"Obama May Have Just Dealt A Crushing Blow To Russia's Oil Exploration"

[applegrove]

Obama May Have Just Dealt A Crushing Blow To Russia's Oil Exploration

by Brett LoGiurato at Business Insider

http://www.businessinsider.com/us-sanctions-russian-oil-exploration-2014-9

"SNIP.....................



New U.S. sanctions handed down on Friday are designed to effectively "shut off" Russian oil conglomerates from oil exploration projects, U.S. officials said, in a move aimed squarely at Russia's $425 billion-a-year petroleum industry.

The measures are "designed to effectively shut down this type of oil exploration and production activity by depriving these Russian companies of the goods, technology, and services that they need to do this work," a senior Obama administration official said Friday.

The official added the intention of the new sanctions was to ensure that "we have effectively shut off the capacity" of Russian oil companies to draw on U.S. expertise for deepwater, Arctic offshore, and/or shale oil exploration projects. The official stressed this was an important step because Russia's companies did not possess the kind of technology needed to undertake the operations.

The new sanctions prohibit U.S. companies from exporting goods, services, or technology to support five Russian energy companies in exploration or production for Russian deepwater, Arctic offshore, or shale projects that have the potential to produce oil. The U.S. Treasury Department said companies have until Sept. 26 to wind down existing transactions affected by the new sanctions.



......................SNIP"

[Benton D Struckcheon]

1. The hits don't stop there

International Energy Agency notes ‘remarkable’ oil demand growth fall

The world’s appetite for crude oil slowed at a “remarkable” pace during the second quarter because of weak economic growth in Europe and China, prompting the International Energy Agency to revise lower its demand forecasts for 2014 and 2015.

I've been thinking for a while that Putin pulled the invasion to distract from this. Bad times would have been coming to Russia regardless.

[applegrove]

2. I think it is a number of things. Including that the USA will have the F35 in a few years

and will have air superiority of Russia then. An F35 can pick out an opposing jet 10 times further than current ones can. So it would be game over for Putin if any war breaks out when the F35 is available to the USA. He will be less intimidating. If Putin wants more land, or be belligerent, or more influence, he has to do it now.

[Sherman A1]

4. I wouldn't count on the F35

For much of anything beyond draining the US budget.

[A Simple Game]

8. Yup. n/t

[ballyhoo]

10. Lol. You got it!

[kardonb]

9. F 35

we have them now ! They are training new pilots at Luke AFB in AZ . They are a bit louder than the F 16s we already had for a while .

[gordianot]

11. The flying pig?

Some analyst have it inferior to the current generation of both Russian and Chinese fighter aircraft.

[BlindTiresias]

12. F35?

Lol, it is not a good aircraft.

[Wellstone ruled]

3. Looking more like a head fake.

JPMorgan Chase have some 300-500 million tied up in Russian Oil exploration. Exon-Mobile has rigs drilling and crews set to start on other proven reserves. Got a feeling this is just another nothing here to see just move along. Why are American firms developing Oil Reserves in the Russian Zone of the Arctic. Smells to high hell. Another press release or hand out to the over worked reporters? If you want to really whack Russia,open the SPOR. That alone will drop the spot price of crude to 40 bucks or less.

[Dont call me Shirley]

6. Could this possibly be a power struggle for dominance between Exxon and chevron?

[elehhhhna]

7. Halliburton is registered in Dubai

just saying

[arikara]

5. Of course.

Isn't oil what its always about?

[freshwest]

13. Well, the USA does have the technology. Our social model revolves around it.