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Marina and I are flying out to one of our favorite cities tomorrow – Paris. You'll be getting the next Oil & Energy Investor from there.
Paris is one of our main locations to relax and recharge. Over the past several years, it has likewise become a primary site for my meetings with financial and energy trendsetters in an increasingly challenging market environment.
Once again, I find my stay divided. It has become an ongoing personal "tale of two cities."
Upon each arrival, Paris contains what I expect and what has been necessitated by very recent changes in the energy terrain. As veteran Oil & Energy Investor readers well know, these revisions have sometimes occurred while we were in the air.
It's going to be that way again.
White House Moves Are Rearranging Global Energy – and Not in America's Favor
There are a couple of traditions on how Paris obtained the urban epithet "City of Light(s)." One comes from the 17th century and reflected the city's central position in the rise of "The Enlightenment."
Another emerges from the early 18th century and a police request that citizens put a lighted candle or oil lamp in the window, providing more illumination on the streets outside, thereby contributing to a reduction in the crime rate.
But I have always favored a third. It not only nicely provides the image conveyed by the title, but also is an appropriate segue to our main interest here in Oil & Energy Investor – energy.
In 1820, Paris introduced a public gas lighting system created by the engineer Phillipe LeBon. He never lived to see his creation at work. LeBon had been assassinated 16 years earlier on the coronation eve of Napoleon I (i.e., Napoleon Bonaparte). It had been for that occasion that his "thermolampe" had been invented. LeBon's curious murder remains a favorite subject for French crime aficionados (punctuated by a bottle of wine or two).
Now, Paris was not the first to introduce a citywide system of street lamps. London had gained that distinction earlier in the century with a coal gas system following a decree from Parliament. But the unusually beautiful way LeBon's invention lit up Paris streets (providing unusual city landscapes that quickly became labeled "streetscapes") resulted in what commentators considered the greatest urban view of the age.
Today, there are some 300 landmarks within the city limits of Paris decked out each evening in panoramic lights, augmented by spokes of street lamps connecting them and all parts of the city. Anybody flying into Paris at night is presented with a striking image not easily forgotten.
When we arrive Wednesday morning local time, a fair amount of my next two weeks has been thrown into a series of rapid revisions – thanks to what I label "unanticipated consequences" coming from the latest White…
About the Author
Dr. Kent Moors is an internationally recognized expert in oil and natural gas policy, risk assessment, and emerging market economic development. He serves as an advisor to many U.S. governors and foreign governments. Kent details his latest global travels in his free Oil & Energy Investor e-letter. He makes specific investment recommendations in his newsletter, the Energy Advantage. For more active investors, he issues shorter-term trades in his Energy Inner Circle.