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Dan Dicker

Dan Dicker

Dan Dicker is a 25 year veteran of the New York Mercantile Exchange where he traded crude oil, natural gas, unleaded gasoline and heating oil…

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Go to the Source - How to profit from Gazprom’s Crumbling Hegemony

This week’s newsletter is a fascinating one, where intelligence reports meet head-on with the trader’s report.   If you haven’t read Jen Alic’s piece regarding Cyprus and Russia, go and do it RIGHT NOW, it is one of the few out there with the correct perspective of the entire unfolding situation.

And the point of it is one that everyone else in the media is missing now – the Cyprus bank bailout proposal, the (I think) temporary rejection of the EU plan, the last minute plea from Cyprus to Russia – all of this – is not about money laundering or EU ability to retain this weak sister state.  It is ALL ABOUT PETRODOLLARS. 

That’s because the Levant basin and the fields within it represent a sea change of likely natural gas supply to Europe, no longer consisting solely of Russian gas.  The potential for Leviathan, Tamar and the other producing fields in the Levant basin, owned by Israel and Cyprus, could easily represent 40% of all of Europe’s necessary nat gas demand – yes, 40 – and that’s not counting the oil that likely lies beneath Leviathan, also blowing out projected reserve estimates. 

These have been amazing new finds, but it is only when the geopolitics like this Cyprus bank bailout come to the fore that the seismic shifts of petrodollars and power become apparent.  One thought I had is that the EU was far more willing to anger the Russians and their corrupt depositors in light of the independent gas supply soon to break Gazprom’s hegemony in Europe. …




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