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Friday, August 29, 2008

Uh-Oh ... From Russia, With Anger

Gee, who woulda thought that if you continually poke a bear with a stick, he gets ticked off ...

Russia May Cut Off Oil Flow to the West
Reports have begun to circulate in Moscow that Russian oil companies are under orders from the Kremlin to prepare for a supply cut to Germany and Poland through the Druzhba (Friendship) pipeline. It is believed that executives from lead-producer LUKoil have been put on weekend alert.
And while some may say that the Bear deserved poking, the Russians probably need our money less than we need their oil and gas.

By the way, on the subject of how and why John McCain's top advisers seem to be cranking up the rhetoric with Russia, Iran, etc. -- they sure do seem to have a deep and burning desire for conflict. Conflicts aren't cheap, especially when you pick fights with major energy suppliers. Just sayin'.

Ah well, on the bright side, the report about Russia cutting off energy supplies was in a British paper. They tend to be more excitable than most. It may be nothing but wind (here's hoping for the best).

XX UPDATE: Turns out things did work out for the best: Russia says will ensure oil to flow to Europe
Check out my new gold and energy blog at MoneyAndMarkets.com