International oil bank - President Chavez's suggestion

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    • International oil bank - President Chavez's suggestion

      An interesting read from thaindian.com/newsportal/busin…s-oil-bank_100105119.html

      Venezuelan President Hugo Chavez has suggested the creation of an international oil bank aimed at ensuring energy security in the face of uncertain and speculative oil prices.The proposed bank could be formed within the Organization of the Petroleum Exporting Countries (OPEC) or failing a consensus in the cartel, by major non-OPEC nations, he said.

      Post was edited 1 time, last by Orzuri ().

    • Oil bank - energy security or price control

      Small piece of news about Chavez. But can be a big impact.

      May not happen too soon. The Dow Jones is falling badly today. Can see the wrinkles on the foreheads of the Opec's leaders.

      Some middle eastern countries have been overspending on infrastructure hoping to make the land green and lavish (very artificial) and attract the world's rich to live in the Middle East

      Even if this dream starts materialising, will there be sufficient inflow if people and sufficient funding generated to maintain the fancy and extravagant mega projects? Will the Middle East see a real crunch? Maybe we look at this one year from now? :S