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global hegemony

Russia's gas deal with China means US is out of the race

After 10 years of negotiations, Russia's Gazprom and China's CNPC have finally signed an historic natural gas supply deal which will make them partners in post peak-oil industry for the forseeable future. Russia's relatively huge oil and gas reserves [1] have hardly been tapped due to financial depression following post USSR break-up and generally less wasteful exploration policies prior to this. Russia's future is buoyant, compared to the United States, where gas supplies are inadequate to meet the needs of domestic customers, oil peaked in the 1970s and fracking won't deliver anything like what it promised. In cooperation with China, Russia's position alongside China at the gateway to the Arctic, to the Caspian, and the Middle East put it in an remarkable new position.
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