| Worry
for Europe as Putin favors gas-industry
cartel Russian leader Vladimir Putin
could come out in favor of launching an
international cartel to keep the price
of gas high.
Putin admitted that a gas-industry cartel
similar to the Opec cartel of oil producing
nations may have merits for the world's
largest gas producer -- and the country
with the largest reserves.
"A gas Opec is an interesting idea,"
said Putin at a meeting at the Kremlin.
"We will think about it."
The idea of such a cartel has been raised
by Iran, which has 15 percent of the world's
gas reserves, second only to Russia with
26 percent. The news will alarm the big
gas consumers of western Europe, which
have already felt the heat of Russian
politicking that has led to supply and
price fears over the past two winters.
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