Wednesday, December 24, 2008

Putin: 'Cheap gas era' ending

MOSCOW, Russia (CNN) -- The era of cheap natural gas is coming to an end, Russian Prime Minister Vladimir Putin said Tuesday at a meeting in Moscow of the world's major gas-exporting countries.
That dire-sounding prediction is exactly what his audience wanted to hear.
Iran, Libya and Venezuela are among the countries attending the Gas Exporting Countries Forum, which observers say is fast emerging as an OPEC-style gas-producers' cartel. The gas group, commonly called GECF, would control the vast bulk of global supplies and could fix prices for the rest of the world.

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