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What this exercise illustrates, for me, is to what extent the former Soviet Union is still a geopolitical unit and the fact that I had more or less stopped thinking of it as one.

When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done. — John M. Keynes
by Migeru (migeru at eurotrib dot com) on Tue May 27th, 2008 at 04:53:07 AM EST
Washington hadn't ;)
by afew (afew(a in a circle)eurotrib_dot_com) on Tue May 27th, 2008 at 04:58:41 AM EST
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Maybe the fact that the Bush administration was full of oilmen and old cold warriors wasn't such a bad thing after all. Still, their neoconnery bungled the execution to a large extent.

When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done. — John M. Keynes
by Migeru (migeru at eurotrib dot com) on Tue May 27th, 2008 at 05:04:04 AM EST
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In fact, they have too terms: the "near abroad", and the "foreign."

In the long run, we're all dead. John Maynard Keynes
by Jerome a Paris (etg@eurotrib.com) on Tue May 27th, 2008 at 10:13:13 AM EST
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They are the proverbial stopped clock.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Thu May 29th, 2008 at 03:36:20 PM EST
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What comes to me with the most surprise is the extent to which China is apparently not faced with major stress.
by afew (afew(a in a circle)eurotrib_dot_com) on Tue May 27th, 2008 at 05:01:44 AM EST
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China's oil consumption is growing by huge numbers each year. It shot up from 3-4mb/d to 7-8mb/d now is less than 10 years, and it's not slowing down. The imports number is doing worse, given that China (something that a lot of people forget, is the fourth producer of oil (after Saudi Arabia, Russia and the US) with around 4mb/d: it has shot from nothing to 4mb/d in the same period, and all the future consumption growth will translate into import growth.

So far, most of China's relelntless energy growth has been provided by coal, but given that it is beginning to lose its self-sufficiency in that fuel as well, future prospects are dire (how much coal can a 1.5 billion ton per year producer can import from a 200 million ton producers, ie Australia?).

Yes, they have cash reserves, but these are mostly in dollars - their value in oil is uncertain, to say the least.

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Tue May 27th, 2008 at 08:15:11 AM EST
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So far, most of China's relelntless energy growth has been provided by coal, but given that it is beginning to lose its self-sufficiency in that fuel as well, future prospects are dire (how much coal can a 1.5 billion ton per year producer can import from a 200 million ton producers, ie Australia?).

More like how much coal can a 3 billion ton consumer import from, say, a billion ton producer like the US.

China's coal situation to me seems to bear at least a slight resemblance to that of the US with oil forty or fifty years ago.

by MarekNYC on Tue May 27th, 2008 at 09:07:34 AM EST
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To what extent can increased extraction tide them over while they implement other energy solutions?
by Colman (colman at eurotrib.com) on Tue May 27th, 2008 at 09:13:42 AM EST
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I'd say to a good extent. Just like increased Gulf production and the mega discoveries of Mexico, Alaska, and the North Sea did for the US - and they seem to have about the same approach...
by MarekNYC on Tue May 27th, 2008 at 09:17:16 AM EST
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I remember that it was already significantly more than the US's roughly 1 billion ton production, but did not remember it was that much bigger already.

That's a lot of carbon dioxide...

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Tue May 27th, 2008 at 10:15:23 AM EST
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And why their air is more visible than breathable.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Thu May 29th, 2008 at 12:50:00 AM EST
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