What does this mean to peak oil? It means there is now a HUGE incentive for the EU to learn to live without natural gas and Russian/Caspian oil. And they shouldn't count on Turkish pipeline oil either. So, will the EU step up to the reality of foreign oil and the dangers of buying from an avowed and aggressive enemy (Russia)? One would hope they will start with conservation and then engineer transit solutions which will work in the European climate.
So, now we have the USA invaded Iraq (and going bankrupt), the
Perhaps the Russians had little choice by to seize control of the pipeline just to insure they'll be able to fund their expansionist goals, now that they've made the West very suspicious of investing there. Of course, invasions to control resources aren't going to fly very well for investors either. This invasion will probably put a serious damper on further Western investment in the Russian economy. Bad for the public, bad for business. Bad for Russian goals in the short and long term. You'd think that people who play as much chess as the Russians wouldn't make these kind of knee-jerk mistakes. I wonder if perhaps the short term gain of control of the only intact pipeline will enable them to develop those Siberian fields. I guess we'll see. Meantime, we should all be thinking about the potential threat to market volatility when the Russians start playing with the pipeline like a spoiled 4 year old toying with the kitchen faucet.
Now, will India and China invade some oil resource area since the other big boys have done so? May as well. There's not much moral superiority we in the USA can stand on (Iraq). Ahem.
What do you think? Western analysts like the Washington Post, Chicago Sun-Times, SF Chronicle and even the CS Monitor have taken positions very similar to my own. I expect there are quite a few news organizations very suspicious of the Russian claims and highly doubtful, given their prior history of invasions (Hungary, Finland, Chechnya, Poland, Bulgaria, Czech Republic, Bosnia (invaded by Serbs, another "home rule" ethnic Russian colony)), the Russian Empire looks more and more wicked. We'd best learn how to get along without Russian gas and oil. They're going to do their worst to us.