Axis of Oil - Ukraine devoured by democracy
As the old saying goes - "you can't eat domocracy". Here is a little snippet from the Times:
At 10am on Sunday, Russia is threatening to unleash the most powerful weapon in its post-Soviet arsenal: unless Ukraine agrees to a fourfold increase in the price it pays for gas, Russia will simply turn off the tap.
Nor is it just Ukraine under threat — the EU imports about half of its gas from Russia and 80 per cent of that comes through Ukrainian pipelines.
Ukraine, last year, voted in a pro-Western govenment encouraged wholeheartedly by the US and Europe who dangled before the Ukranians big carrots - EU membership and NATO protection. Russia, with 80% of its gas sales to Europe going through Ukrainian pipes and its Southern Fleet based there was none too pleased.
It is all very well having an Orange Revolution but EU and NATO membership does not feed the economy. Cheap gas does and Europe is not going to bail you out.
The same Times article goes on to say:
Within the next ten years, Russia aims to be at the centre of a spider's web of oil and gas pipelines feeding all the major world markets.
So there you have it - a new Cold War is coming. Russia is becoming a new Oil super-power because Iraq failed to become the domain of US oil-power and Iran is proving impossible to isolate.
The next thing to happen is Europe realising that its real interests lie with guaranteed oil supplies from Russia and US isolation will be complete.