Whats the deal with that Russian gas pipeline shocker that nobody seems to be reporting on in any depth? Well, its a very, very big deal, in fact, and heres the most informed analysis Ive come across. Heres a taste: South Stream would take years to build and its cancellation therefore has no bearing on the current Ukrainian crisis. The Russians decided they could afford to cancel it is because they have decided Russia’s future is in selling its energy to China and Turkey and other states in Asia (more gas deals are pending with Korea and Japan and possibly also with Pakistan and India) than to Europe. Given that this is so, for Russia South Stream has lost its point. That is why in their characteristically direct way, rather than accept the Europeans’ conditions, the Russians pulled the plug on it. In doing so the Russians have called the Europeans’ bluff. So far from Russia being dependent on Europe as its energy customer, it is Europe which has antagonised, probably irreparably, its key economic partner and energy supplier. The future is happening right now, folks, right in front of or eyes, and the Washington establishment is sleep-walking ...
Posted on: Thu, 04 Dec 2014 05:05:03 +0000
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