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Merry Christmas !
ISSUES....
Inside, confidential and off the record
Time is over !
The results of OPEC meeting taking place today in Luanda, Angola, are to rollback the production to its last meeting, so nothing is change as expected. However, today our friend Dennis Gartman from The Gartman Letter notice that the Venezuelan Oil Minister, Mr. Rafael Ramirez, has decided not to attend the meeting, " illness, or because of a disagreement within OPEC, or because of some other exigency, but it is in fact odd that Mr. Ramirez has chosen not to be there. Venezuela can be counted upon to be one of the more vocal “hawks” within the cartel and the absence of his voice shall be noticeable." The very sharp sense of Dennis is always alert. Ramirez could be sick or something may have come up at the very last minute or another very good reason. We are a little out touch this week, at the moment we are in Phoenix, Arizona, attending one of our sons, university graduation from ASU. Paul, received last friday a B.S. in Mechanical Engineering ( Energy and Environment ). However, we suspect that a Christmas wish may be deliver, after 7 years as Venezuela's Minister of Energy & Oil and PDVSA's president, Lt. Coronel & Venezuela's president Hugo Chavez is to relieve Ramirez of its posts. This is our speculation base on what we hear from the grapevine, we never pay any attention before to similar rumors, but we think the time is come, things need to change, someone has to be held responsible for national energy crisis with every day electricity shortages at large in the whole country.
ISSUES.... 12/22/09
ISSUES.... Inside, confidential and off the record
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