Russia prepares mega-deal with India after locking up China with “Holy Grail” gas deal

The US government is telling itself fairy tales of “drill baby drill” and “Saudi America,” fancifully imagining that they don’t need Russian oil or gas. Well, Europe needs Russian oil and gas, and the demand met in Europe means lower prices everywhere. Oil is fungible. If Europe is energy starved because of a Russian cut off, energy prices in the USA will be much higher. Now Russia is making deals to sell oil and gas to India and China, after the disgraceful actions in Ukraine by EU and USA. The punishment is coming.

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Last week we reported that while the West was busy alienating Russia in every diplomatic way possible, without of course exposing its crushing overreliance on Russian energy exports to keep European industries alive, Russia was just as busy cementing its ties with China, in this case courtesy of Europe’s most important company, Gazprom, which is preparing to announce the completion of a “holy grail” natural gas supply deal to Beijing. We also noted the following: “And as if pushing Russia into the warm embrace of the world’s most populous nation was not enough, there is also the second most populated country in the world, India.” Today we learn just how prescient this particular comment also was, when Reuters reported that Rosneft, the world’s top listed oil producer by output, may join forces with Indian state-run Oil and Natural Gas Corp to supply oil to India over the long term…

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