Tuesday, July 11, 2006

Putin’s nationalization

* soto:
"It now turns out that despite Shooter’s (Cheney) lecturing, the Russian people, by large majorities, support Putin’s nationalization of the oil and gas industry, correctly seeing that criminals and foreign oil companies were likely to plunder Russia’s reserves and take the money and run, leaving Russians with nothing. As a result, Cheney will not be getting his hand on Russian reserves anytime soon, and China and Russia will be working together without the West to serve each other’s needs: China will get Russia’s oil and gas and pay for it through their trade surplus with us. Bush and Cheney’s trade policies and deficit financing are bankrolling the strengthening of both China and Russia, and may leave Russian supplies out of our reach as well.
The naked grab for oil by this White House combined with dwindling new sources and supplies has prodded more and more governments to look at protecting their reserves and the profits from those reserves from Big Oil. A wave of resource nationalization across the globe would be a natural counterpoint to the free market plunder and rape of resource-rich countries by Big Oil, and represent a large nightmare to those companies. Whether we are talking about Hugo Chavez, Vladimir Putin, or Bolivia’s Evo Morales, after decades of seeing international energy companies topple governments and force the wholesale sell-off of national assets through IMF and World Bank “reforms”, more and more countries now see that they may have the leverage to dictate their own futures as a result of the higher prices that the Bush energy policy has created."

* new lamont ad. (vid)

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