The cleverly titled Wall Street Journal column, “Gazprom Drills Deeper Into Europe,†explains how the Russian energy giant (Gazprom) is invading Western retail energy markets. While Russian bombers and warships conduct war exercises in the Atlantic, the real 2008 Russian Winter Offensive is along economic lines. Not only has Russia protected itself financially, with bolstered currency reserves, we also find that Russian grain production is up. Here the Kremlin’s watchword is self-sufficiency. If global financial collapse occurs, the Russian people will survive. In fact, Russia sees opportunity as currencies devalue and markets fall. If we look at rising food costs in Russia, there is reason to suspect the Russian government is stockpiling grain.
By J.R. Nyquist
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