Friday, October 20, 2006

 

Russia’s Energy Resource Nationalism

Russia is asserting more and more control over its own energy resources, which is admittedly a smart thing to do in view of the impending demise of the petroleum civilization. For example, EU leaders want a legally binding energy charter with Russia to lock in oil and gas supplies, but Russia is balking. Russia is also using the excuse of environmental damage to hold up Sakhalin-2. And Gazprom has a new go-it-alone policy.

All these things point to a strategy of keeping firm control over one’s own energy resources, and being stingy about letting others have access to them. It won’t take long for this to become a worldwide trend.



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