The Great Debate
from Ian Bremmer:
Plummeting oil prices — down more than 25 percent since June to three-year lows — should relieve pressure on consumers at the pump. But is it pushing oil-exporting regimes past the breaking point?
After last week’s gas agreement between Russia, Ukraine and the European Union — which made clear Russia’s energy dominance over Europe — some have asked whether the U.S. could use its gas reserves as a “geopolitical weapon” to “stand up to Russian aggression,” as U.S. Speaker of the House John Boehner said in a statement earlier this year.
It can be hard to find areas of agreement between the presidential candidates on economic or domestic policy. Tuesday night’s debate, though, revealed one exception: energy policy. Alas, what it also revealed is that both President Obama and Governor Romney are making their policies based on a false premise, and they are pandering to Americans’ ignorance instead of telling them the truth.
The gas dispute between Russia and Ukraine that has left hundreds of thousands of Europeans shivering in the winter cold is bound to accelerate plodding European Union efforts to build a common energy policy.