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What About Some Liberal Cuts To Government Spending?

168
Dark_Falcon11/27/2012 8:01:47 pm PST

It seems that fracking for natural gas here in the US is putting pressure on Putin and Russia:

Russia now has yet another reason to be angry at America. The rapid growth of shale gas in the United States has crippled the ability of Russia to overcharge European customers for Russian natural gas. That is because suppliers of liquefied natural gas (delivered by ship anywhere in the world) have lost a lot of American business (to cheaper shale gas) and are shipping their gas to Europe and selling it for less than what the Russians are demanding. Russia long dismissed shale gas (and hydraulic fracturing or “fracking”) as an American fad that would fade. Now Russia has to cope with lost markets because of shale gas. Since oil and gas are Russia’s major exports, this is a serious matter. With less foreign currency available from energy sales, there is less money to import new technology and consumer goods as well as rebuild the military. Older Russians remember how successful American efforts to lower the price of oil in the 1980s helped bankrupt and destroy the Soviet Union.

Bolding mine.

Ending US price controls on gasoline wasn’t seen as a foreign policy action by Reagan, but over time it and other steps taken to cut oil prices did immense damage to the Soviet Union. So fracking may be seen to be “winning one for the Gipper”.