Putin's clocks are ticking ....
As recently as a decade ago, Gazprom accounted for almost half of Europe’s gas imports. That figure has since fallen to about 33 percent, as customers switched to Norwegian or Algerian gas—and, more recently, to imported American coal, which has become plentiful because U.S. utilities are burning cheap gas instead. Even Vladimir Putin has acknowledged something has to change. Gazprom, he said at an energy meeting near Moscow on Oct. 23, must “find new, mutually acceptable forms of cooperation to be closer to the end users.”
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This the beginning of the end for the former KGB agent turned dictator. Putin is now desperately trying to make Rosneft, another energy company, his new milk cow, but it is highly unlikely that he will succeed.