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Natural gas price can quadruple as Russia plans to set up a cartel like OPEC in Natural Gas – worldwide recession?
Alan Hersey
Nov. 14, 2006

It is the biggest fear for the Western Europe. It is even a bigger fear for countries like Poland and Romania. They are dependent on Russian natural gas. The economies in US, India and China are also dependent on natural gas more than crude oil. The rise in natural gas price can hurt the world economies beyond any imagination.

Russia is planning to set up a gas cartel. That will include Algeria, Qatar, Libya, the countries of Central Asia and Iran. It can be devastating for Indian and Chinese economies. It can be devasting for the world economic growth if natural gas price quadruple over the next two years.

The biggest problem comes from the fact many countries including developing countries have converted to natural gas using claen fuel technologies. They thought they can get away from the crude oil price control by OPEC. Now they face a new cartel headed by the Russia.


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