India and China to Team Up for Oil & Gas Bidding
I'm not sure how I missed this, but the governments of India and China have announced that their state-run oil and gas companies are entering into an agreement whereby they'll be able to jointly bid on oil and gas assets.
Indian firms will sign separate memoradums of understanding (MOUs) with Sinopec Corp, China National Petroleum Corp. and CNOOC, the head of Indian oil ministry's international division said.
Both countries are, of course, net importers of crude oil and natural gas and their growing demand for same is pointed to by many as one of the reasons for the high energy prices worldwide.
Some believe that this alliance will give the countries the financial wherewithal to compete on the global stage, and, indeed, it will eliminate one competitor from the picture.
But, as CNOOC found out when it set it sights on Unocal, there's more to being a player at that level than simple access to cash. It's a bit naive to think that by bringing India into the picture, China's politics will somehow be glossed over or appear irrelevant to governmental authorities having jurisdiction or influence over such transactions.
As for India, I trust they're simply adhering to the time-proven strategy of keeping their friends close, and their enemies even closer. But, there's another adage that might apply...something about lying down with dogs...
Technorati tag: India/China Partnership
;-)
Posted by: Eric at August 19, 2005 02:38 PM%%% EXPERIMENTAL %%%
A couple of years ago, I talked to Congressman Jackson (son of Rev. Jackson) while being interviewed by Bryan Lamb. At that time the GDP was growing at an annual rate between 2%-3%
I said to Jackson and the CSPAN audience which includes high government officials in Washington DC. I said to Jackson that the GNP of the country is ONLY THE WORK OF NO MORE THAN 95% of the country's workers -- because the Federal Reserves cuts off the money supply everytime employment approaches 95%.
Then I said to Jackson and Bryan Lamb that by ratio and proportion, THE GNP OF THE UNITED STATES CAN GROW 7% to 8% annually, IF ONLY THE UNITED STATES PUTS TO EMPLOYMENT 100% OF THE COUNTRY'S WORKERS.
Look at it this way. When the United States employs 95% of the workers, the US is actually just running at 95% CAPACITY. So by RATIO AND PROPORTION, IF YOU PUT 100 PERCENT OF THE WORKERS TO WORK, THE US SHOULD BE PRODUCING GNP AT 100% CAPACITY. As such, it is a 5% INCREASE OVER THE 95%.
Since at the time I talked to Jackson, the annual growth in the GDP was only 2%-3%, I said that the US ECONOMY SHOULD GROW BY 5 ADDITONAL PERCENTAGES IN ADDITION TO 2%-3% OR 7%-8%.
If you will notice, I heard that MAINLAND CHINA'S GNP IS GROWING AT 10% ANNUALLY!!!! If the US economy was growing at 7%-8% as I predicted to Jackson at that time, IT WOULDN'T BE TOO BAD. But the trouble is that Greenspan didn't follow Eurasian's plan totally. That's why US GDP is only growing at something like 3%-4% today.
This is what happened. The Federal Reserves used to always keep employment below 95%. And no matter what people like Ex-California Mayor Gerry Brown said to lower the Fed Funds rate, THE FEDERAL RESERVES NEVER LISTENED TO THEM, BECAUSE ALL OF THEM, FED, GREENSPAN, GERRY BROWN, ECONOMISTS ALL BELIEVED THAT EMPLOYMENT BEYOND 95% WOULD BE HIGHLY INFLATIONARY BECAUSE THAT IS WHAT THE TEXTBOOKS ALL TOLD THEM THE ENTIRE 20th CENTURY!!!!!
In stark contrast, EURASIAN TOLD THEM THAT IT WOULD NOT BE INFLATIONARY --- BECAUSE THE GOODS AND SERVICES THAT WILL BE PRODUCED BY THESE FORMERLY PERPETUALLY UNEMPLOYED PEOPLE will be DEFLATIONARY.
Well, GREENSPAN LIKED EURASIAN'S EXPLANATION. AND WHAT DID GREENSPAN DO??? GREENSPAN KEPT THE FED FUNDS INTEREST RATE LOW EVEN WHEN EMPLOYMENT WAS 95%. AS A RESULT THE US NATIONAL EMPLOYMENT RATE REACHED 96.1% which is 1.1% beyond the 95% cutoff. And the US GDP grew at an annual rate of something like 4.6%. This GDP annual growth of 4.6 percent is CONSISTENT WITH WHAT EURASIAN PREDICTED USING RATIO AND PROPORTION BECAUSE REMEMBER, US EMPLOYMENT BEFORE WAS NOT 95% BUT BELOW 95%.
What would happen if 100% of the US worker population are employed??? The US GDP SHOULD GROW AT 7-8% OR MAYBE EVEN AT 10% WHICH IS THE RATE AT WHICH CHINA'S ECONOMY IS GROWING TODAY!!!
IT IS HARMFUL TO THE COUNTRY WHEN GREENSPAN DOES NOT ALLOW US EMPLOYMENT TO EXCEED 95% ANYMORE. This change in Greenspan's policy, I think came about when THE QUEEN OF ENGLAND KNIGHTED GREENSPAN. Thus Greenspan became COLD FEET and ENTERTAINED IDEAS THAT EURASIAN MIGHT BE WRONG. That's why, Greenspan was making more than 7 quarter point increases the past months --TO PREVENT THE EMPLOYMENT RATE FROM GOING BEYOND 95%. Why? Because even if Eurasian might be correct, and US GNP CAN GROW AT 7%-8%, GREENSPAN HAD A KNIGHTHOOD REPUTATION TO PROTECT. At least at 95% US employment, Greenspan gets a benefit from Eurasian's theory WHILE AT THE SAME TIME HE HAS THE GUARANTEE OF THOSE 20th CENTURY TEXTBOOKS AND ECONOMISTS NOT TO ALLOW US EMPLOYMENT TO GO OVER 95%.
BUT GREEENSPAN IS WRONG BECAUSE EURASIAN IS CORRECT. IF THE US EMPLOYMENT RATE IS ALLOWED TO REACH 100%, done little by little everytime opportunity arises to do so with very little inflation, THE US GDP SHOULD GROW AT A RATE OF 7%-8% OR EVEN MORE!!! That's why other eurasian ideas should also be followed like GOVERNMENT ENCOURAGING INVENTIONS AND NOT CHARGING INVENTORS EXORBITANT PATENT FEES INTENDED TO DEPRIVE INVENTORS OF OWNERSHIP TO THEIR INVENTIONS. Remember, it was inventions that brought about the Industrial Revolution WHICH BROUGHT ABOUT THOSE HIGH GNPS AND HIGH EMPLOYMENT.
That's why, American People. DO NOT DISCOURAGE INVENTORS FROM HELPING THE COUNTRY. DO NOT MAKE IT A HABIT TO ENRICH TAXPAYERS AND GOVERNMENTS AT YOUR INVENTORS' EXPENSE. MAINLAND CHINA'S ECONOMY IS GROWING AT 10% a year. WHY ARE YOU SO HAPPY IF THE US ECONOMY ONLY GROWS AT 3%-4% a year???
Posted by: the-eurasian@earthlink.net at August 20, 2005 01:23 PMThat's why, American People. DO NOT DISCOURAGE INVENTORS FROM HELPING THE COUNTRY. DO NOT MAKE IT A HABIT TO ENRICH TAXPAYERS AND GOVERNMENTS AT YOUR INVENTORS' EXPENSE. MAINLAND CHINA'S ECONOMY IS GROWING AT 10% a year. WHY ARE YOU SO HAPPY IF THE US ECONOMY ONLY GROWS AT 3%-4% a year???
No offense, but it seems to me that China's economy has a lot more room for growth (and a lot higher "unemployment" rate) than the U.S. does.
Posted by: bryan at August 21, 2005 07:25 PM%%% EXPERIMENTAL %%% Attention: Congressman Mike Conaway, US CONGRESSMEN, Pres. Bush, Chairman Greenspan
Bryan
I am not offended by your constructive post.
If China still has a lot of unemployed people, especially percentage wise and VOLUME WISE SINCE THEIR POPULATION I THINK IS OVER 1 BILLION, JUST IMAGINE HOW MUCH CHINA'S GNP WILL GROW IF THEIR INVENTORS INVENT THE GADGETS AND SERVICES THAT WILL ENABLE 100% OF CHINA'S POPULATION TO BE EMPLOYED, ---- AND PRODUCTIVELY!!!!!
YES CHINA, INDIA!!!! GROW AT 15%. ENCOURAGE YOUR INVENTORS TO INVENT THE GADGETS AND SERVICES THAT WILL PUT TO EMPLOYMENT 100% OF YOUR PEOPLE!!!! MAY THE GOOD LORD HELP YOU!!!!
It has been a number of years already since I spoke to Congressman Jackson, CSPAN's Bryan Lamb, and the CSPAN AUDIENCE WHICH COMPRISES MOST FEDERAL OFFICIALS OF THE UNITED STATES. LIKE THE FEDERAL RESERVES ECONOMISTS. Even GREENSPAN'S USE OF MY EXPERIMENTAL WHERE HE DISOBEYED ECONOMIC TEXTBOOKS AND ALLOWED FED FUNDS RATE TO REMAIN LOW SO AS TO ALLOW US EMPLOYMENT TO GO BEYOND 95% AND REACH 96.1%, - THAT HAS BEEN SEVERAL YEARS NOW!!! IT ALLOWED THE US ECONOMY TO BOOM -----WHEREAS BEFORE EURASIAN OPENED HIS MOUTH, ON THE FRONT PAGE OF EITHER NEWSWEEK OR TME, WAS THE MAP OF THE SOUTH PACIFIC RIM NATIONS AND THE WORDS IN LARGE LETTERS, "NEXT ECONOMIC ENGINE OF THE WORLD????"
Yes, the American people at that time were resigned to the belief that THE UNITED STATES WAS ALREADY DESTINED TO BE A 2ND CLASS POWER!!!!!
BUT LOOK!!! BECAUSE OF A SIMPLE IDEA ON HOW TO MAKE THE US ECONOMY GROW AT 8% INSTEAD OF 2%-3%, THE US WAS CATAPULTED AND BECAME THE SOLE SUPERPOWER OF THE WHOLE WORLD!!!! Yet Greenspan was only 1/5 of the way. Only 1/5 of the some 7 million PERPETUALLY UNEMPLOYED PEOPLE FROM BIRTH TO DEATH WERE EMPLOYED. There were still 4/5 of the 7 million people that needed to be employed.
And what did Greenspan do???? HE FIRED THOSE 1/5 that were already employed!!!! That is why, you see Greenspan raising the Fed Funds rate a quarter point every time employment nears 95%. WHAT AN EVIL AND UNCHRISTIAN THING TO DO!!!! IF ALLOWED TO CONTINUE, IT MEANS THAT FROM BIRTH TO DEATH, THESE 7 MILLION WORKERS WILL HAVE NO JOBS!!!! HOW WILL THEY LIVE???? BE TEMPTED TO PROSTITUTION, THEFTS, LIES, ROBERRIES, DRUG SELLING, BE PARASITES TO OTHER PEOPLE, AND IF UNLUCKY, END UP AS PRISONERS!!!!
Remember that 96.1% US employment???? Contrary to textbooks, the economy was booming!!! Inflation was not a problem!!! The TEXTBOOKS WERE WRONG!!!! With inventions, all will end up employed ---- AND MOST OF ALL, PRODUCTIVELY!!!!! THAT IS WHY, IT IS A BIG DISCOURAGEMENT WHEN EURASIAN SEES SOME AMERICANS ACT HAPPY WHEN GOVERNMENT UNJUSTLY ENRICHES ITSELF AND THE AMERICAN PUBLIC AT EURASIAN'S EXPENSE!!!! They know because they heard these suggestions months, years ahead on the radio and CSPAN.
Isaiah 10:1 says, "Woe to those who enact unjust statutes." I hope Congressman Mike Conaway or one of his friends are listening BECAUSE THE WOE OF ISAIAH MIGHT HIT HIM AND ALL THESE OTHER CONGRESSMEN WHO ENACT UNJUST STATUTES!!!!
It is wrong to deny a poor inventor ownership of his experimentals, ESPECIALLY IF YOU KNOW THAT HE IS THE FIRST ONE WHO DID IT!!!!! THIS STATUTE THAT YOU DO WHERE YOU REQUIRE AN INVENTOR TO PAY A HUGE SUM OF MONEY TO THE US PATENT OFFICE AND TO PATENT LAWYERS, --BEWARE OF ISAIAH 10:1, "WOE TO YOU WHO MAKE UNJUST STATUTES"!!!!!
You and those lobbyists and the people who hire them might be having fun, planning ways to rob poor inventors off their inventions WITH HUGE FEES WHICH YOU KNOW A POOR INVENTOR CANNOT PAY. INSTEAD OF SUBSIDIZING, YOU IMPOSE HUGE FEES AND REQUIREMENTS??? A day will come when you will be in the cemetery. I hope you will find a way for God to have mercy on your soul. WOE TO YOU WHO ENACT UNJUST STATUTES SAYS ISAIAH 10:1.
Posted by: the-eurasian@earthlink.net at August 21, 2005 09:34 PM
Very interesting and with vertical integration, the possiblities are endless. The combination of a Patel Motel and Dim Sum Restaurant at their service stations would be tough to beat.
Posted by: Wallace-Midland Texas at August 19, 2005 02:27 PM