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Russia is drilling for oil in Gulf of Mexico while U.S.A. is going “Green”

March 18, 2010, 4:20PM

Russian oil platform

The oil rig is located in Gulf of Mexico, 250 miles south of Houston.While the United States is planning for alternative energy and considering a ban on offshore oil drilling, Russian oil platforms will go up in our backyard thanks to an offshore oil production deal with the Cuban government.

An editorial by The Washington Times chastises the Obama administration for wearing “green eyeshades” as the Russians extend their sphere of influence into the Western Hemisphere. While the United States is willing to spend time trying reach an energy utopia, Russia views oil as strategically important and as a part of an overall energy picture.

Oil is there and Russia will get it.

With huge deficits, a lack of jobs, and rising energy costs, is the Obama administration wrong in shunning the evil carbon emissions, as The Times concludes?

Russia to drill for oil in Gulf of Mexico while U.S. is going “Green”

The dollar’s position as the world’s leading reserve currency is under pressure

Dollar facing ‘power-shift’

A report last week in The Independent claiming that China, Russia and Gulf States are among nations prepared to ditch the dollar for oil trades has heightened the uncertainty surrounding the US currency’s future.