Semyon Vainshtok
Semyon Vainshtok
decrease directed economics economy-and-economics europe excessive exports handbook means prices supply
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.
european oil portion soon south turn
As soon as we turn to China, South Korea, Australia, Japan, it will immediately take away a portion of oil from our European colleagues.
economics europe exports oriented reduce says supply surplus textbook toward
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.
completed huge necessary procedures ready seen start
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.