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December 27, 2006

Comments

dan tdaxp

Well, yes, as I guess it was interesting to watch Saudia Arab transform itself from a state to an energy distribution system, or the Confederacy attempt to transform itself form a state to a cotton-distribution system, or...

To the extent your point is that countries attempt to export goods & services to maximize their security and wealth, yes of course. To the extent this is something new under the sun, of course not.

John Robb

LOL. Dan, you must lead a very boring life.

J

dan tdaxp

A non-substantive reply from John? Yes, that is boring (rather repetitive, in fact).

Tangurena

Dan, not all oil producing countries are interested in owning/controlling distribution and refining outside of their national borders. Russia appears to be taking the lead with trying to gain control/ownership of the production, refining and distribution of oil/natural gas outside of Russia. I'd keep an eye on Gazprom. And I think the fall of Yukos had a lot to do with the willingness of Yukos to leave control of Russian resources outside Russia as well as their rise during the Yeltsin era.

Sample of production control grabs:
http://news.bbc.co.uk/2/hi/business/6201401.stm

Sample of trying to gain control of distribution:
http://news.bbc.co.uk/2/hi/europe/6220953.stm

Of the other national oil companies, only Venezuela and Saudi Arabia own significant oil refining/distribution networks in the US (or even outside their countries). Citgo in the case of Venezuela. Texaco (50% owned by Aramco) and Motiva (joint venture with Aramco and Shell) in the case of Saudi.

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