Oil News Roundup
May 16, 2006
Crude-oil prices tumbled nearly 4% Monday to less than $70 a barrel on the New York Mercantile Exchange, partly due to worries that a stronger yuan will slow China's runaway growth and oil consumption. Here is today's well of news about oil and energy.
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PUTTING OFF THE BIG THREE: For the moment, energy concerns have taken a back seat to immigration concerns at the White House, Washington Wire reports; President Bush delayed a meeting with the Big Three auto makers until June 2 to give him time to push his immigration plan this week. Executives from General Motors, Ford and DaimlerChrysler want to ask Mr. Bush for government help in making cars that run on ethanol and other biofuels. They still plan to take their case to Capitol Hill this week.
Gas Prices Still Rise: The average U.S. retail price of gasoline rose four cents last week to $2.95 a gallon, the Energy Information Administration said — up 78.4 cents from a year ago.
Rosneft's Reserves: Russian state oil company OAO Rosneft said its proven reserves of oil and natural gas rose 18% last year to 18.94 billion barrels of oil equivalent, giving it Russia's third-largest pool of reserves, after those of OAO Gazprom and OAO Lukoil. Exxon Mobil's reserves — measured under stricter standards — are the biggest in the world, but the Russian trio is close on its heels.
The Nationalism Paradigm: Royal Dutch Shell CEO Jeroen van der Veer told the Financial Times that the burgeoning nationalism of Venezuela, Bolivia, Russia and other oil-rich nations is an unavoidable “new reality” (subscription to FT.com required).
International Relations: The U.S. announced it will restore full diplomatic relations with Libya, clearing the way for broader economic ties with the oil exporter. The State Department later announced it would crack down on another oil-producing nation, banning arms sales to Venezuela.
Nascar on Moonshine: Stock-car racing circuit Nascar should switch to ethanol, as GM officials, lawmakers and others have long urged, writes AP sportswriter Chris Jenkins. The move could popularize ethanol consumption, but is not without risks, he writes. “There's only one reason for Nascar to be wary of ethanol: Keeping folks in the infield from trying to chug the leftovers.”
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
