Paris Energy Update: I've Never Seen Anything Like This Before...

Paris Energy Update: I’ve Never Seen Anything Like This Before…

by | published February 3rd, 2017

I’m opening a bottle of decent red, a normal thing one does here in Paris.

Especially after the day I just had…

The meeting with international energy financiers has broken up for dinner and down time. But sitting on a balcony overlooking Avenue Kléber and its late afternoon bustle, I find my mind wandering.

Something is approaching – something I’ve seen before. And it’s causing me to review earlier events in my life. These thoughts are not of the energy market – at least not directly. Rather, the path is back to a time when this city had a different feel.

So stay with me…

The Most Valuable Lesson I’ve Ever Learned

One of the most valuable lessons I have learned is to distinguish between invention and innovation. Invention is coming up with a completely new product, process, or explanation. In contrast, innovation is applying something already existing in a new way.

Actual inventions are rare. Most genuine human advancement has come from innovation. The way that emerges is almost always eclectic. You just never know from where the borrowing will come or where the resulting application will take you.

Innovation is still important in what I do. But in my “earlier life” in intelligence, pursuing that often-frustrating phantom called national security, it literally was a life saver.

I ran into some unusual people in those days. On occasion, they were downright unsavory. That just meant I had to hold my nose and dive in with whatever assets were available.

Leading me to the guy I am thinking about today…

“Jake the Snake” Had a Surprisingly Wise Saying

We called him Jake the Snake and his base was a fake storefront in the commune of Nanterre. We ended up subsidizing its use in return for his services. Nanterre abuts Paris on the west, has some of the highest buildings in the city’s environs, and is home to major international banks and corporations.

However, back then, Nanterre was still a working-class area concentrated around industries that moved there a century ago but had seen better times. The street politics decidedly leaned communist. It was often regarded as the buckle in the “red belt” surrounding Paris.

Now Jake wasn’t his real name, of course, and what he did usually had him traveling elsewhere on the continent. We would pay for that as well, even though there would rarely be receipts provided (enraging bean counters back at the “office”).

On the other hand, the “snake” label certainly did fit. He was slimy and frequented the underbelly of Europe. These were places I could not, should not, or would not go.

My base was London in those days. But that still resulted in frequent hydrofoil rides across the Channel. No “Chunnel” back then for a quick train ride to Calais.

Jake was blunt and often said things for the sheer joy of shocking people. Perhaps it was his way of maintaining control over the situation in which he found himself (often of his own creation).

I put up with him because he was of some benefit. Then, in early 1988, he simply disappeared off the face of the Earth.

Nonetheless, something he once told me has stuck with me ever since…

Paris is Less Fond of America than Ever Before

It was a typical Jake phrase, but I ended up applying it to all manner of operational situations (and these days, to investment opportunities). Consider it verbal innovation (reusing something old in a new way) in the form of “how to look at the world” guidance.

As only Jake could put it: “Unless they find a body, there is no murder. The son of a bitch is just a missing person.” (“Á moins qu’ils ne voient un corps, il n’y a pas de meurtre. Le fils de pute n’est qu’une disparue.”)

I’ve decided to move back inside from the balcony, taking along my computer and the half-full bottle of wine. The weather has grown much colder; with the setting sun, a storm is coming.

Much like what I have been hearing.

Since returning to Paris two days ago, I feel like I’m back some thirty years ago, with storm clouds forming once again. And once again, I find Jake’s colorful caution to be of use.

That’s because the new environment that’s rapidly emerging seems only too familiar…

Frankly, I’ve never experienced as pronounced an un-American attitude, at least in this part of the world.

Sure, the French have always been dismissive, even haughty, when it comes to us Yanks. But nothing like this. And most of these folks populating my sessions are not French.

A stark and continuous refrain permeates just about everything in my meetings. There is clearly a conclusion becoming widely shared that Trump sees allies as unnecessary burdens, preferring to pursue whatever foreign policy emerging as a “go it alone” American endeavor.

Nevertheless, no one can ignore the eight-hundred-pound gorilla in the room…

We’re Entering a New Cold War

The U.S. is still too big and powerful to be completely discounted. Despite this, it is not preventing plans being made to ignore, as one Parisian bank colleague put it this morning, “le enfant gâté résidant à la Maison Blanche” (“the spoiled child living in the White House”).

I expressed the concerted opinion that this group often trends toward overreaction – and even unflattering name-calling – when Washington moves in a direction they don’t like. And anyway, this “going alone” approach is easier to espouse than to accomplish. The U.S. presence remains too large economically and strategically.

That led to silence and an unannounced break for coffee.

This is a group I have advised now for years. They are very global, exceptionally heavy hitting, and expect to get their own way using a thick check book and even thicker political connections.

These exchanges aside, there is something significant coming. Plans are underway for a new global round of mergers and acquisitions (M&A) along with the necessary investment. To the extent possible, it will roll out without the usual American involvement.

Additional matters likely to be discussed over the weekend may oblige that I carry initiatives along for my Frankfurt meetings with the Iranians beginning on February 13.

In other words, welcome to what I believe is a Cold War redux.

The players are not the same, and the opposition includes those who used to be (and on other matters may still be) our friends.

One thing’s for sure… Jake would have relished all of this. In his own brash way, he would have found all too many connections between how we approached the first Cold War and how we will react to this one.

The bottle is now almost empty. One last glass left. Enough to raise in a heartfelt toast:

“Here’s to you, Jake.”

Wherever the other “son of a bitch” finally buried you.

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  1. Randy
    February 3rd, 2017 at 18:21 | #1

    I am not an American. I am amazed any American finds anything here surprising. Conservative or Liberal or whatever makes no difference outside the USA. None of us could ever believe any sane person would actually vote for Trump. Please do not say look at the competition. Most of us were totally unimpressed with Hilary. But Trump is simple to bombastic, unrealistic and insensitive to actually receive votes. This is what we all believed.

    Dont get me wrong – Americans had every right to vote for him and he has every right to take the horns. But we have every right to be absolutely amazed that any American would put him in this position. It matters not where you come from, outside America no one could imagine anyone voting for Trump.

    So you must not be surprised that the rest of us remain very suspicious that he will in act irrationally. So you Americans must re-earn trust that you have not gone over the deep end (or are in the process of doing so). In the meantime as you have the right to put your trust in Trump we have an equal right to question this trust and to reduce our risk by minimizing our own exposure.

  2. Cheryl Whiteley
    February 3rd, 2017 at 18:40 | #2

    Glad USA is still a recognized power.

  3. February 3rd, 2017 at 21:06 | #3

    It is nothing short of amazing that the democrats and their other liberal allies think Islam is a peaceful force in the world while they accuse Trump. Have the democrats and hollywood/sports insiders/elite taken leave of their mental faculties and jeopardize their own families and innocent people around the world with their pig-headed attitudes?

  4. Paul Ellenbogen
    February 3rd, 2017 at 21:37 | #4

    The us/we bailed out the French twice in 2 world wars with our precious blood and money and the Marshall plan plus NATO and most of Western Europe from communism. What have they done for us in return? Please explain what am I missing. They and most our allies r impotent. Personally I am sick to death of decades of the us being taken advantage of. If our one sided allies don’t like tough

  5. Kevin P.Donlon
    February 17th, 2017 at 02:22 | #5

    Thank you for your work. Thank you also for taking the heat for America in your travels. I know it must be difficult. I really appreciate the way you are so inclusive in your writing and storytelling. Even though I voted for President Trump; they have to take his twitter privileges away…lol ! I know America has dirty laundry but let us all remember when any other country has a disaster; USA food, supplies etc. are the first planes or trucks or whatever; we are there. I will never forget the pitiful short list of countries that did anything for us when we needed help after 9/11. I love this place for all its bumps and bruises; and thank God I was fortunate enough to be born here. Thank you
    and God bless.
    Kevin P.Donlon

  6. Kent Baxter
    September 6th, 2018 at 23:43 | #6

    I am not surprised that the French have this take on Trump and America. I for one voted for Trump. I was in Budapest, Hungary the day he was elected. Several people commented that they liked Trump over Hillary. He has made America Great again. Much more needs to be done too. I served during the Carter/Reagan era. I think Trump is doing just fine. Could he do better, yes. We all could. Sometimes you have to shake things up to make them better. Our Government needs this now more than ever. It’s too bad these NATO folks don’t understand that there’s a new Sheriff in town.

  7. Paul
    September 7th, 2018 at 10:30 | #7

    The reason people vote for trump are because of certain political and religious beliefs. For example if you believe partial birth abortions are bad and you feel strongly about that, then you would never vote for Hillary Clinton because she was promoting abortions throughout the world during the Obama administration.

  8. Nuke Waste
    September 10th, 2018 at 23:25 | #8

    @Kent Baxter
    I couldn’t care less what beggars think of us. It isn’t up to America to support the EU’s disasters. Solve your own problems. The only reason that Europe is whining is because we are shutting off the money tap.

  9. Carl
    July 4th, 2019 at 00:49 | #9

    Funny how many americans see history. I suggest reading George Washington’s farewell address,learn what he feared the most then see history from the rest of the worlds perspective. One, we, the USA invaded Korea why? Should they not have they’re own independence from colonialism. As they border China just what kinda Gov’t would any normal person expect them to have?
    Vietnam I’m just glad we lost that one completely! Can’t imagine how grand it would be to have two leaders scared to death of US with nukes. Think for yourselves, think of me as you will but since the way the USA proved we our the only country in the world that can’t be trusted with the bomb, no one has or could threaten our freedoms but our worthless career politicians with their lives which turned US into the murderous bastards of the world. So on this 4th of July don’t think there is any man made up god that blesses the country that’s bombed more countries than the rest of the world combined! History, the worlds, will say 9/11 we deserved what freedom fighters managed against the worlds super power live on TV. Sortof like George cautioned US not to let our leaders make happen!

  10. Wm Bakr
    July 4th, 2019 at 12:44 | #10

    The enemy of my enemy is my friend.

  11. July 4th, 2019 at 16:20 | #11

    Europe adores America. But everyone want to be the first, so i guess people don’t like that first thing. As years pass I hope Europe will adore us once more were American’s will visit
    Europe and Europe will visit America and we will all be greeted and be welcomed with a smile and not a attitude.

  12. July 4th, 2019 at 16:33 | #12

    For decades I have heard people from other countries say to the affect Americans are Ignorant of the World, self obsessed, smug, etc. But I believe that given the reaction to Mr. Trumps election by Europeans, I know now that Europeans are at least as equally ignorant of America and its people as we are alledgedly of them. Indeed, Europeans are displaying the same characterists and attitudes themseves as they have so broadly accused us of for so long.Vraiment.

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