Chapter 339
October 30th, 2023, 09:00
The South State, Seoul, Jongro-ku, the Blue House (the Sejong Hall)
At 2:00 am, the OAPEC (Organization of Arab Petroleum Exporting Countries) made its announcement about the decisions that would lead to the world’s third oil shock. The Blue House called for a cabinet meeting in the morning when they heard the announcement.
“As you are all aware, this morning, the OAPEC (Organization of Arab Petroleum Exporting Countries) under the Arab League’s lead will increase the price of petroleum and decrease production. They are claiming our government’s actions are oppressing the Islamic religion and placed the blame on us in front of the rest of the world. We must come up with a solution for this matter, so if you have any opinions, please suggest them freely. Before we do, let’s go over the status of other nations across the world,” President Choo Un-hee opened the meeting.
Deputy minister of foreign affairs, Oh Jin-myung, who was attending the meeting in place of Minister Kang Kyung-hee, answered her, “Yes, Madam President! After the announcement, stock markets across the world have crashed, and many nations have already contacted us. The EU (European Union) is the most concerned about the oil-shock.”
When Corea had beaten the two G2 nations during the East Asian War, the EU decided to unify not only economically and politically, but also militarily as well to become one federal nation.
The EU consisted mostly of first-world nations, and since they concluded the third oil shock would hit them the hardest, it was one of the first nations to contact Corea’s Ministry of Foreign Affairs about its future direction.
“I suppose they would. The European nations were always the nations that were affected most by the oil-shock.”
“Yes, that is why the EU’s Ministry of Foreign Affairs has requested our nation to withdraw its military and resolve the matter peacefully.”
“What about the other nations?”
“Yes, they are on the same page as the EU. ‘Please withdraw from the Middle East...,'” Deputy Minister Oh Jin-myung trailed off, and Minister Kim Young-chul from the Ministry of Unification Policies responded angrily.
“Do this and that! Isn’t this a clear intervention in our nation’s politics?”
“Exactly. Political intervention is one thing, but I don’t know why we are so involved in the Republic of Kurdistan’s independence. How about we pull out now?” Minister of economy and finance Park Byung-gwan, who had opposed the support of Kurdistan from the start, expressed his opinion.
“Pull out? How could you say that despite knowing the significance behind Kurdistan’s independence?” Minister of education Kim Gil-jin, who had been actively supporting Kurdistan’s independence, spoke with a flabbergasted look on his face to Minister Park Byung-gwan.
“Ha ha, god, of course, I am aware. However, do you realize how much of our nation’s taxes were spent on a nation that has no relation to ours? It’s over 5 billion dollars. On top of that, we are on the verge of being the nation that sets the world spiraling down a recession.”
“Both of you, calm down. There can always be a difference in opinions. That is why we have gathered here to come up with a solution, haven’t we?” When the meeting became heated, Prime Minister Lee Youn-yeon interjected.
“Yes. I think everyone should hear my suggestion before coming to a decision,” minister of trade and industry Go Gyung-taek, who seemed to be tired, spoke up.
President Choo Un-hee asked with a hopeful look on her face, “Do you have a good idea?”
“Yes, Madam President! To be honest, it’s not like we didn’t expect this. That is why our department has prepared a few solutions. I would like to explain while everyone watches the footage I have prepared.”
Minister Go Gyung-taek walked up to the large screen in the middle of the room. A map of the entire nation showed up once the screen lit up.
“I would like everyone to look at the seven marked locations on the map. Some of you may already be aware, but these locations are the ones that have the potential for oil production. We have now analyzed the exact amount of petroleum buried there and there’s a significant amount for mass production.”
The map on the screen showed the North State’s Onchon Basin, Ahn-ju Basin, Pyeong-yang Basin, Gil-joo Basin, the west coast’s West Josun Basin, East Sea’s Kyung-sung Basin and East Josun Basin, and the Baekdu Mountain Basin.
“There is a total of 120 billion barrels buried in these seven locations. On a global scale, it ranks 7th. However, our nation has mostly transitioned to plasma engines and power systems instead of gasoline ones, so our domestic demand for petroleum is low, and the CNOC (Corea National Oil Corporation) is drilling at the Onchon and Ahn-ju Basins to meet our domestic demand.”
As Minister Go Gyung-taek explained, the two places were highlighted on the map.
“Our nation’s automotive industry has now mostly transitioned into the plasma system, and we will be unaffected by the oil shock despite the demand being 100 million or 200 million barrels, won’t we?” Minister of government administration Kim Yi-kyeom asked a question.
“Yes, that’s right. 100 million barrels per year would be enough for our nation. The demand will decrease over time as well. However, the thing I wanted to talk about was not how our nation will respond to the oil shock, but how we can sell the unused petroleum for the other non-producing nations.”
Corea had consumed about 2.8 million barrels per day before the plasma system was introduced, and the consumption would be about 10 billion barrels per year, placing them 8th in the world. Corea was a nation that was highly dependent on petroleum.
“If we maximize the production of the seven oil reserves, then we could produce 4 million barrels per day. After we cooperate with Venezuela to increase daily production from 2.5 million barrels to 8 million per day and provide the petroleum to the other nations at a 10% discount, then I believe we can stave off the third oil shock.”
“Isn’t it a matter of time before we run out? Our reserves aren’t infinite, and can Venezuela handle producing 8 million barrels? I’m sure it will take a while to build the additional production facilities, won’t it?”
When Minister Kim Yi-gyeom asked another question, Minister Go Gyung-taek nodded and gave additional explanations, “Yes, those are valid points. Unless we build additional production facilities for drilling, then we will only be able to produce 12 billion barrels at best. It will also take 1-2 years to build additional production facilities in Venezuela. Through our internal investigation, the nation is capable of producing 8 million barrels in a short period.”
Minister Go Gyung-taek smiled and continued after he answered Minister Kim Yi-gyeom’s questions. “That is why this third oil shock issue must be dealt with as soon as possible. It’s a race against time. As I have said, the first thing we need to do is increase our production in a short period to provide petroleum to other nations. Then, we must increase production from Venezuela and that will allow us to replace at least 20% of the world’s production for three months out of the 48% the Middle East currently holds.”
The other ministers started to warm up to Minister Go Gyung-taek’s presentation and focused on him.
“During the first and second oil shocks, the importing nations had to buy petroleum at high prices. It’s because they had no choice. However, if our nation and Venezuela provided petroleum at a low price while maximizing production and make an announcement about how the two nations will make joint investments for more production facilities to increase the supply to 15 million barrels per day, then the Middle Eastern countries will falter. In three months, they will be the ones experiencing an economic recession and eventually give up.”
Clap clap clap!
When Minister Go Gyung-taek finished his presentation, the president applauded him. The other ministers joined in as well.
“Minister Go! When did you prepare all these?” President Choo Un-hee could not hold back her amazement at the plans Minister Go had made and praised him.
“Yes. It’s as if Minister Go has washed away our troubles, Madam President!”
Praises for Minister Go continued.
“Ha ha, it’s nothing. I studied the subject when I was a professor, and when I heard the news Iran had called for a meeting with the Arab League, I called for the researchers and staff within our departments to come up with a solution together.”
Minister Go Gyung-taek returned to his seat.
“Still, that was amazing. Since we have come up with a solution, I would like the other departments to come up with a roadmap to carry out the plan,” President Choo Un-hee said with a pleased look on her face.
“Yes, we will bring in a thorough report within today. I will speak to the related departments.”
<hr />
October 30th, 2023, 13:00
The South State, Seoul, Kangnam-ku, the NIS headquarters (Foreign Intelligence Unit 1)
“Ah! There’s no place like home!”
Team Leader Park Gi-oong had brought Director Ruslan Nigmatulin of the Middle East branch of the SVR back to Corea this morning. He had stretched in his chair and came into the office in the afternoon after taking the morning off.
“So what, sir? We did all of that work in the Middle East and we still have to come to work in the afternoon. Shouldn’t they give us at least a week off?” Chief Jo Dong-hyun from Team 1 complained with a pouting lip.
“Hey! How could you talk about leave right now? The other departments are in chaos about that assassination attempt on the president, and there’s a DEFCON 2 in effect,” Assistant Manager Ahn Ki-chul, who was sitting on the other side, answered him.
“Guys! Just wait a bit. I’m sure they will give us a month-long leave once the time is right,” Team Leader Park Gi-oong smiled and spoke to Chief Jo Dong-hyung who had been complaining.
“Really, sir? You promise?”
“Have you been lied to your whole life? If I can’t keep my promise, I will resign.”
“What!”
It was right after lunch when everyone was getting drowsy and having small talks, one of the women from the NIS came into the office.
Team Leader Park Gi-oong stood up and greeted her, “Oh? Assistant manager, hello. What brings you here?”
The woman was Assistant Manager Lee Hye-jin from anti-terrorism Unit 3 and Namgoong-won’s wife.
“Hello. Is Manager Lee in?”
“Ah! Manager Lee is not here. He is at the director’s office about the mission we did in the Middle East.”
“Ah! Is that so? I heard he came back so I wanted to say hi. I guess I’ll have to wait.”
“Ah! Yes, please take a seat. Would you like some coffee?”
“No. I’m fine, thank you.”
Assistant Manager Lee Hye-jin decided to say hi to her husband’s friend, Manager Lee Ja-sung, and catch him up on how her husband was doing.
When Assistant Manager Lee Hye-jin, a good-looking superior from another department, was sitting in the office, the atmosphere changed a bit. That was when she spoke to Team Leader Park Gi-oong.
“Oh, right! Team Leader Park!”
“Yes, ma’am!”
“Haven’t you been searching for North Korea’s intelligence unit 1’s agents?”
“What! How did you?”
“According to our agents operating within the New Republic of China, a few suspicious men who seem to be from North Korea’s foreign intelligence agency have crossed through to West Manchuria. So, our department is chasing after them since they could be suspected terrorists.”
“Is, is that true?”
“Yes, I can’t guarantee 100% that they are the men you are after, but we are sure they are from North Korea’s foreign intelligence agency.”
“Could you share the intel with our department?”
“Hmm, how about making an official request through the director?”
“Ah! Yes, thank you. Thank you very much.”
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