As soon as we turn to China, South Korea, Australia, Japan, it will immediately take away a portion of oil from our European colleagues.
Semyon Vainshtok
We have overfed Europe with crude. And every single economic manual says that excessive supplies depress prices.
europe single
We have overfed Europe with oil. Any economics text book will tell you that when you have an excess of supply, the price will fall.
book fall economics europe price excess oil text
As soon as we turn towards China, South Korea, Australia, Japan, this will take away part of the oil from our European colleagues.
south japan part china oil australia korea
We have overfed Europe with oil. Every economics textbook says that surplus supply lowers prices. But we can't reduce supply -- all our exports are oriented toward Europe.
economics europe oil
south japan china oil australia korea
We have saturated Europe with oil. And as any economics handbook will tell you, excessive supply makes prices fall. But we do not have the means to decrease supply: all our (oil) exports are directed at Europe.
fall economics europe oil
We've completed all the procedures necessary to start construction and are ready to start implementing this huge project, the like of which has never been seen before, on Friday.
start project ready
As of today we have carried out all procedures necessary to start construction, and are ready to start realization of this grand and unique project on Friday.
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