Putin’s Iran Visit: Natural Gas Cartel?

The affordable “clean” energy source of the future, most likely to replace crude oil and coal, is natural gas. Energy prices and technological advances are even making it possible to cost-effectively “freeze” and transport natural gas, much like crude oil, in specialized shipping vessels to customers the world over. What should evolve from Russian President Vladimir Putin’s upcoming visit, more important than discussions on the manner of distribution of the natural resources of the Caspian Sea or the evolution of Iran’s nuclear program and Russian assistance therein, is an economic pact (perhaps warranting the inclusion of the government of Qatar, as well) creating a natural gas cartel between at least two countries controlling close to a combined 50% (if not more) of the world’s known natural gas reserves. Only this arrangement will protect both producer nations from ruinous competition, and assure them a high and stable revenue flow to meet the growing needs and demands of their people.

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