<nettime> The Oil Thickens...

[Are Flagan <areflagan@transcodex.net>]

A little news on networkng; Putin now, again, rattles the Euro sabel.
Economically speaking, it's certainly a weapon in the WMD category, only,
one could speculate, far less elusive. Chavez would probably not be
particularly opposed, considering the backers of his wannabe assassins, and
Iran would most likely welcome a sizable reduction in the US war chest. And
Saudi Arabia, with trillions (one in WS and an estimated second trillion in
other financial institutions) of _dollars_ sunk into the US economy? Well,
they're now talking with LUKOil and buying more Airbuses. Princes visit
Moscow. So, if the EU becomes a higher, and more stable, bidder, and Bush
then, no doubt, nervously starts barking about the 28 pages of the 911
report that he never released, things could potentially get much nastier.
Points for trying to slow the Beowulf behemoth are anyways awarded.

-af

+ + + + +  

http://www.moscowtimes.ru/stories/2003/10/10/001.html

Putin: Why Not Price Oil in Euros?
By Catherine Belton
Staff Writer 

President Vladimir Putin said Thursday Russia could switch its trade in oil
from dollars to euros, a move that could have far-reaching repercussions for
the global balance of power -- potentially hurting the U.S. dollar and
economy and providing a massive boost to the euro zone.

"We do not rule out that it is possible. That would be interesting for our
European partners," Putin said at a joint news conference with German
Chancellor Gerhard Schroeder in the Urals town of Yekaterinburg, where the
two leaders conducted two-day talks.

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