RUSSIA PASSES SAUDI ARABIA AS NUMBER 1 ENERGY EXPORTER
by Moody Adams “Russia is surpassing Saudi Arabia in oil exports for the first time since the Soviet Union’s collapse as Prime Minister Vladimir V. Putin exploits OPEC production cuts to gain market share,” reports the New York Times. “Exports of crude oil and refined products from Russia rose to 7.4 million barrels a day in the second quarter, from 7.25 million in the first quarter, according to Energy Ministry data. Saudi shipments fell to about 7 million barrels a day, from 7.39 million, according to International Energy Agency estimates of output and domestic demand.” Russia is the world’s largest exporter of energy. In addition to oil, the state-run Gazprom natural gas company is the world’s largest producer of natural gas. , included. The Moscow-based company’s gas production last year was equivalent to 9.9 million barrels of oil a day.
In December when oil was down to $40 and the world economy was in decline, Mr. Putin sent Mr. Sechin, his deputy, to an OPEC meeting and promised to reduce exports by 350,000 barrels a day the previous month and was prepared to cut an additional 320,000 if prices failed to rise. Russia did not keep her word and disappointed the OPEC secretary general, Abdalla El-Badri.
Russia is using its huge energy profits to rebuild its military machine. Also, her energy customers have to yield to her, or have their supply cut off.
This is providing Russia with the money to fulfill Ezekiel’s prophecy of building a “mighty army” to come against Israel: “Therefore, son of man, prophesy and say unto Gog, Thus saith the Lord GOD; In that day when my people of Israel dwelleth safely, shalt thou not know it? And thou shalt come from thy place out of the north parts, thou, and many people with thee, … and a mighty army: And thou shalt come up against my people of Israel, as a cloud to cover the land; it shall be in the latter days” (Ezekiel 38: 14, 15, 16).
The stage is being set for earth’s final drama. Our future looks great.