Oil's New Ball Game
Dr. Bill Belew
Issue III - June 22, 2006
Introduction by Mr. Stolyarov:
Today the oil market is much more restricted than it used to be, because
governments own the vast majority of the world's oil -- which puts those
governments' private partners in constant danger of expropriation and
political attacks. This artificial government-imposed scarcity of oil is
a reason Dr. Belew sees for exploring alternative energy sources --
especially nuclear energy -- to overcome the barriers foreign
governments erect against private oil extraction.
In the 1960s, 85% of the oil in the world was available for
ownership, development, partnerships, and such. At the time, 14% of the
oil reserves belonged to the Soviet Union.
Today it is the reverse of that: 16% of the world's oil is available.
65% is owned by the nations that possess the fields and 19% has limited
access -- that is, nations, including Russia, will allow others to
invest in and partially own their oil fields.
It's different now. And, shall we not forget there are some nations
that will allow investment and development and then, when all is said
and done, kick out the major investor?
The rules are different than they were 40 years ago.
Question: when will the world become less dependent on oil? How about
nuclear power again?
Nearly 80% of the energy in France comes from nuclear power. I reckon
the French don't care at all what the rest of the world does with its
Why can't other countries do that? Why not the US?
What do you think?
Dr. Bill Belew is a former Intelligence
Officer for a Destroyer Squadron. He lived 20 years in Japan, where he
started a language school for Japanese
Dr. Belew teaches classes for a vocational school and online for a
See Dr. Belew's blog,
for news and discussions about business and current events in Russia and
for Dr. Belew's reports on business in China,
on business in Japan, and
TheBizofKnowledge on business education.
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