The anger playing out at gasoline pumps throughout the land, the panic and pandering in the halls of governments worldwide, and the sky-is-falling scenarios in the world's media are not trends that will fade away by this time next year. It is a tipping point. Everywhere you turn, people are getting cranky about energy and their voices are getting louder. I've not seen anything like this in my 25 years of watching the energy industry. Political ultimatums. Government expropriation. Deal rollbacks. Backpedaling. Some observers predict the emerging fight over resources will be the new Cold War. In May, Dick Cheney warned Russia about using its Gazprom hole card against Europe, and asked Kazakhstan to reroute its oil pipelines that will feed the West, to avoid Russian territory. For more on this, see the June issue of Oil and Gas Investor. For a subscription, call 713-260-6441.
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