Diversifying European oil and gas imports is no small task, but if Moscow’s Crimean incursion leads to a tit-for-tat escalation in energy sanctions, Russia faces a far more difficult time quickly finding new customers than Europe does finding new suppliers.
As President Obama meets with the Saudi king in Riyadh Friday, he is almost certain to discuss the Ukraine crisis and how to respond. Could the US and Saudi Arabia coordinate a release of oil that would punish Russia's energy-dominated economy?
The UN General Assembly resolution, which passed Thursday, called on countries not to interfere in Ukraine's national unity and territorial integrity.
Russia's aggressive moves in Ukraine create a new East-West divide. But don't expect the tensions to usher in a new cold war. Here's why.
One out of ten barrels of the global oil supply now comes from the United States, according to the US Energy Information Administration. Most of that oil production came from the Eagle Ford and Bakken Shale plays in Texas and North Dakota, respectively.