Saturday, January 12, 2008


Western press hysterical as US sinks

Russia has been taking a beating in the western press yet again with half-baked innuendos and wild speculation that has very little basis in fact. The reason for this is becoming crystal clear as America sinks into a quagmire of debt and consumer confidence in the great mouse house reaches an all-time low.
Unemployment, home foreclosures and soaring fuel costs converged to stifle consumer spending in the States in the fourth quarter. The merchants are worried and their bankers are worried. It seems that despite their best efforts, Americans are learning to save, or perhaps they are being forced to.
Across the Pacific, Russia is booming and so the US lackey media unleash their dogs on Moscow. Gazprom looks at Nigeria for gas, the west trembles, they told us last week. Quite why the west should tremble was not clear as Russia has been a reliable supplier of European gas that was hijacked by the US-backed Ukraine for its own political ends. The fact that Kiev was actually pirating the gas sent to Europe seems to have escaped most western journalists. Oh me, oh my, now Gazprom looks to capitalise on its strengths and instead of any of the blacksuits suggesting it might be because it's one of the most successful companies in the world under its present leadership, it is slated.
Now Gazprom ОАО Газпром, the biggest extractor of natural gas in the world, looks to Ireland for fresh markets, standing poised to gain 15 percent of the booming little country's commercial sector. The US can't have that and once again raise the spectre of cut gas supplies and speculation of dominance through gas control.
Last June, GM&T received a licence from the Irish government to operate in its gas market, most of which is controlled by state gas supplier Bord Gais, with which it would have to compete for market prices.
Gazprom has been an interesting company to watch as it emerged as a global player.
With the acquisition of Sibneft, Gazprom secured oil fields with 133 billion barrels in reserve, which means it only ranks behind (the whole of) Saudi Arabia and also the whole of Iran in oil production.
With a market capitalisation expected to have reached US$1 trillion in 2007, Gazprom is in fact the world's largest corporation.
During the Yeltsin years the bandits like Berezhofsky tried to capitalise on their control of the company that was since plagued by other scandals. It was President Vladimir Putin who cracked down on management and forced it to get its house in order.
It did and now the company owns media and banking along with a whole host of other subsidiaries. The only thing holding it back is its decision not to directly sell shares to foreigners, although we have been promised that this will happen soon.
While Ireland, with a population of 4 million, is small potatoes for Gazprom, it is an extension of the company's expansion plans in Britain.
Gazprom has previously said it wants to take its share of the British market to 10 per cent, or 10 billion cubic metres (bcm) per year, up from the current 4 bcm.
Western analysts are saying Ireland's location at the far end of the European gas supply network from Russia makes it most vulnerable should Gazprom halt supplies. Russian analysts are saying... Russia wants to halt gas supplies as much as Saudi Arabia want to stop selling oil.
So Tsarval, what it going on with Russia banning the Britich Council offices then?

june bug said: Anonymous - who doesn't have the brains to think up a nickname for himself..
This is quite scary, everywhere you turn there is Gazprom.
Uh huh!
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