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ISSUES....
Inside, confidential and off the record
Machiavellian
Moving on, we note a picture we saw last week in several newspapers that caught our eye and caused us concern. We know that Mr. Hayward, BP’s President, has been on an around the world tour in recent weeks, hoping obviously to gain access to more investors, to spur support for his beleaguered company and to regain some of his lost stature. However, when we saw him shaking hands with Mr. Igor Sechin, Russia’s Deputy Prime Minister, we flinched. Of all of the men in the world that we fear, we fear Sechin, for he is one supremely tough man, and one of the real powers behind the throne in Russia. Interestingly, besides being a Deputy Prime Minister, Mr. Sechin is the Chairman of the Board of Rosneft [Ed. Note: Rosneft was and is the Russian energy company that took over the assets of Yukos, the energy company once run by Mr. Khodorkovsky. Khodorkovsky was brought to trial and convicted on evidence gathered by Mr. Sechin and his associates. Upon Rosneft’s assumption of Yukos’ assets, Mr. Sechin became Rosneft’s Chairman. He continues in that position.]. . He has been with Mr. Putin all during the latter’s rise to power, although it does not appear that he was with Putin during the former President’s tenure at the KGB. However, Mr. Sechin has been and continues to be associated closely with the “Siloviki,” the organisation close to the government in Moscow comprised mostly of former Russian security agents.
We know that Rosneft and BP have done joint drilling ventures, and so the fact that Mr. Sechin and Mr. Hayward have met in the past and continue to meet presently is not surprising. The fact that it was photographed and made public was. We know, from following Mr. Sechin’s history, that he is more than merely tangentially Machiavellian, and we know further that he is a genius. Genius Machiavellians are fearsome foes.
- Dennis Gartman/ The Gartman Letter / 07/12/ 2010
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ISSUES.... 07/08/2010 / - Send Us Your Issues
ISSUES.... Inside, confidential and off the record
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