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Energy Blast – Sept 4, 2008

As part of an apparent Russian push for African energy resources, Gazprom has signed an oil and gas exploration agreement with the Nigerian National Petroleum Corp. Alaskan governor Sarah Palin says that US reliance on imported oil poses a national security risk. Dick Cheney says the US intends to work with countries in the Caucasus region as a means of developing energy security. “Cheney and Putin deserve each other. At bottom, both men are backward-looking holdovers from the past.” Nuclear services monopoly Atomstroyexport has begun building a new power plant in Bulgaria. Rosneft’s plans to delay the opening of a new field could contribute to an overall decline in Russian oil output this year. Russia will need investment if it is to keep up with growing electricity demand.