NationStates Jolt Archive

http://www.iht.com/articles/531699.html
New York Mercantile Exchange oil went up to record highs as Yukos said it may need to cut production in days. Not only may one-fifth of a massive oil producer may go off-line, but this will, no doubt, effect prices of wholesail oil. I just wonder where this case goes, as the loss of 2 billion barrels a day is not a pretty mark on world oil prices.

Yukos. Owned by Mikhail Khordokovsky, right. He went to prison for taking $280M from a soil company or something when the money didn't exist.

Yukos. Owned by Mikhail Khordokovsky, right. He went to prison for taking $280M from a soil company or something when the money didn't exist.
Yeah, something like that. I'm beginning to grow increasingly suspicious that Putin wants to control Russia's most profitable industry. This is the last major oil producer that's left with a free market. If Putin closes this market, he'll strike a huge blow to capitalism in general.

bump

So much for the Saudis driving down the price of oil for November--they're pretty much at capacity right now, and even if they can make up for the Yukos shutdown, they can't do anything to alleviate prices in a large way. Wonder if Bush is on the phone to Putin, the man he said "had a good soul."