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Russia has world''s largest oil, natural gas reserves -- minister

Discussion in 'World Affairs' started by Arzamas 16, Jul 13, 2013.

  1. Arzamas 16

    Arzamas 16 FULL MEMBER

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    KUNA : Russia has world''s largest oil, natural gas reserves -- minister - Power & Materials - 12/07/2013


    :smokin::smokin::smokin:
     
  2. Chinese-Dragon

    Chinese-Dragon PDF THINK TANK: ANALYST

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    That is amazing. Truly amazing.

    The world's largest supply of oil and gas... completely out of any Western control or influence. Fantastic. :cheers:

    Not to mention that China, the world's largest consumer of energy, is connected to Russia by pipeline. :D
     
  3. Argus Panoptes

    Argus Panoptes BANNED

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    Yes, but Russia is worried that falling gas prices in international markets due to shale reserves being exploited in North America are going to cause a serious drop in its revenues.
     
  4. Arzamas 16

    Arzamas 16 FULL MEMBER

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    Shale needs 100 dollars a barrel to profitable enough to extract it, so it kind run against your argument. The era of cheap is over.


    and oil prices seems to keep rising

    Oil prices surge above $106, while gasoline tops $3.50 - Jul. 10, 2013
     
  5. Argus Panoptes

    Argus Panoptes BANNED

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  6. Arzamas 16

    Arzamas 16 FULL MEMBER

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  7. Argus Panoptes

    Argus Panoptes BANNED

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    With USA buying less gas from abroad, the prices in international markets fall due to increased supply relative to demand, i.e. more supplies chasing fewer customers.
     
  8. Arzamas 16

    Arzamas 16 FULL MEMBER

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    we pipelines connecting directly to to our customers, most supplies don't have that, they have to ship them by sea, so we have big advantage.