What happens when the largest exporter of natural gas in Central Asia (and the fourth largest reserves on the planet) declares its open disagreement with the Russia-led natural gas OPEC?  At the very least, it makes for an energy conference of heated diplomacy when heads of state meet in Ashgabat this week, as the Europeans fight for the Nabucco supply route direct to Europe (the word "bypass" is misleading), while the Russians fight for Gazprom's continued total monopoly over the country's exports.We're always impressed with the sophisticated negotiating techniques of the Turkmen leadership, but we've seen them play this game a couple too many times to get very excited about the possibilities for Europe to compete in a normal market in Central Asia alongside the Russians.  ...

Notes from the Investment Underground April 9, 2009 Palermo Viejo, Buenos Aires, Argentina

Why you should invest in pipeline companies… Wither Geither’s stress test results? Congress vs the Treasury… Check out of USA Inc with these four BRIC EFTs… How to survive the “Great Money Famine of 2009”… Three questions for Barney Frank… Congressional panel: Liquidate banks, fire top execs… PPIP FLOP… Geithner’s latest Orwellian manoeuvre… And more!

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US Vice President Dick Cheney will visit the Caucasus to try and promote US interests and counterbalance fears about Russia’s energy dominance in the area. Charting the progress of a Trans-Caspian energy pipeline. “The real cause for concern is that we in the West have made a colossal strategic blunder over energy.” It is thought that Gazprom Neft will be contracted to work on developing Iran’s North Azagedan oil field. Prime Minister Vladimir Putin has secured an agreement to start building a new gas pipeline from Uzbekistan to Russia. The price of crude oil has dropped to its lowest level in five months. Russia says it won’t halt energy supplies to the EU.