Gas Exporting Countries Forum – not only Michael Jackson
Posted by Ivo Cerckel on June 27th, 2009
Not only King of pop Michael Jackson passed away this week.
The Guardian, Thursday 25 June 2009
Obituary: Karel Van Miert
Highly influential EU competition commissioner. (1)
As Alan Greenspan, former chairman of the US of A central bank, said more than 45 years ago:
The world of antitrust is reminiscent of Alice’s Wonderland: everything seemingly is, yet apparently isn’t, simultaneously. It is a world in which competition is lauded as the basic axiom and guiding principle, yet “too much” competition is condemned as “cutthroat.” It is a world in which actions designed to limit competition are branded as criminal when taken by businessmen, yet praised as “enlightened” when initiated by the government. It is a world in which the law is so vague that businessmen have no way of knowing whether specific actions will be declared illegal until they hear the judge’s verdict — after the fact. (2)
Hence, the road is now open for Gas OPEC
The Gas Exporting Countries Forum (GECF) will therefore meet in Qatar on Tuesday. (3)
Ivo Cerckel
honestmoney@maktoob.com
NOTES
(1)
Obituary
Karel Van Miert
Highly influential EU competition commissioner
Leo Cendrowicz
The Guardian, Thursday 25 June 2009
http://www.guardian.co.uk/world/2009/jun/25/karel-van-miert-obituary
(2)
ANTITRUST, BY ALAN GREENSPAN, Based on a paper given at the Antitrust Seminar of the National Association of Business Economists, Cleveland, September 25, 1961. Published by Nathaniel Branden Institute, New York, 1962,
reprinted in: Ayn Rand, (ed.) , “Capitalism – the Unknown Ideal”, Signet Books, 1967
http://www.polyconomics.com/ssu/ssu-980612.htm
(3)
Gas meet in Doha to discuss price slide
Publish Date: Friday,26 June, 2009, at 10:39 PM Doha Time
Reuters/Dubai/London
http://www.gulf-times.com/site/topics/article.asp?cu_no=2&item_no=299509&version=1&template_id=48&parent_id=28
SNIPS
The world’s biggest gas powers will discuss an unprecedented slide in global demand and prices when they meet in Qatar on Tuesday but there is little they can do about it – yet, say analysts.
The global economic downturn and its impact on gas consumption will be high on the agenda when ministers from a club of countries holding more than three-quarters of the world’s gas reserves meet on Tuesday in Doha.
“At current prices I don’t know if investment in gas will continue,” said Mohamed Ali Khatibi, Iran’s representative to the Gas Exporting Countries Forum (GECF).
+
Previous meetings of the GECF have caused consternation among gas consumers, who fear the group may develop the same influence over gas markets as the Organisation of the Petroleum Exporting Countries (Opec) has over oil.
The GECF may eventually gain sway over prices but gas and crude trade is so different and the forum so immature that there is little chance of members working together for now.
No related posts.
June 27th, 2009 at 10:41
The ECB does it under the belt.
ECB favours underground press over helicopter drop
Drop money from helicopters to avoid depression. So said Ben Bernanke, president of the US Federal Reserve. Helicopter money-drops are highly visible. And when the descending cash is simply printed money, it can attract widespread criticism.
By Ian Campbell, Breakingviews.com
Published: 5:07PM BST 24 Jun 2009
http://www.telegraph.co.uk/finance/breakingviewscom/5625921/ECB-favours-underground-press-over-helicopter-drop.html
SNIPS
The European Central Bank prints money too, but it also distributes it to banks through underground tunnels. It pumped them a tidy €442bn (£376bn) on Wednesday, an unprecedented one-year deal at a record low interest rate of 1pc.
The US and Europe are fighting the forces of recession, deflation and even depression. The world’s attention has focused on Fed money-printing.
+
The two central banks have adopted different approaches.
+
The banks are likely to hoard the ECB’s cash rather than lend it on within a collapsed and dangerous eurozone economy
June 27th, 2009 at 12:55
Therefore, Britain will never join the euro.
Therefore, the Prince of Wales is buying gold.
From The Times
June 26, 2009
Timely switch out of shares saves Prince £6m
Tom Bawden
http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article6578860.ece
June 27th, 2009 at 15:44
China repeats criticism of dollar dominance
By Peter Garnham
Published: June 26 2009 12:00 | Last updated: June 26 2009 12:00
http://www.ft.com/cms/s/0/f2236be4-6239-11de-b1c9-00144feabdc0.html
SNIPS
The People’s Bank of China repeated its call for the world to cut its reliance on small set of reserve currencies on Friday.
In its annual financial stability report, the central bank said it saw serious defects in one currency dominating the global monetary system, a cloaked reference to the dollar.
+
“The Chinese government is still more happy to play to the tune of the US, which sees leaning against the wind in order to protect the dollar as a necessary evil.”[said Stephen Gallo at Schneider Foreign Exchange]
June 27th, 2009 at 16:28
Gas exporters meet but group’s sway still weak
Reuters, Friday June 26 2009
World’s top gas reserve holders meet on June 30 in Qatar
To discuss market, but long way from control over prices
By Simon Webb and Daniel Fineren
http://www.guardian.co.uk/business/feedarticle/8578526
June 27th, 2009 at 17:28
RE:
1 Ivo Cerckel Says:
June 27th, 2009 at 10:41 am e
The ECB does it under the belt.
ECB favours underground press over helicopter drop
http://www.telegraph.co.uk/finance/breakingviewscom/5625921/ECB-favours-underground-press-over-helicopter-drop.html
A FRIEND REACTS:
Nobody is seriously wondering how the situation could possibly evolve this far.
Hence,
the sheeple’s attention is being drawn to the helicopter and the tunnel money-mania.
In that way,
our Masters can prevent the sheeple from perceiving the real cause.
Indeed,
upon the perception of the real cause,
the euro-dollar exchange-rate may have to be adapted.
June 30th, 2009 at 15:47
Since inception, GECF members have stressed that their gathering is not aimed at setting up a gas exporters’ cartel. The founders also welcome participation by consuming countries to take part in the development of the gas industry in co-operation with exporting countries. (1)
But the other guy died last week.
Ivo
(1)
Gas meet to focus on global crisis
By Pratap John/Chief Business Reporter
Latest Update: Tuesday30/6/2009June, 2009, 12:27 AM Doha Time
http://www.gulf-times.com/site/topics/article.asp?cu_no=2&item_no=300098&version=1&template_id=48&parent_id=28
July 1st, 2009 at 07:15
Gas producers fret over demand, agree on little
Reuters, Tuesday June 30 2009
Gas exporters rue U.S. lost gas appetite
No agreement on leader of gas group
(Adds comment from Russian energy minister, background)
By Simon Webb and Luke Pachymuthu
http://www.guardian.co.uk/business/feedarticle/8584838
SNIPS
DOHA, June 30 (Reuters) – The club of major gas producers fretted over sagging demand and prices at talks on Tuesday, but the loose grouping is far from having the power and collective will to do anything to tighten the market.
Ministers from the Gas Exporting Countries Forum (GECF), whose members control more than three quarters of the world’s gas reserves, failed to agree on a leader, one of the modest aims the group set itself for the meeting.
+
Previous GECF gatherings have stoked fears among consumers the group may develop the same influence over gas markets as the Organization of the Petroleum Exporting Countries (OPEC) has over oil but analysts say it could be years before the group gets organised
July 1st, 2009 at 07:47
GECF will play a major future role, says Russia
By Pratap John
Chief Business Reporter
Latest Update: Tuesday 30 June, 2009, 10:16 PM Doha Time
http://www.gulf-times.com/site/topics/article.asp?cu_no=2&item_no=300315&version=1&template_id=48&parent_id=28
SNIP
Russia is confident the role of the Gas Exporting Countries Forum (GECF) will increase in future, the country’s energy minister Sergei Shmatko has said.
He said cooperation among the 13 GECF members, which include Russia, Iran and Qatar, would benefit the markets.
July 1st, 2009 at 08:02
This contradicts the article quoted in reaction 8
Russia Fails to Offer Gas Candidate
01 July 2009By Anatoly Medetsky / The Moscow Times
http://www.moscowtimes.ru/article/600/42/379175.htm
SNIP
Members of the Gas Exporting Countries Forum delayed a key vote for its secretary-general Tuesday after Russia didn’t even propose a candidate, an indication that interest in the body from the largest producer of the fuel may be waning.
July 1st, 2009 at 14:02
Gas exporters urged to focus on research
Web posted at: 7/1/2009 6:54:10
Source ::: The Peninsula
By Nasser al Harthy
http://www.thepeninsulaqatar.com/Display_news.asp?section=Local_News&month=July2009&file=Local_News2009070165410.xml
SNIP
DOHA: The Deputy Premier and Minister of Energy and Industry, H E Abdullah bin Hamad Al Attiyah urged members of the Gas Exporting Countries’ Forum (GECF) to enhance cooperation to make the group more vibrant.
Secretary General in December
Web posted at: 7/1/2009 6:54:29
Source ::: THE PENINSULA
http://www.thepeninsulaqatar.com/Display_news.asp?section=Local_News&subsection=Qatar+News&month=July2009&file=Local_News2009070165429.xml
SNIP
DOHA: Gas Exporting Countries’ Forum (GECF) has postponed the selection and appointment of its Secretary General to December as requested by some GECF member-countries.
Ivo:
Asian currency also postponed until December
http://bphouse.com/honest_money/2009/07/01/gulf-asia-eye-currency-bloc-based-on-gold-oil/
(If the link does not work, try to copy it and to paste it in your browser)