Drill, Baby, Drill

Bloomberg:

Exxon Mobil Corp. applied to the Treasury Department for a waiver from sanctions on Russia in an effort to restart its joint venture with state oil company PAO Rosneft, according to the Wall Street Journal’s Jay Solomon and Bradley Olson.

The firm applied for a waiver to proceed in the Black Sea, according to people familiar with the matter.

And thus the sanctions that The Kenyan Usurper put in place for the actions Russia took in Ukraine are now about to be lifted so that the Russian Usurper can give his BFF Vlad a present. As you may recall Rosneft was privatized last year and the largest stakeholder is Igor Sechin, who is also Putin’s best friend (and rumored to be Putin’s cover in the deal). Selling Rosneft helped to bail Russia out of a budget crisis.

For what it is worth, Exxon is in some sort of use-it-or-lose-it bind with the oil leases in the Black Sea. If they cannot show any proof of effort, they lose the leases.

I usually shy away from international stories, it’s not my wheelhouse, but this one seems pretty straight forward, especially with Secretary of State RExxon Tillerson who might not intentionally influence the outcome.

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One Response to Drill, Baby, Drill

  1. Condi says:

    I am shocked—shocked—to find that drilling is going on in here!

    Liked by 1 person

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