The glut of cheap natural gas coming out of U.S. shale is derailing Gazprom, Russia's energy giant.
Walter Russell Mead at Via Meadia, his blog at The American Interest, notes a Wall Street Journal story that Gazprom has had to negotiate lower prices in its contracts with other nations.
Mead: "Vladimir Putin’s plans for reclaiming Great Power status for Russia are predicated on the country’s continuing strong economic performance, and the energy sector is key.
"Gazprom accounts for more than 10 percent of the country’s exports, and hits to its bottom line this year, the WSJ speculates, will cause Russia to miss Putin’s target of 5 percent annual growth.
"Putin’s hardball tactics in his near-abroad when Russia was energy top dog were instrumental in confirming him as an authoritarian bully in the minds of many Westerners. These tactics also inadvertently made Russia more vulnerable to shifts in the global energy market, with many of its main customers desperately seeking out alternative suppliers so that they would never find themselves backed into a corner again"
Read Mead's full piece here.
Chesapeake Energy Corp,the Oklahoma-based firm is the No. 1 driller in Ohio.
Rig Count Interactive Map by Baker Hughes, an energy services company.
Shale Sheet Fracking, a Youngstown Vindicator blog.
The Ohio Environmental Council, a statewide eco-group based in Columbus.
Earthjustice, a national eco-group.
People's Oil and Gas Collaborative-Ohio, a grass-roots group in Northeast Ohio.
Concerned Citizens of Medina County, a grass-roots group.
No Frack Ohio, a Columbus-based grass-roots group.
Fracking: Gas Drilling's Environmental Threat by ProPublica, an online journalism site.
Pipeline, blog from Pittsburgh Post-Gazette on Marcellus shale drilling.
Allegheny Front, environmental public radio for Western Pennsylvania.