Some thoughts on our energy security !
((ONE))
Around the 27th of February, 2019 I had written a
blogger post that was to serve the purpose of apprising all and sundry as
regards the plausibly / covert energy security angle to the then Indo-Pakistan
tensions and the possibility of some embedded subjects ( perhaps on either side
of the border as also third party vested interest eg. selling arms, ammunitions
and armaments, etc. elementals ) potentially or purportedly allowing the
situation to go out of hand… thereby allowing the Indo-Pakistan cross border tensed
up situation to move to being - real hot and nasty, in light of the
Pulwama terror attack ( which I have always suspected and do believe to be a contrived
affair; probably or ostensibly a false flag affair in its’ entirety ).
Again – whilst trying ( in all the ignorance and naiveté ) to
follow the geo-strategic cues emanating from the plethora of diverse angles /
viewpoints littered across as tid-bits from diverse / divergent news segments…
one could easily relate / infer / interpret the entire tensions in the
sub-continent episode to the covertly massive ( albeit a ratcheted one and often-times
zig-zag, hap-hazard, etc. machinations ) on-going stratagem to capture and
control the demand-supply paradigm of the crude oil in
the international markets. Hence, the orchestrated hidden plays centering on Iran
and Venezuela had to be necessarily mentioned… these two countries being
holders of the largest and the perhaps second largest reserves of crude oil, on
a global scale.
Perceptibly… the neo-imperialist players deeply entrenched
primarily from within the realms of Wall Street as also… the London Stock
Exchange, Luxembourg Stock Exchanges, etc. have been baying for seizing the same
hydrocarbon resources since several years or perhaps decades, as of now. And…
there seems to be a marked increase in their cumulative efforts over the past
few years… more so, over the past few months.
Collusive and collaborative efforts / game / machinations in
order to… capture, possess and control the
intended huge hydrocarbon resources.
The prime intention could be - as and when that total
control were to be ever actualized… the entire demand supply cycle would
be in the hand of a coterie of people that surely might be holding sway at - a set
of some monolithic globalist mega corporations.
Putting this… plain, clear and simple.
((TWO))
The relentless West led coercion and endless trade embargo
on the Venezuelan economy specifically aimed at the Venezuelan hydrocarbon exports
saw that the Venezuelan state energy conglomerate PDVSA’s crude oil exports were
gradually throttled down in a rather calibrated manner, in no time ( during
January -April, 2019 ).
These Western led sanctions were intended to deeply impact and
ruin the crude-oil exports dependent Venezuelan economy; and they almost ended
up being successful. The underlying idea is regime change leading to
putting forth an amenable puppet. Who allows the Venezuelan hydrocarbons
resources to be sold, leased out, owned, captured, etc. by Wall Street, etc.
based mega corporations ( rather than be developed by Chinese or Indian oil
majors ).
Again… at the very outset of the global-scale sanctioning of
the Venezuelan state energy conglomerate PDVSA’s hydrocarbon exports… some
private players in India who had been importing a good chunk of the Indian
hydrocarbon needs from Venezuela… simply quietly bowed down and succumbed to
the Western dictates in a rather pretty much lame duck manner.
The acquiescent meek compliance to the Western sanctions
leading to supply abandonment by these non-government held Indian private
refineries had ostensibly NO or NIL or next to nil influence or say from the
Government of India ( GoI ) side, headed by PM Modi. And… this is rather exasperatingly
puzzling and smacks of potential policy paralysis at the highest levels of the Indian
government and governance.
One expected that the officials, ministers and ministries of
– the PMO, the Finance, Petroleum, Foreign Office, MEA, etc. NSA Ajit Doval, etc.
to have actively pitched in protesting the US led sanctions. But, they seemed
like mere acquiescing spectators whilst the present and future energy security
of the nation was in the process of being compromised, in a rather unobtrusive
manner.
Stated… plain and simple.
((THREE))
This contextual thought arises again and again…
…the former PM Indira Gandhi might not have been mere
spectator ( If such a leadership personality was actually around, at this
instance of time. ); and possibly, she might have provided full support to the
private players so that whilst having the Indian government backing… they could
take some rigid stance against being forced to fully scaling down their crude
imports from Venezuela.
She was not one to bend… at least in the domestic context / scenario.
Again… there were sure shot chances that if any private players
were forced to compromise the energy security needs of the nation then she
would not have hesitated in taking drastic measures against such pliable entities.
There was ample scope that she might have nationalized the assets and
refineries of such weak players… for the good of the Indian nation and for the
good of the Indian people.
In such eventuality, might that have been a laudatory step ?
For… what is the use of entire private sector refineries
being shut down thereby contributing to curtailment of the net cumulative international
oil supply flow ?
In which process, allowing the international pricing of
crude oil to appreciate. Which in turn surely negatively impacts the Indian
economy and the growth story ?
Again, when a fully functional refinery is partially or
fully shut down for the lack of raw material in the form of crude, then this
renders thousand of the dependent workers as out of work or partially employed
/ employable.
QUESTION –
Some time back, chanced on this news that the senior Ambani
seeks to hive off almost 25 % share of his refinery business ( which sits under
the umbrella of RIL ) to the Saudi Arabian hydrocarbon giant Aramco ( stake
is controlled by Saudi Arabian regent - MBS ) for a consideration of upwards of
USD $ 10 - 15 Billions.
Question arises – whether this is being done so that any
risk of any future Indian Governmental partial or full takeover of the refinery
business is mitigated, by muscular and huge foreign conglomerates being pulled
in as partners ?
Maybe, that might be playing in the minds of some certain think-tanks.
And, why not… the risk is always there if any domestic
entity is deviant or is forced to be deviant; even when it is contrary to the
energy security needs and imperatives of the government of the day… and
therefore contrary to the interests of the nation and the well being of the
general populace.
Now… this comes and assailed my thinking a few times… so putting the same here… with no malafide
intentions against anyone.
((FOUR))
During March-April of 2019, in the larger interests of the
nation, there was an imperative need on the part of the Indian Government to somehow
ensure the continuity ( and… at best tirelessly delay the supply restriction
sought by the sanctioning Western nations ) to the flow of the Venezuelan crude
oil sourced through the Venezuelan company, PDVSA … to the Indian markets.
This would have ensured that one set of major global supply
sources remained flowing - open, independent and productive.
Seems like… the major hydrocarbon consuming Asian countries
( mainly India, China, Japan, South Korea, Turkey, etc.) might have failed in
coming up with certain collaborative efforts to ensure the free flow and supply
of the Venezuelan crude oil in their domestic markets.
The very moot point to understand here is… if ( let’s
say ) China or Russia or Turkey defies the Western sanctions that is led by
America and allied countries. Then that mere action is not sufficient enough;
and might be essentially meaningless and smack of tokenism, in the larger
context.
The countries defying the US sanctions MUST have (
apart from the act of mere defying ) necessarily increased their Venezuelan net
crude oil import so that the sanctions were effectively rendered redundant.
That might have meant that the total daily crude oil production and export, out
of Venezuela, was minimally affected. This was to be vitally important.
I hope that the Russians, Chinese, Japanese,
Koreans and the Turks do take note. That way, the chances of any
downward impact or sharp reduction in the crude supply having a direct bearing
on the ratcheting up of the international oil prices are kept at bay.
Effectively, that potentially serves to safeguard these
countries’ own economy against higher crude oil import bill, which in turn, might
lead to inflationary pressure and slowing down of the effective GDP growth and
growth rate.
((FIVE))
Now…
After succeeding in appreciably stifling the Venezuelan oil
exports… during March-April, 2019 which deeply impacted the Venezuelan economy…
…since the 22nd of April, 2019 Western block of
nations led by the USA are trying to completely choke the Iranian oil exports
as well, using their draconian sanctions power.
The moot idea has been to choke the Iranian oil exports to
near zero levels. This might go on to destroy the Iranian economy that brings
utter chaos, unrest and rampant despair amongst the Iranian masses. Active
ingredients for regime change… to install a pliable puppet government in Iran.
So, the limited time period sanction waiver ( lapsed
on the 2nd of May, 2019 ) that the US had given to a group of eight
countries ( including India, China, Turkey, Japan, South Korea, etc.) on the
Iranian Oil imports was allowed to be lapsed this time, rather than
being renewed again.
This effectively meant that those eight countries that were
enjoying sanctions waiver on the Iranian oil ( the Iran oil sanctions
being waived off in their case, for limited time frame ) are not to be allowed
to import any more of Iranian oil.
Now… China and Turkey have defiantly protested this US led
sanctions; and they do indeed continue and do intend to continue
importing the Iranian crude oil which is essential for their economy.
In fact, China has increased the actual quantum of Iranian
oil imports, these days.
(
And… this sounds rather good in the sense that the other
major oil exporting countries may not be able to significantly
reduce their oil supply / export to international market, which negates any
chance of the crude oil price rising significantly, in near term.
If the oil exporting countries reduce their oil exports
below a certain threshold… then the same affects their GDP numbers and their
economic outlook.
)
But, our Indian nationalistic NDA-2 government led by BJP,
RSS stalwarts has sort of chickened out ( as per the most knowledgeable former
diplomat M K Bhadra Kumar who writes articles at www.indianpunchline.com ) in their
meek surrender as a response to the overt bullying which is what this…
American led sanctions, actually is.
Frankly… that’s what transpires when there is lame duck
cumulative national leadership that is more engrossed ( since that is more
profitable for them politicians ) in endless jingoistic rabble-rousing and
playing to the insecurities, wishful thinking, dreams, aspirations, etc. of the
masses… intended to misle and lead astray the domestic audience; in the process
subverting what might or must be the dominant narrative and supplanting the
same with other oft repetitive narrations.
Whereas crucial and critical national interest matters are
let by; whilst those set of situations and exigencies definitely demanded that
the Indian leadership buckled up and displayed some persistence in their resistance
in a rather non-compromising manner to safeguard the broader national security interests
( present as well as future ) of the nation.
One truly expects our national leaders and their close associates
NOT to be supplicant, rudderless people that lacks real grit and determination.
If that be indeed the case… then in failing to discharge their rightful duties…
they smite at the ageless spirit of this nation.
Even a pretense at token protestation of this oils embargo
might have been deemed as some sort of respectful posturing. But the reality
looks regretfully tantamount to a tactless genuflection to the will, whims,
intent, motives, motivations, stratagems, etc. of some set of megalomaniacs.
((SIX))
It is funny matter that the USA equates its
support in the supposed American effort for the blacklisting of JeM Chief
Masood Azhar as UN designated and recognized terrorist ( based out of Pakistan,
of course tarnishes Pakistan’s image as a harbor and host of global terrorists
) with its’
Iranian oil sanction’s waiver annulment for India.
Which purported wilful association is rather funny and
tasteless. Smacks of mere tokenism, at best.
UN designating JeM Chief Masood Azhar as a global terrorist
on it’s list is not worth much. It only speaks of some success of the Indian
diplomacy.
This same association must no ways be coupled or
corroborated with the dire imperatives of the Indian energy security needs and
necessities that bear stark effect on the Indian economy, the GDP numbers, the
inflation rate, the strength of the Indian Rupee vis-à-vis other global
currencies and reserve currencies, the employment stats, etc.
((SEVEN))
Few days back it appeared in some sections of web media that
government officials ( perhaps from
Petroleum Ministry ) from India and China are trying to come together to form an
Oil “Buyer’s Group”.
In this context, some key officials from the Indian Public
Sector Unit ( PSU ) - the Indian Oil Corp. ( IOC ) and those from China are
trying to come together and form a coalition of sorts to collude and collaborate
in order to keep the global crude oil supply easily flowing, sans appreciable
hiccups or disruption in the entire supply chain ( that are designed for
disruption by third parties whose ongoing actions surely to be having malignant
effect on the national economies of these two huge nations ).
Now… whilst this entire idea sounds way too good, grand, much
needed and fabulous for the two countries.
Yet, one may remain truly skeptical, given the current
Indian leadership’s almost total silence on the issue in the open domain.
Again… there are powerfully entrenched groups deeply seated
within the folds of the Indian system ( perhaps having covert collaborators / collaborations
in the deep state of the Western system and as also the Oil Conglomerates )
that have siphoned off huge quantum of Indian wealth, tantamount to tens of
Trillions of US Dollars $, to overseas locales over the past 60-75 years.
Some of these covertly treasonous people having become the
covert partners of the neo-cons might have an interest opposite to that of the
broader Indian nation… in the sense they would NOT care even if the crude oils’
global supply is disrupted that leads to a ratcheted escalation in the pricing,
owing to tapered off supply.
( Whilst the ongoing demand must necessarily increase on a
month to month basis in each and every country, around the globe… owing to
growing population and oil consumption needs. )
In a nutshell… though the Chinese government and
officials might be truly earnest and diligent in their endeavor to
ensure the free supply of the global crude oil from maximum number of diverse
sources… that results in reducing their oil imports bill to a minimal level.
That same, unfortunately, may never be claimed for the
cumulative Indian effort – sad but true. For, there could be potential within-the-house
as also external saboteurs to the entire efforts, on some groundless pretext or
the other. ( Here… voicing some concern, for risk
mitigation… )
There might be some sort of “delay tactics” that may
be employed by unknown insidious elements to sabotage or delay the much
required timely Indian + Chinese efforts and actions ( who knows –Japan, South
Korea, Turkey, etc. may decide to hop on board… down the road ), in ensuring
this “free flow of crude oil from maximum number of sources”.
So… whilst the Indian-Chinese engagements to find a common
ground and collaboration to build up an “Oil Buyer’s Group” must
relentlessly proceed to some sort of fruition with the
underlying agenda firmly defined and set… there may be other parallel ploys
that might be tried out that may work equally well or might be more effective
over the oncoming period of time.
Having, next to nil understanding as regards the situation
on the ground, etc. yet… must elucidate another parallel line of thinking on
this critical matter that probably requires some more fine-tuning and out of
the box thinking.
((EIGHT))
1) Whilst the US has sort of succeeded in (
effectively ) taking the B ( Brazilian leadership… hence their
commitment ) out of BRICs.
A thought - The same nearly sounds true for the I
in the remnant of BRICS – B = RICS. Sometimes it seems that they Americans are at
least, at the cusp of removing the “I”, sort of.
(
I guesstimate that they truly intend to achieve that
within the next five years, in the case a wrong set of people and/ or
government comes to the helm of Indian leadership, at New Delhi. My observation may not be wrong. Again… the S
in RICS is perhaps for name sake purpose only. Sort of cosmetic appeal. So… the
real core of the bRICs is always the RIC combine.
Must necessarily be the IC combo, backed and balanced by Russia on some
sort of a fulcrum !!
)
2) Now… since Russia is anyways heavily sanctioned by
the USA.
And during this time - the Russians have greatly diverged
and divested their nearly USD $ 500 Billions of Foreign Exchange buffer with
/into - Gold, precious metals, Euro,
Yen, Yuan, etc.
Thereby providing them greatest immunity against any / all US
initiated economic warfare, that is generally and mostly centered around weaponizing of the US Dollar $, to a great extent.
3) Frankly, the majority of world denizens surely do look
forward to the Russian leadership and ( to some extent ) to China to ensure a
multi-polar world order that is lead and managed by the
Asian countries… thereby leading to a truly Asia led twenty
first century.
This MUST happen.
And, is bound to happen !!
4) Russia ( and, perhaps China as well ) have or
might be having long time and term refinery collaborations / investments / assets in Venezuela as well as in Iran.
That means, that irrespective of the US sanctions on
Venezuela and the Venezuelan state oil company PDVSA as also the ostensibly illicit
oil exports embargo imposed by USA and its’ allies on Iran… the Russians
sure do have the capacity and the requisite resources to continue importing oil
in increasing amounts from either Venezuela and / or Iran. No one can stop them
from doing so.
The very same inference can be made for China. In fact,
China has massively increased its’ oil imports from Iran over the past few
months, and it seems highly likely that it might continue doing so… irrespective
of the US denominated sanctions waiver ending on the 2nd of May,
2019.
5) The moot (B)RICs ( B seems like gone !! ??
) or rather the IC intent must be to keep maximum number of oil
supply sources to be independent of globalist’s control, fully functional and productive...
so as to freely contribute / cater to the global oil demand.
That requires that India, China, Japan, South Korea,
Turkey, etc. countries must continue importing increasing amount of oil
from both these sanctioned countries.
But then contrastingly, Russia happens to be oil exporter,
to some extent. And gains from any increase in oil pricing. And… the Russian
economy does gain from any global increase in the crude oil prices. So… how India-China,
etc. based combo may factor the Russian interests, in this
current scenario ?
6) To obviate the US led sanctions on Iran,
Venezuela, etc. …
This requires some sort of Special Purpose Vehicle ( SPV
) being formed by ( say )
the IC or RIC alliance.
Wherein…
a) China MUST choose to be the core dominant player. Aided
by Russia and India.
b) China and Russia may be dominant players. Aided by the Indian
side.
c) China and India MUST be dominant players. Aided by the already
heavily sanctioned Russian side banking sector / trading support; lastly
d) China, India, Turkey, Japan, South Korea, etc. ( all
those countries who majorly imported oil from Iran; as also from Venezuela )
MUST collectively form this Buyer’s Group to be dominant players… so that it
becomes the Buyer’s market rather than the Seller’s market.
For example… the makeup of this RIC based SPV, Russia :
China : India could be any of –
a) 60 : 30 : 10, or b) 45 : 35 : 20, or c) 70 : 30 : 0 etc.
Now, again… for example… the makeup of probably this China,
India, Turkey, Japan, South Korea, etc. based SPV -
China : India :
Turkey : Japan : South Korea, etc. could be any of –
a) 30 : 20 : 12 : 20 : 12 : … ; b) 25 : 18 : 12 : 20 : 12 : … etc.
Now… this seems highly likely that the current Indian
leadership ( or – perhaps any future Indian leadership, after conclusion of LS
polls May, 2019 ) would not stand OR
want to stand up to the US bullying and might refrain from
directly being involved in the import of Venezuelan and/or Iranian crude oil.
Or, even by deft statecraft / diplomacy / machinations / ways and means, etc. …
to effectively render the America led oil embargo as effectively having dud
consequences… and tantamount to mere tokenism, at best.
Something, sort of a precedent MUST be tried this time.
So that the same Venezuelan and / or Iranian crude oil MUST
be made free and accessible to the each and every country by the cumulative
tenacity of the Chinese, Japanese, South Korean, Turkese, etc. leadership that ensures free flow of crude oil
to these countries, from the sources of Iran and Venezuela as well.
The SPV so formed primarily lifts the oil from these two
sanctioned locations ( incurring minimal risk to their tanker fleets; which may
directly anytime consist of tankers and manned by personnel from each
and every of these countries ).
Again… the same crude oil may be directly sold to non-active
or hidden members of the SPV ( as a form of
within-the-SPV group trade ) at some minimalist premium (
say – what about USD $ 1 or 2 per barrel ) so that the offer looks like real
attractive to the Indian side.
NOTE – Even, a premium of USD $ 1 or 2 above the
agreed on pricing between Iran, Venezuela is NOT insignificant.
That premium is tantamount to, if some non-active partners
( but fully supporting the SPV without being anyways involved ) within the
folds of the SPV were to import - 500,000 barrels per day, bpd.
Then that becomes = USD $ 500,000 per day and that
translates as paying an excess of US $ 365 X 500,000 per year = USD $ 1.825
Billions per year, by the non-active SPV partner.
Again… a premium amount or an excess payment of US $ 2
per barrel might mean, the above payment becomes = USD $ 3.65 Billions per year to the collective
state owned SPV.
7) Frankly,
the above excess payment may sound way too much. But the fact remains that this
much needed oil import originating out of Venezuela and Iran contributes
significantly to the total global supply quantum ( as a certain significant percentage
out of the total global supply ) on a day to day basis… and this certainly
goes towards cooling off the global oil prices.
And, no matter whatever might be the disturbances in other terrains
like Libya, Iraq, etc. as also the endless machinations by the major OPEC
players like Saudi Arabia, UAE, etc. in close collusion with the Western
partners /players… in playing out with their production cuts, etc… any tapering off of supply might NOT have significant effect on
the global oil pricing.
And, this element is real vital for the Asian growth story to
continue at some pace for some years… perhaps at least a decade… going forward.
8) There could be chance that this SPV might trade
“extra” oil with some other countries, as
well. All in all – this SPV might certainly be a win-win profitable venture of
sorts.
9) Note MUST be made of the following to facts
on the ground –
US government official Mike Pompeo used to be the CEO
or head of some oil industry based organization / corporation before he was
enrolled into representative role of the US regime headed by Prez Trump. He has
several decades of association with the Oil industry… therefore an old time
veteran of this industry. All… please take note.
Same holds true for the US government official John
Bolton… who has been having past and enduring associations ( since several
decades ) with those Business leaders and Corporate, politicians, etc. who have
been pretty much entrenched in the crude oil
business.
Both these top US officials are old hands and veterans of
the oil industry / business. And… friends of the Benjamin Natanyahu aka Biwi.
10) Days back the legendary Warren Buffet of
Berkshire Hathway ( BH ) has made pretty significant investment ( running in
several US $ Billions ) in a US based company that is engaged in the shale oil
extraction and export domain ad controls nearly one-third of the entire Shale
oil market.
Warren Buffet is reportedly a very conservative investor (
having only two basic rules to his investment philosophy ), and mostly his
investment focus always have been insurance sectors, etc. wherein the risk to
his capital investment is almost always NIL or next to nil.
One may deduce that when Warren Buffet is investing heavily
in the US shale oil based industries, then there are ample chances that… backed
by the ongoing American oil sanctions on Iran and Venezuela… there are definite
chances / certainty that the supply lines of the global crude oil are
purportedly going to be limited.
That means that the oil importing countries ( especially
the major Asian ones ) might be forced to import more oil from Saudia
Arbaia, UAE and perhaps the shale oil from the USA.
Now, going forward if any time the OPEC members were to
engage in oil production cut… there are certain chances that owing to supply
disruption - the demand for the American shale oil is certainly going to
increase.
By limiting the effective supply ( as they generally do in a
cartel or monopoly situation )… the price of crude oil in the global markets
might be made to sky rocket.
And… that might seems like one set of the primary intent,
motive, motivations of the draconian American sanctions on Iran and Venezuela.
Because , essentially the global crude oil market is
dependent on the vagaries of demand-supply paradigm; and that eventually translates
into the effective price of the crude oil, at any instance of time !!
This pointer must be appreciated and remembered well.
Especially by the Indian leadership as also by our rival
neighboring countries. ( btw rivalry may not be tantamount to enmity or open
hostility. Though, in popular perception it is so. )
((NINE))
Again…
This collectively formed SPV may seek and/ or be in a
position to have long term purchase agreement with the Iranian and the
Venezuelan government.
And… in a mutually profitable scenario… the SPV may agree to
purchase oil from both these governments at almost a flat rate per barrel ( at
best - fluctuating between two near ranges ).
Let’s say the SPV purchases oil at USD $ 35 per barrel
whilst the international price could be around that level.
Now… for every USD $ 10 increase in the pricing of the
global crude oil ( as dictated by OPEC production cuts and resultant supply)
the SPV may add USD $ 2 or 3 to this base price.
So, for the global crude oil pricing of USD $ 45 per barrel…
the SPV may be able to lift oil at USD 35 + 2 or 3 =USD $ 37 or $ 38 per
barrel.
Similarly, as another example - for a pricing of USD $ 75
per barrel… the SPV pays USD $ 35 + (( 75 – 35 ) X 2)/10 per barrel = USD
$ 35 + 8 = USD $ 43 per barrel.
This is a win-win situation. The Iranian and the Venezuelan
governments get funding to run their country and economy. And, the SPV owner countries
get the oil at quite some discounted pricing.
((TEN))
There are few things to be noted here –
1) When the SPV pays rather less, compared to the global crude
oil price, then it is sort of taking a huge risk against the much entrenched imperialist
forces.
And, this must be understood that… the SPV was formed that there
must be a certain cost advantage to be had whilst importing oil from these two
countries.
2) Lowered costs to the SPV ensures that the SPV forming
countries are bound to import more of these oils. And, this might result in
their share of imports from other global sources to see significant paring
down… which, in turn, may cool off the global crude prices.
And then the remnant of the oil needs… any country may
decide to selectively import from Saudi Arabia, UAE, etc. countries.
3) Again, this continuity of importing oil by the new formed
SPV ( say - to be located out of any third country ) from both Iran and
Venezuela gives these two countries the economic leverage to be somewhat in a
position to resist against any military mis-adventures / invasions / regime
change projects.
Again…
This helps protect their innocent populace against the
vagaries of economic sanctions that may eventually lead to millions of deaths.
That massive human suffering and loss of lives - we have seen in the case of
Iraq, Afghanistan, Libya, Syria, etc. perpetrated by the same actors on some
pretext or the other.
4) Whilst advocating a pared down base pricing for the
purchase of Venezuelan and Iranian crude oil by the SPV so as to make the
entire proposition as a highly attractive one… the discounted amount on a per
barrel basis that is NOT paid to them ( at that instance of time ) MUST be paid
to them in some other form ( say by the ways of - barter trade ); then or perhaps
at a later date.
TAKEAWAY –
Of course, there are very smart, intelligent and ( crude oil
) domain expert top-notch people from the collective leadership of India,
China, Japan, South Korea, Turkey as well as in Venezuela and Iran… who might
have much better ideas and action to obviate and render as ineffective… this replay
of the sanctions game play… much unleashed and misused by the neo-imperialist
forces.
And, someone or some set of honorable people ( cutting
across nations ) sometimes must start putting an end to these… or start to gradually
tightening screws on such sanctioning regimes.
When one cumulatively starts tightening the screws from each
and every corner… that leaves them lesser and lesser space to act nasty and
brutal with others.
< EndOfPost >
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