Patrick Allitt

How America’s shale gas revolution makes Putin ever weaker

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[/audioplayer]Once or twice every century something good happens to Russia, but then another long night of suffering closes over the great Asian wastes. In 1917, the Russians managed to overthrow their hated Czar and proclaim a democracy. It only lasted a few months before being swept away by a much worse autocracy, which stayed in power until 1991.

The sudden prospect of post-Soviet freedom was accompanied by the promise of long-delayed prosperity, as the liberated nation began to develop its vast resources, one of which was natural gas. For a few years, Putin’s Russia dominated the international natural gas market and earned high prices. Recent developments elsewhere, however, are now shrinking that boom almost as quickly as Putin is stamping out the new freedom.

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