"The era of cheap gas is coming to an end, Russia's Prime Minister Vladimir Putin has told ministers from the world's major gas-exporting countries. Mr Putin said the cost of extracting gas was rising sharply, therefore 'the era of cheap energy resources, of cheap gas, is of course coming to an end'."Russia is the world's largest exporter of gas, so Putin's warning carries weight. The good thing is, Bush looked into his eyes and saw a good man. So we have that going for us.
With oil prices tanking, it will be interesting to see how the world's suppliers scramble to make fake quotas, try to drive up price, then navigate around them. Can they all keep tabs on each other? We're talking Algeria, Bolivia, Brunei, Egypt, Indonesia, Iran, Libya, Malaysia, Nigeria, Qatar, Russia, Trinidad and Tobago, the United Arab Emirates and Venezuela.
Me thinks greed will win out.
Source: BBC
No comments:
Post a Comment