Petroleum stockmarkets crash.

[Maelstrom Vortex]

(DENN) Bengaluru - The Sovereign Wealth fund of the Dragon Empire has inexplicably begun a large sell off of its privately held corporate petroleum portfolio, while it retains a large raw commodity reserve of oil, the sell off of companies related to petroleum production is significant and has citizens around the Empire and the world asking questions. Many shareholders of these corporate entities have been angered by the sell off and some hint that the Empire must be up to something that might threaten the value of oil. The speculation has caused the price of oil to drop even further atop the drop caused by the equity dump.

When asked for a statement, the finance minister of the Dragon Empire made this comment, "We are exploring alternative renewable energy sources to such a degree that we feel the continuation of investment in fossil fuels in the long term may actually be detrimental to the value of the fund. The price of oil has peaked, much like its supply. We only see the way down from here for Bob with some nations researching fusion, others focusing on renewable assets, it's only a matter of time before the prices of fossil fuels to come crashing down. We just decided to start that process early. First movers preserve their asset values."

[V The King]

"A wise course of action. The usage of petroleum is a harmful thing of the past era, and we are glad to see the Dragon Empire preparing itself to join nations already using renewable fuels (such as Viniland) in a widespread manner.

Our energy corporations are always available to fund and/or assist with research of alternate fuels."

[Maelstrom Vortex]

"We appreciate the offer. The meeting in Hobart is mostly concluded. The Chairman is likely to be visiting soon." - Anthony Davis noted, at the helm of the State while Maelstrom was busy doing his normal diplomatic thing.

[sir jesus]

The Melvin Republic does NOT acknowledge this transfer from fossil fuels. They are still the most efficient fuel source BY FAR, and will remain so for several decades. There is no evidence to show that oil production has peaked, and there is no evidence that switchingto renewable energy is in the best interest of the national economy.

[king of cochin]

The oil fields in Xinjiang and other provinces of Cochin have many years of exploitation remaining. We currently produce only the bare minimum required for internal consumption.

However we are firm believers that alternate energy sources must be exploited. Any research in such a field will receive the utmost basking from the Kingdom of Cochin.

[Michael McBride]

Xaristan condemns this sell-off as a blatant attempt to crush the economies of other nations who rely on petroleum products for their, and their people's, well-being. Your information that the oil supply has peaked is false. Even today, oil companies in Xaristan are discovering bigger and deeper reserves off our coasts than we ever thought possible previously.

[HHAYD]

Xaristan condemns this sell-off as a blatant attempt to crush the economies of other nations who rely on petroleum products for their, and their people's, well-being. Your information that the oil supply has peaked is false. Even today, oil companies in Xaristan are discovering bigger and deeper reserves off our coasts than we ever thought possible previously.

Same here. About 39% of our export's money comes from oil. We are building oil wells on large newly discovered oil and gas reserves.

Edited July 6, 2009 by HHAYD

[Tahsir]

At this time Dranaggan Ministry of Trade and Natural resources has issued an alert to all Dranaggan stock brokers to sell their shares in oil, plastics, and agriculture.

[HHAYD]

At this time Dranaggan Ministry of Trade and Natural resources has issued an alert to all Dranaggan stock brokers to sell their shares in oil, plastics, and agriculture.

Are you trying to crash the oil industry or what?!

[V The King]

Xaristan condemns this sell-off as a blatant attempt to crush the economies of other nations who rely on petroleum products for their, and their people's, well-being. Your information that the oil supply has peaked is false. Even today, oil companies in Xaristan are discovering bigger and deeper reserves off our coasts than we ever thought possible previously.

"Considering that the Empire is a high-end nation and is more than capable of switching to alternate fuels... it's always nice to have one less nation throwing less toxic waste in our planet's atmosphere. Also considering that there are plenty of emerging nations needing more petroleum, we'd reckon you needn't worry about declining revenue from the resource."

[Michael McBride]

"Considering that the Empire is a high-end nation and is more than capable of switching to alternate fuels... it's always nice to have one less nation throwing less toxic waste in our planet's atmosphere. Also considering that there are plenty of emerging nations needing more petroleum, we'd reckon you needn't worry about declining revenue from the resource."

There are more productive ways to pull yourself out of the oil market than to completely crash it in the process. While we have no qualms about researching alternative fuel sources, Xaristan National Oil is the leader in that field in our nation, this move shows recklessness and no foresight by the Dragon Empire. They are not the only ones who occupy this world. Whether they continue to need oil or not, it doesn't matter. What does matter are the lives of almost thirty million people in our country and the countless others across the world who they have put in danger with this callous act.

[HHAYD]

"Considering that the Empire is a high-end nation and is more than capable of switching to alternate fuels... it's always nice to have one less nation throwing less toxic waste in our planet's atmosphere. Also considering that there are plenty of emerging nations needing more petroleum, we'd reckon you needn't worry about declining revenue from the resource."

Even if they wanted to switch to alternate fuel, there is no need to add insult to oil exporting nations by crashing the oil industry.

[king of cochin]

The Department of Natural Resources has been ordered to buy up petroleum barrels in huge quantities as they come at lower prices in commodity markets.

Since we do not trade our petroleum outside the nation we are not greatly affected by the global price crash.

[V The King]

There are more productive ways to pull yourself out of the oil market than to completely crash it in the process. While we have no qualms about researching alternative fuel sources, Xaristan National Oil is the leader in that field in our nation, this move shows recklessness and no foresight by the Dragon Empire. They are not the only ones who occupy this world. Whether they continue to need oil or not, it doesn't matter. What does matter are the lives of almost thirty million people in our country and the countless others across the world who they have put in danger with this callous act.

"The Empire may be the largest economy in the world, but it is not like they account for that large of a chunk of it. Sure, the move will very likely cause a worrying decline on the price of oil, but once demand increases as a result of the cheaper barrels and the unsustainable surplus is bought out (may take a few months, up to maybe a year or two), the market will go back to normal. Hey, it might recover even faster if oil-producing nations cut their production.

Or even, let your industries take the opportunity of a low oil price and let them boom. Or let your oil consumers enjoy their extra surplus."

[Michael McBride]

"The Empire may be the largest economy in the world, but it is not like they account for that large of a chunk of it. Sure, the move will very likely cause a worrying decline on the price of oil, but once demand increases as a result of the cheaper barrels and the unsustainable surplus is bought out (may take a few months, up to maybe a year or two), the market will go back to normal. Hey, it might recover even faster if oil-producing nations cut their production.

Or even, let your industries take the opportunity of a low oil price and let them boom. Or let your oil consumers enjoy their extra surplus."

You seem to have a worrying lack of economic knowledge. Industry in Xaristan already gets their oil heavily discounted due to subsidies from the government. However, oil is our largest export, and makes up a majority of our economy. A drop in the price of oil per barrel, especially a crash such as this, threatens health care, schools, our people's daily lives. This is not worrying about our profit margin, this is worrying about our people's quality of life.

[HHAYD]

"The Empire may be the largest economy in the world, but it is not like they account for that large of a chunk of it. Sure, the move will very likely cause a worrying decline on the price of oil, but once demand increases as a result of the cheaper barrels and the unsustainable surplus is bought out (may take a few months, up to maybe a year or two), the market will go back to normal. Hey, it might recover even faster if oil-producing nations cut their production.

Or even, let your industries take the opportunity of a low oil price and let them boom. Or let your oil consumers enjoy their extra surplus."

Are you out of your mind?! You crashed the oil industry by decreasing the price of it dangerously, which then affects all of the oil exporting nations' oil companies, and then those oil companies will start laying off workers and reducing their wages. I think you get the point what happens next when unemployment increases and the average salary drops rapidly.

Besides, we don't use much of our own oil since most of our power supply comes nuclear, wind, and solar.

Go take an economic class before you crash the global economy further with your ignorance.

Edited July 6, 2009 by HHAYD

[Maelstrom Vortex]

"The oil sell-off has been long in coming since we introduced tri-source fueled vehicles several years ago. We have cars that run here on a combination of electric hydrogen fuel cells, solar power, and bio diesel which can also burn some grades of petroleum in multi-source complex hybrid designs. We've applied this technology to car, train, and are working on ways of alternatively powering aircraft, but right now they're the biggest hang up so far in transportation fuel consumption sources."

"Those who argue oil is still cheaper.. well.. I just have to say this. When the money is being spent internally to the nation to meet its needs, the expense doesn't matter. If you pay more for it, the funds simply pass into the hands of the citizens and improves the economy by increasing wages and accelerating the economic cycle. Exports may fall slightly, but with the cheap labor provided by our population the change from petrol to alternatives is not expected to vastly impact prices of goods produced domestically."

[V The King]

You seem to have a worrying lack of economic knowledge. Industry in Xaristan already gets their oil heavily discounted due to subsidies from the government. However, oil is our largest export, and makes up a majority of our economy. A drop in the price of oil per barrel, especially a crash such as this, threatens health care, schools, our people's daily lives. This is not worrying about our profit margin, this is worrying about our people's quality of life.

"Then it's most definitively time to start diversifying. Hell if we would know that oil would compose the majority of the economy of a country located in the Florida Peninsula."

[Michael McBride]

"The oil sell-off has been long in coming since we introduced tri-source fueled vehicles several years ago. We have cars that run here on a combination of electric hydrogen fuel cells, solar power, and bio diesel which can also burn some grades of petroleum in multi-source complex hybrid designs. We've applied this technology to car, train, and are working on ways of alternatively powering aircraft, but right now they're the biggest hang up so far in transportation fuel consumption sources."

"Those who argue oil is still cheaper.. well.. I just have to say this. When the money is being spent internally to the nation to meet its needs, the expense doesn't matter. If you pay more for it, the funds simply pass into the hands of the citizens and improves the economy by increasing wages and accelerating the economic cycle. Exports may fall slightly, but with the cheap labor provided by our population the change from petrol to alternatives is not expected to vastly impact prices of goods produced domestically."

Typical. The Dragon Empire takes steps to ruin the economies of many nations in the world and then does not even address legitimate concerns raised by those nations.

[HHAYD]

"The oil sell-off has been long in coming since we introduced tri-source fueled vehicles several years ago. We have cars that run here on a combination of electric hydrogen fuel cells, solar power, and bio diesel which can also burn some grades of petroleum in multi-source complex hybrid designs. We've applied this technology to car, train, and are working on ways of alternatively powering aircraft, but right now they're the biggest hang up so far in transportation fuel consumption sources."

"Those who argue oil is still cheaper.. well.. I just have to say this. When the money is being spent internally to the nation to meet its needs, the expense doesn't matter. If you pay more for it, the funds simply pass into the hands of the citizens and improves the economy by increasing wages and accelerating the economic cycle. Exports may fall slightly, but with the cheap labor provided by our population the change from petrol to alternatives is not expected to vastly impact prices of goods produced domestically."

We understood that your nation was reducing the amount of oil usage over time, but many oil companies were not prepared for a sudden and steep drop in oil price. There was no need to add insult to oil exporting companies and crash the oil industry that was not prepared for crisis.

Edited July 6, 2009 by HHAYD

[Maelstrom Vortex]

"Understood. But at the same time we have to protect state assets. We're going to be working with a few petrol companies who have come forward to us claiming that they are diversifying their energy portfolios as we believe they are more likely to withstand the test of time. However, we will not be looking to re-acquire any pure fossil fuel entities. Those entities have not waken up to the signs of the times."

[HHAYD]

"Understood. But at the same time we have to protect state assets. We're going to be working with a few petrol companies who have come forward to us claiming that they are diversifying their energy portfolios as we believe they are more likely to withstand the test of time. However, we will not be looking to re-acquire any pure fossil fuel entities. Those entities have not waken up to the signs of the times."

We already know that, but what is the exact purpose of crashing the oil price other than insulting oil exporting nations?

[king of cochin]

Petroleum resources are a finite quantity and any nation desirous of maintaining prosperity for its citizens will have to look ahead and not depend purely on the current exigencies. It is only inevitable that nations should start to reduce their petroleum consumption.

[Tahsir]

Are you trying to crash the oil industry or what?!

The Republic of Dranagg feels that within as little as two to three years the price of several alternative energy sources will be so low as to render drilling obsolete, and that the price for these sources will continue to drop steadily for decades.

[HHAYD]

Petroleum resources are a finite quantity and any nation desirous of maintaining prosperity for its citizens will have to look ahead and not depend purely on the current exigencies. It is only inevitable that nations should start to reduce their petroleum consumption.

We know that, but you seemed to want to destroy the oil industry when many oil companies aren't prepared. For example:

A person needs to get to the first floor from the 25th floor and has two choices.

A: Walk down the stairs.

B: Jump off the building from the 25th floor.

You tell us which choice is better.

Edited July 6, 2009 by HHAYD