“The principal direction is the creation of a complete line of ships and equipment to extract and transport oil and gas from offshore deposits,” said Mr. Putin. “This includes drilling platforms, ice-class gas carriers and icebreakers.”

Building new ships to develop Russia’s offshore resources was the FIRST item on the agenda of the FIRST cabinet meeting of the new Medvedev government.

Russia will leverage its long and proud tradition of building exceptional vessels for its navy and commerce fleet. The maritime-industrial decline of the post-Soviet era is coming to an end. “Priorities have been decided,” said Deputy Prime Minister S. Ivanov, “We have enough money.”

Ah, music to one’s ears… “We have enough money.” When was the last time anyone in the US heard a politician make such an affirmative, purposeful declaration?

And to learn of these developments you have to read about them in the Sakhalin Times, not the New York Times or Los Angeles Times. U.S. news media, of course, have other things to cover — like motorists whining about the price of gasoline.

Each nation has its different priorities, I guess. What you see depends on where you stand. So where does the US stand on “energy?” While Russia is developing, the US is ignoring events. The political class, and its media enablers, rush headlong towards the energy-equivalent of the Little Big Horn.

More on the topic here.

Until we meet again,

Byron King

Note: Byron King is a frequent contributor to the free e-letter Whiskey & Gunpowder. To receive daily insights into energy, oil, commodities and other natural resources sign up here!

Source: Russia: Energy Priority #1