svetikya Chapter 355 The Heart of Oil
Chapter 355 The Heart of Oil
The chains of the oil embargo continue to tighten around the global economy, and the shadow of recession is spreading across Western countries. Just as traditional giants are scaling back their operations, the Lin family's tentacles are quietly extending in the shadows.
December 10, 1973, Oslo, Norway, the first snow of winter.
In a warm conference room in the government building, Albert shook hands with officials from the Norwegian Ministry of Energy to vote. Outside the window lay the frigid Oslofjord, while inside, a heated agreement was reached.
Given the soaring strategic value of North Sea oil due to the Middle East crisis, Norway has decided to accelerate the development of its domestic oil and gas resources. Norwegian Marine Resources, a company controlled by the Lin family, has been awarded exploration and mining rights for two new blocks surrounding Ekofisk as a "reliable and technologically advanced partner."
A key clause in the agreement stipulated that the company would commit to investing at least 20% of the project's net profits in Norway's shipbuilding, equipment manufacturing, and technology research and development industries over the long term. This commitment earned Albert a reputation as a "responsible investor" and paved the way for deeper cooperation in the future.
Developing new oil fields requires huge sums of money. Albert skillfully played the capital game.
Early the following year, Norwegian Marine Resources listed 30% of its shares on the Oslo Stock Exchange. The offering price was set at 50 Norwegian kroner per share, successfully raising approximately US$4.5 million.
The crisis ignited market enthusiasm for North Sea oil, causing the stock price to soar to 85 kronor in a short period, and the company's market value to expand to US$12.8 billion.
At this point, although the shares held by the Lin family through layers of offshore structures were diluted to 45%, their corresponding market value had reached approximately US$5.76 million.
Compared to the initial investment of approximately $5.2 million in bidding and early development, they not only recouped all costs but also gained a high-value listed platform and continuously producing oilfield assets out of thin air.
In January 1974, the atmosphere on Capitol Hill in Washington, D.C., was somber.
The Strategic Energy Institute for the Americas, a think tank controlled by Alexander, released a major report entitled "Vulnerable Pillars: U.S. Energy Security and Middle East Dependence".
The report, with detailed data and analysis, sharply points out that the U.S. economy is exposed to "unacceptable geopolitical risks" due to its over-reliance on Middle Eastern oil.
The report argues that the cornerstone of national security lies in "energy independence," and that it is imperative to develop indigenous resources, such as the North Slope of Alaska, the deep sea of the Gulf of Mexico, and inland shale formations, on an immediate and large scale.
The report further targets the international oil giants known as the "Seven Sisters," accusing them of intentionally lobbying to obstruct, block technology, or passively treat the development of complex oil fields in the United States in order to maintain their huge profits from cheap crude oil from the Middle East.
The report was excerpted in full by The Wall Street Journal and accompanied by an editorial, causing a huge stir and sparking a major debate across the United States about energy policy.
Unbeknownst to anyone, several of the "independent experts" who wrote the report were receiving "research funding" from Alexander to varying degrees.
The Lin Group, through its complex investment network, had already obtained exploration permits on the North Slope of Alaska and owned a promising deep-sea block in the Gulf of Mexico.
The rhetoric promoting "energy independence" is precisely aimed at increasing the value of these undervalued assets in their hands in the future, driven by favorable policies.
On February 15, 1974, in Riyadh, Saudi Arabia, the royal appointment was issued.
After more than two years of meticulous planning and "precise advice" at crucial moments, Li Ming (Abdul) obtained his long-awaited official position: "International Investment Advisor" at the Saudi Arabian Monetary Authority (i.e., the central bank).
This allowed him to legally access and influence the destination of the kingdom's massive petrodollar revenues, which had suddenly become incredibly wealthy due to soaring oil prices.
On March 5, influenced by an investment strategy memorandum drafted under the direction of Li Ming, the Saudi Monetary Authority made a historic decision: to use approximately $10 billion of new oil revenue to purchase US Treasury bonds in order to maintain core financial ties with the United States; to deposit $8 billion into reputable large European banks to achieve asset diversification and value preservation; and to allocate an additional $2 billion to invest in infrastructure projects in emerging Asian markets in order to find more diversified markets and strategic footholds for future oil exports.
Of the $80 billion in deposits that flowed to Europe, a full $35 billion was ultimately deposited into several long-established private banks in Zurich and Geneva, controlled by Lin through puppets, after various "comprehensive considerations and risk assessments."
Of the $20 billion invested in Asia, $8 million went into the "Asian Development Fund," which was orchestrated behind the scenes by the Lin family.
On the surface, the fund is dedicated to the construction of energy infrastructure in Southeast Asia, with a focus on investing in Singapore’s oil export terminals and Malaysia’s modern oil refineries. On the other hand, it is constantly strengthening the Lin family’s control over key nodes in the Asia-Pacific energy supply chain.
The torrent of money flows along its predetermined course, nourishing the economic landscape along its path while also instilling deeper layers of power and dependency relationships into the soil.