Oil Tycoon Sounds Alarm: No Rush Back to Russia Even With Peace!
"Burned by the Bear: Oil Producers Stay Away!"
In a shocking reveal, US oil magnate Harold Hamm has dropped a bombshell: even if peace breaks out between Russia and Ukraine, American oil companies are not about to jump back into the dangerous Russian waters! These producers have learned the hard way that investing in Russia is a recipe for disaster!
Hamm, the powerhouse behind Continental Resources and a major Trump donor, has seen fellow investors take massive hits over the years. "Many lost a whole lot of money over there. Trust me, they won’t want to go back!" Hamm declared. He didn’t mince words—once in a while, peace breaks out in Russia, but it’s about as rare as a unicorn sighting!
Attention has shifted to recent talks between US and Russian officials, igniting wild speculation that American companies might consider a return if sanctions are lifted. Russian bigwigs are eyeing joint hydrocarbon ventures, especially in the Arctic. “We know there are US oil companies itching to get back into Russia,” chirped Kirill Dmitriev, head of Russia’s sovereign wealth fund, as he cozied up to US delegates in Riyadh!
But despite the allure of untapped riches, ExxonMobil and Chevron—the titans of the industry—are staying silent on the matter. Their silence speaks volumes! Exxon has a long history in Russia but has pulled back hard following sanctions after Russia’s aggressive invasion tactics in Crimea and Ukraine. The pain is real: Exxon wrote off a staggering $3.4 billion just on its Sakhalin-1 project!
And they are not alone in this hurt! BP felt the burn with a jaw-dropping nearly $25 billion write-down, while Shell watched $5 billion vanish into thin air! Insiders are in agreement with Hamm: the geopolitical gamble is just too high!
"Political risks are sky-high," warned expert Tatiana Mitrova. “Sanctions could be flipped back on with a change in US leadership. Why would companies race back into a market where the rules change with the wind?”
Hamm’s voice carries weight—he orchestrated a jaw-dropping $75 million fundraising effort among oil and gas elites for Trump’s campaign! He’s calling for serious decisions about lifting sanctions. “They can be very effective!” he exclaimed, pointing out how impactful secondary sanctions are for everyone involved in trade.
And let’s not forget about Europe! Hamm fired a warning shot: “Europe should learn to stop relying on Russian gas! They’d be silly to go back!” He stressed that US liquefied natural gas is critical for Europe’s energy security, and it’s time for allies to band together!
In the midst of all this, Hamm defended Trump against critics claiming he disregards the rule of law. “Musk is doing a tremendous service,” Hamm argued, brushing aside the noise. He even touted Trump as the "most consequential president in modern history," claiming he executed monumental shifts in mere weeks!
Despite the looming threats of tariffs on Canada and Mexico swirling in the oil industry, Hamm stood firm: tough decisions are needed. “They’re not going to be big factors if they cooperate in the future!" he declared.
As for a potential Trump third term? Hamm simply can’t fathom it! Thank goodness for allies like JD Vance, ready to step up!
Stay tuned, folks. The oil saga continues to unfold, and these power plays could change everything!
photo credit: www.ft.com
