Now Russia has become a major controller of oil supplies along with Saudi Arabia and surprisingly Canada. The world economies have been built up much more now than in the first Oil Shock in 1973. A similar political event today would be devastating to an industrialized nation. While talk of increasing use of renewable resources is printed in the headlines the truth is that the world economy will depend on oil for decades into the future. Russia’s successful Oil Drive has provided a strong political weapon for a country in desperate need of renewed strength. Saudi Arabia has used their political oil clout very softly over the years. The Russian style of politics is much more direct and in your face though. Europe has already felt not only one but two extra cold winters due to Russian politics cutting off natural gas supplies. Russia has also already worked with OPEC to reduce world oil supply and has openly talked of joining OPEC in some form in the future. Russia is ready, willing and able to use oil and energy supplies in world politics.
Russia has ensured a strong political future around the world with a fantastically successful oil drive. The Soviet Union may have collapsed but Russia is renewing it’s world power status for the foreseeable future.