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Sterling say cash flow will increase by 400% in 2006
dogdays - Fri, 23 Dec 05 :
Hi All
Interesting that first I read this.....
That's what former CIA Director Robert Gates said about the imminent nightmare economy his team of analysts foresaw at this recent series of oil strategy exercises, caused by just three minor disturbances in the already overtaxed world oil flow...
What are these "disturbances," you're asking? A trio of very likely events plotted by a team of former oil industry executives and government officials - including Rand Beers, the White House counter terrorism expert who resigned in 2003 to protest the Iraq war. They are:
1. Ethnic unrest in Nigeria (12th in world oil production, 11th in reserves) causes a slowdown in that African nation's petroleum industry.
2. Al Qaeda attacks an oil terminal in Valdez, Alaska, and a natural gas facility in the Middle East. (Think this can't happen? It already has - see below)
3. The stepped-up aggression from terrorists spurs a mass exodus of skilled Western petroleum industry workers from Saudi Arabia.
Then two days later this.......
Energy giant Royal Dutch Shell has said that unknown assailants attacked its
pipeline near the main oil city Port Harcourt that resulted in a major spill and
fire, and slashed production by about seven pct of Nigeria's total crude export.
World oil prices had closed lower yesterday after US reserves of natural gas
fell by less than expected during a recent cold snap, traders said.
Prices had been up for much of the day as Royal Dutch Shell halted
deliveries in Nigeria after the deadly pipeline explosion in Africa's biggest
oil producer.
"Short-term events like this which are unpredictable can drive a high price
floor for crude prices," said Victor Shum, an analyst with energy consultancy
Purvin and Gertz.
"That is why we are seeing pricing in the high 50's even though the market
is well-supplied" with oil products, he added.
newsdesk@afxnews.com
afp/ec
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