Wednesday, September 27, 2006

[oil&gas] a little disingenuous from the west

"Energy security" in the form of long-term supply contracts cuts both ways now that Russia has changed the rules so that suppliers as well as consumers enjoy security. This is the glittering jewel in Russia's crown, but its beauty may be lost on Western consumers used to calling the shots. - W. Joseph Stroupe [Asia Times]. On the other hand, how can you blame Russia? If Britain struck a virtually limitless seam in the North Sea and could call the shots on price, would it not do that? Wouldn't it be its bounden duty to its citizens to do that? And the US, say in the Gulf of Mexico? Can you say the US wouldn't play hardball, that it would play Mr. Altruistic? This is infrastructure which we're talking here. I find it quite hypocritical to hear complaints about Russia maximizing its advantage to the edge. And the difference is - here there's not a lot else to fall back on.

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