Global Energy Woes Spark Russian Resurgence

As oil prices climbed in 2006 and burgeoning global powers China and India emerged as major energy consumers, one country above all others appeared poised to profit — Russia.

“The wrong message of 2006 was that an energy catastrophe is approaching. The right message is that we have big problems, but it is not true that we are running out of energy in just five or 10 years.”