Putin Offers to Help America on Oil

[Scotsman + 14]

So, now Putin has offered to help America with regard to oil prices ... Does anyone see a problem with that?

[Qanoil + 116]

It might actually be worth considering.

Something akin to an International Production Sharing Contract, for lack of a better concept. But let's substitute the word contract with agreement, to calm some ruffled peacock strutting feathers by certain Alpha Male leaders of certain Alpha Male countries..

Give it a thought.  Don't talk about "cartels" and "price fixing" and other BS derogatory labels.  Keep this train of thought in "production sharing" and helping the global economy.

Rather than considering it "bad" for  countries to work together to even out excessive and extreme peaks and valleys in oil production, along with the accompanying excessive peaks and valleys in oil prices, perhaps a first step forward is to calm down political rivalry between oil producing countries, and have a dialogue on an international Production Sharing Agreement.  Lets start with Russia and U.S.

This is not the same as OPEC, since OPEC wants to maximize profits on selling oil from its member countries to a captive world market.  OPEC tries to be (and mostly fails at being) a price fixing cartel.  Ignore them and leave this OPEC wannabe price fixing cartel to their own devices, infighting, and schoolyard fistfighting.

A Production Sharing Agreement that could initially include Russia and the U.S. would be meant not so much for "price fixing" and anti-competitive purposes, but to cool down political relations between 2 major oil & gas exporting countries, and then offer a bit more stability to the global supply and demand situation.

A Production Sharing Agreement could knock off the BS about U.S. trying to stop Nord Stream 2, since U.S. LNG is very certainly not competitive with piped natural gas from Russia.  Perhaps designate zones of primary responsibility for supply oil & gas & LNG to key energy importing countries.

Rather than competing to kill off the other country's oil & gas & LNG production, how about working together toward agreed-upon energy production targets, to help stabilize energy supply and demand.

I'm strictly a Capitalist, and have little use for Socialism or Communism.  This concept of a Production Sharing Agreement is about helping to reduce global uncertainties about global supply & demand for O & G & LNG.  A reduction in energy price shocks would probably be good for global GDP, and maybe cut down on some wars over energy resources as well.

Edited July 18, 2018 by Qanoil

[Marina Schwarz + 1,576]

I'm sure many will see a problem just as they will see a problem in Putin saying "Good morning." Which, of course, does not mean there is an actual problem. I like Quanoil's take on that.

[Sefko Trafikant + 35]

I dare you to search for "idiot" in Google images 

[HermitMunster + 146]

Why not? Don't they already own quite the stake in Citgo?