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Flot, Matt! Let's put in some conspiratorial rumours!
See, we have reports of Anglo-American "bullshit" to increase oil prices to "slow down" China's growth or at least prevent China from moving into the "Automotive age" - which has implications of making China's per capita income to grow from US$1,500 (pure agriculture, assembly of consumeable/durable economy) to US$5,000 (with Automotive economy + urbanization made possible by the activities of the autombile!)|
See, what the British and American machinations have done so far:-
(1) They declare "reductions" in proven reserves. (That's like changing accounting rules) but it does not change the actual oil available. That initially "hit" their share market prices.
(2) They then "bloated up" American and Chinese consumption figure - creating "Visions" of multiple increase in oil consumption.
In actual effect, American oil consumption would have fallen due to rising prices. (eg. i used to use only my 2.0 Liter Sonata car and consume 350 litre a month - now i use my 660cc Kancil 2 days a week, and consume 300 litre a month!)
Yesterday China Daily reported China imported equivalent of 2.7 mbd in first half of 2005, while just PetroChina alone can domestically produce 2.2 mbd, not considering the other 2 major oil companies in China. ie. China is not having that much impact on world oil consumption compared to Japan, Korea, Taiwan, European Union and United States.
(3) As more and more nation continued to increase effort in economizing petroleum usage with the sudden rise in oil prices, the "Thunder Horse" platform to produce 240,000bpd was not needed.....
So, my conspiratorial idea is (ta dah - drum roll!!!!!)
(a) Bp-Exxon "allowed" the "obsolete"-ization of the "Thunder Horse" platform in Gulf of Mexico!!!! This will allow it to "collect" INSURANCE PAYMENTS instead of having "too much" capacity which America cannot use!!!!!!
GCC-Arab oil is probably more profitable to do then "Shale oil", "Deep Sea", "pumping depleting/low pressure oil wells"!!!!!
It is business afterall! THAT PROBABLY EXPLAINS why BP share price rose on that news!!!!
(b) This could be a reciprocal move by Britain to "warn" America of British "power" should there be "proof" of American involvement in the London bombing. This works hand in hand with the BRITISH order for the 10,000 member American Airforce and naval personnel to stay in their base in England!
ha ha ha
fun isn't it! the great game!
Lord of the code.