April 5, 2013

How the U.S. Blew Up the Global Energy Market

The Fiscal Times, The Fiscal Times


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Late last month, Alexey Miller, CEO of the Russian energy giant Gazprom, dismissed the energy boom occurring in the U.S. right now as a “soap bubble [that] will burst soon” – and said the United States was “not a competitor” to Gazprom.

“Currently, there aren’t any projects that we know of where shale gas production would be profitable,” Miller said. He added that “absolutely all the boreholes” in the U.S. are empty.

In the same article, published by Russia’s state-sponsored outlet Russia Today, Vagit Alekperov, president of Lukoil, another huge Russian energy firm, also dismissed the advancements the...

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TAGGED: Energy

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