How Russia Is About to Dramatically Change the World
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How Russia Is About to Dramatically Change the World
January 5, 2010 | From theTrumpet.com
In a remote corner of the world, a port bristles with cranes, smokestacks, mammoth ships—and trouble for Europe.
ROBERT MORLEY
Over the next few days, Russia will change the world. It has completed a new oil pipeline and port complex that sets Russia up to become a more powerful oil exporter than Saudi Arabia. The ramifications for Europe and Asia are profound: The shape of the global economy—and the global balance of power—will be altered forever.
December 28 was a big day of ceremony in Russia. Prime Minister Vladimir Putin pushed a button that transformed global oil dynamics—especially for Asia and Europe. The button released thousands of barrels of Siberian crude into a waiting Russian supertanker and heralded the opening of Russia’s first modern Pacific-based oil export facilities.
The multibillion-dollar, state-of-the-art oil terminal was a “great New Year present for Russia,” Putin said during the inauguration. The strategic terminal, located in the city of Kozmino on the coast of the Sea of Japan, is one of the “biggest projects in contemporary Russia” he said, not only in “modern Russia,” but “the former Soviet Union too.”
Putin has every right to be enthusiastic about his new port. Kozmino will unlock a two-way gate through which Russia’s vast Siberian oilfields will gush into Asia’s energy-hungry economies—and Chinese, Korean and Japanese currency will flow into Russia.
If just the seven ships currently waiting to berth are all filled during January, the port of Kozmino will instantly become Russia’s third-most important oil outlet.
According to Reuters, the first oil transport loads on January 15. In a symbolic move highlighting Russia’s warming relationship with China, Hong Kong will receive the first shipment.
After that, Kozmino’s importance will exponentially grow over the next year. Currently, all Siberian oil shipments into Kozmino are delivered by train—but that will soon change. Phase one of the East Siberian-Pacific Ocean Pipeline (espo) was also completed during December. Phase two will soon connect the Siberian fields directly to the new port. When phase two is finished in 2014, total exports could jump from the current rate of 250,000 barrels per day to over 1 million. Kozmino will transform into one of the largest oil centers in the world—capable of handling 14 percent of total Russian oil exports. It will be one of the most strategic geopolitical assets in Russia’s arsenal.
Russia pumped more than 10 million barrels of oil per day during November. With Saudi Arabian production falling, Russia is now the world’s largest oil exporter. Toss in Russia’s natural gas exports, and Russia is the biggest energy superpower in the world, by far. That does not even count Russia’s massive uranium resources and nuclear expertise.
Will we see a surge in oil prices or do you think this will create more of a demand?
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Higher prices - a new monopoly is on the world state, and that's why they
invaded Georgia, to shut down THEIR pipeline, which would have circumvented Russia.
Meanwhile, the leftists won't let US drill for our OWN oil, but they gave a giant hunk of money
to Brazil to help with THEIR offshore drilling.
This Obamao admin is the worst thing that could have happened to us, at the worst? possible time, methinks.
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confused. wouldn't more oil on the market lower prices?
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Yes, in a free market.
But the Soviets have friends in Venzuela, etc, and
it could very well end up a monopoly on oil, which
countries don't have much of a choice on having to purchase.
IOW, I think it would be supply/no competition -induced inflation.
I don't see the Soviets pouring oil into the markets at a low price,
and encurring the wrath of Middle Eastern countries, Chavez, etc, Brazil........
I could have that backwards, but still think we MUST develop our own oil resources,
and stop it from being a manipulated special-interest political tool, like most things have become.
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confused. wouldn't more oil on the market lower prices?
confused. wouldn't more oil on the market lower prices?
My mistake, yes it would. but we need to take in to account china's growing demand fo oil also.
Isn't oil a countries new found gold? at least for the last century and many wars have been started over it.
Why is it Obamma pulled out the missles from poland? lack of balls? or is he trying to befriend a bunch of thieves?
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A lot of people forget most of our oil imports come from Canada, plus they have 149 years reserve life. Canada exported 2.30 million barrels per day to the U.S. or 21.7% of U.S. imports. Saudi Arabia has a 72 year reserve life and 14.5%. Mexico 12.7% and Nigeria 10.9%.
And yes Russia is pumping out some major oil right now, but only have 17 years of reserve life left. I'm not worried.
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Now that's some nice info, there, K !
Thenk Yew !
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