Amvet's Comments

Note to Europe: Watch How China Negotiates Russian Oil Deal

Tue, 20 Oct 2009 10:16:52 -0400

It is tiring to hear the continuous harping about Russian unreliability. The dishonesty in New York and London screwed the world economy and ruined many people and the screwers in the rating agencies and large banks are still living a free, rich life. The US is conducting three wars (Iraq, Afghanistan, and Iran), supporting whatever crimes the Israelis choose to do, and generally act like they run the world. Refocus, Mr. Pirrong.

Why I'm Long Uranium and Nuclear / Power Engineering

Tue, 18 Aug 2009 06:58:23 -0400

Moser, After reading your right-wing political rantings, I have no interest in your equally skewed nuclear opinions. Amvet

U.S. Oil Imports at Risk

Wed, 10 Jun 2009 13:03:17 -0400

You miss a couple of important points. (1)When we supported the military coup against Chavez and painted it as democratic when we thought that it was successful, we shot ourselves in the foot. (2) We are still punishing the Cuban people for revolting against US control. Most Latinos find this brutal bullying of the small by the big loud mouth.

We continue to be popular with the rich far-right thugs in Latin America, but among the majority our past behavior is coming home to haunt us.

Regarding oil prices, there is evidence that global crude production peaked in 2005. As that seeps into the media, the oil futures funds will push the price higher.

Pressing the Saudis to increase production is dumb. During my 5 years in Saudi Arabia, the complaint that I heard most was "Saudi Arabia overproduces our oil and sells it cheap to help the Americans stay rich and the American Government keeps the family in power".

Rick Santelli: The Best Five Minutes in CNBC History

Fri, 20 Feb 2009 09:05:40 -0500

The same media touts who sold the world 8 years of G.W. Bush, two wars based on lies, "Iran threatens to wipe Israel off the map", Russia is an enemy, Israel is defending itself, etc. are still active and not in jail where they should be. Change the name CNBC to "Fraud is Us".

Depressed Oil Prices Approaching Good Point for Speculation

Thu, 19 Feb 2009 10:08:17 -0500

Current price swings in the oil price have nothing to do with supply and demand.

Oil prices are determined by futures contracts and the majority of futures contracts are bought and sold by people and funds who never take delivery of any oil. One US fund recently sold Feb futures for 80 million bbls. Such massive uses of futures jerks the price around. It is indeed a case of the tail wagging the dog.

This dumb system is destroying segments of the oil and gas industry. Small producers with debt are dieing.

Petrobras: Opportunity or Trap?

Fri, 06 Feb 2009 10:05:52 -0500

Max, your major interest seems to be economic dogma. At this point, after the free market idiots have ruined the world economy, stop the preaching about a company being bad because it is government owned. Be thankful that free market Madoff doesn´t control it.

Putin, the Economics Professor

Mon, 02 Feb 2009 12:22:50 -0500

Khodorkovsky was part of the in-group of the Kremlin that stole Russia blind and were supported by the US government and media. The ax fell when Khodorkovsky tried to sell out to a foreign company. Luckily for Russia, Putin is a patriot and that is why Washington and touts hate him.

Oil: What Goes Down Must Go Up?

Tue, 27 Jan 2009 07:25:27 -0500

US Government data says that demand fell 50K bpd in 2008 and predicts an additional fall of 450K bpd in 2009. With a base of 85 million bpd, this decrease is trivial. With a decline rate on producing field production of 5% per year, over 4 million bpd of new production is needed to stay even.

Don´t forget that oil prices are set by speculators and not by oil users, which is a totally stupid system (unless you are a speculator!!).

Gazprom: Feeling the Pain

Thu, 01 Jan 2009 06:58:30 -0500

Eddy says <<>

Edddy, this is total crap. Much of Gazprom´s sales are priced by contracts, not by what the US and Swiss futures traders dictate. The 76% decline in the stock price was caused by panic selling by leveraged funds needing cash to stay alive.

Federal Reserve, What Do You Have to Hide?

Sat, 13 Dec 2008 09:46:08 -0500

Considering the track record of the FED, we can expect them to aid friends and screw the rest of us.

On a related topic, when was our gold in Ft. Knox physically inventoried?

Geithner, a Man Who Doesn't Lose His Cool

Sat, 22 Nov 2008 08:33:00 -0500

Cool, The same gang that got us into the current mess is being hired to correct it. Our future is assured. Amvet

Increase of State-Controlled Resources Threatens U.S. Consumers

Sun, 09 Nov 2008 10:11:09 -0500

Cut the BS. The US government has insulted, threatened, and harrassed Russia and Venezuela for years and so you call them "anti-american". Honest-up and tell the truth. We have caused countries to distrust us. Amvet

Russia Looks Better on Paper Than in Real Life

Mon, 25 Aug 2008 12:59:09 -0400

The propaganda war against Russia by the US and UK press is several years old. The level of dishonesty from the media about the Georgian attack matches the dishonesty shown about the Iraqi WMDs. European leaders are playing the game with various degrees of slavishness. Even Mrs. Merkel avoided discussing who started the war or how many people the Georgians killed and said some thing about not playing the blame game. As usual, the neocons and the media whores are defrauding the public. Prepare to pay up again. Amvet

Let's Get Greedy with Mechel Steel

Sat, 02 Aug 2008 06:22:27 -0400

The risk of investing in Russia is a big press topic. Russia is bad!! What is not a big press topic is that the most damaging business scam of the century happened recently in the good old US of A and the majority of the damage caused by this fraud was outside the USA. America is good, no problem. Same situation with crimes: a few hundred thousand (maybe) dead in the Sudan...big news and a million dead (maybe) in Iraq, not worth mentioning even though the occupying country is legally responsible.

For investing, the important thing is to avoid the BS and worry about what is really going on. These days, that is difficult. Good investing.

Move Over Exxon-Mobil, Here Comes Gazprom

Fri, 01 Aug 2008 15:11:16 -0400

Some important Gazprom news:

Last Friday Gazprom signed two agreements with Turkmenistan in Ashgabat: (1) Gazprom will spend $4 B to $6 B developing NG projects in Turkmenistan. (2) Starting in 2009 Gazprom will buy Turkmenistani NG at a price based on wholesale prices in the Ukraine and the EU. (Low markup - massive vollume.)

Gazprom recently offered to buy all of Azerbaijan´s NG production.

Move Over Exxon-Mobil, Here Comes Gazprom

Thu, 31 Jul 2008 15:18:38 -0400

Muddling investor:

Political risk is not going up, it is going down and oil and gas prices are great, even if they fall 25%. At least the Russians have not labeled billions of dollars of junk as high quality and killed a big segment of the world´s banking system. With the scams coming out of the US you need to talk about American Roulette, not Russian.

Move Over Exxon-Mobil, Here Comes Gazprom

Thu, 31 Jul 2008 11:58:49 -0400

Your comments about Gazprom are late, but the recent crash in the share price may help those who want to own or add. If you are looking for a company that may be on a real upcurve, look at Gazprom Neft which, perhaps, is intended to the oil producing equivalent of Gazprom. I own Gazprom, Gazprom Neft, Lukoil, and Mechel Steel.

The 'Peak Oil' Myth: New Oil Is Plentiful

Sun, 20 Jul 2008 04:57:00 -0400

Peak oil is about oil production, not about estimated oil in stone.

Current production is around 85 million bbls per day. Low end of estimated yearly production decrease per field: 5%. This means that about 4 million bbls per day of new production is needed each year. That means 40 increases of 100,000 bbls per day each.