He who keeps the keys to heaven rules the world. And so the legend says.... Russia has the world’s largest reserves. Iran is trailing behind at number two. And Qatar is number three. These countries have dominated the world natural gas market for years. Among them, Russia, Iran and Qatar control 60% of the world’s natural gas reserves. That’s a market dominance they’re not prepared to give up. So what do you do when you have the corner on a critical commodity market but you’re facing an incredibly disruptive threat like fracking? A technology that has the potential to open up gas to a globalized, free-trading, fungible market? If you’re a trio of insecure, bullying, regionally ambitious illiberal regimes whose futures rely on keeping gas supplies constrained, well, you team up to stop it. And that’s exactly what Iran, Russia, and Qatar are doing. Lead by the top-dog President Vladimir V. Putin, they want to create an OPEC for gas. This is the other future of natural gas, the non-fracking future. The illiberal, undemocratic bullies of the world carving up the globe into spheres of influence, constricting supply to raise prices, colluding to use gas as a political weapon. Welcome to the era of gas. And he who control energy rules the world!
Posted on: Fri, 23 May 2014 02:46:47 +0000
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