Pravda: US shale gas to strike devastating blow on Russia’s Gazprom
The Pravda headline alone is a very good reason to vote Romney, a signal from an antagonist Russia that its oil and gas industry is benefiting from America’s self-constraint from the markets.
Senior research officer of the Peterson Institute for International Economics, Anders Aslund, who became known for his calls to exclude Russia from the Group of Eight, said that the “shale revolution” in the U.S. may bring world gas prices down. This will strike a devastating blow on Russia’s Gazprom. Today, U.S. gas prices are four times less than those of Gazprom. [Emphasis mine.]
President Obama has fought tooth and nail against all things oil and gas shale development in America – including opposing a Canadian pipeline to carry the product of Canadian shale development to the American markets. It’s enough to leave one wondering if our nuclear stance against North Korea was all that was on the table in Obama’s hot-mic pleading to Russian President Dmitry Medvedev for flexibility because, “It’s my last election. I’ll have more flexibility after my election.”
Obama will also have a lot less value to the Russians after the American voting public sends him and his Russian flexibility packing. Less flexibility, more spine.