assets, and its resources, under social control.
The fossil fuel industry presents a clear and present danger to national security, to world security, to human civilization, and to life on earth. It even presents a clear and present danger to the lives of owners of the fossil fuel industry! As Bob Dylan once said, "For them that think death's honesty won't fall up on them naturally, life sometimes must get lonely."
Pops wrote:I expect more of this:The fossil fuel industry presents a clear and present danger to national security, to world security, to human civilization, and to life on earth.
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