Hoover Institute: "Influence in the strategically important region of the Arctic belongs to Russia a

The US edition of the Hoover Institute think-tank wrote about the contradictions between Russia and the United States in the ‘Polar Race’. In his message to the American people on the eve of a visit to Alaska next week, President Barack Obama said that the US will do everything to prevent the threat of climate catastrophe, "before it is too late." However, the US president meant that America is ready to join in the race for energy resources in the region to ensure its own energy potential.

Russia plays a leading role in Arctic offshore oil production. Last year the  Prirazlomnoe deposit provided the state with 2.2 million barrels of oil. It is planned to double these figures. China is not far behind. Chinese companies have already obtained licenses to explore Iceland's shelf in the Norwegian Sea, it is also planned to get permission for petroleum extraction in the Barents Sea. Both Russia and China have made significant investments in Arctic research, infrastructure and natural resources. The dominant position of the Kremlin, in turn, cannot but worry the United States, which cannot demonstrate a consistent policy with respect to the Arctic region.

It would seem, why should America be concerned, because the oil prices are falling, and the ‘shale boom’ is experiencing its dawn. But do not forget that the US still imports 40% of its crude oil from OPEC countries, which costs the state 23.5 billion dollars per month. In addition, the shale gas and oil reserves in the Gulf of Mexico could run out in the next 10-15 years, and the United States run the risk of becoming dependent on imported oil, which is threatening US global competitiveness, leadership, and influence in the world.

The influence in the strategically important region of the Arctic belongs to Russia at the moment, and Washington will have to establish partnerships with Russia somehow, otherwise the economic situation of the state, which is already very heavy because of the significant budget spending on defense and security, may be exacerbated. It is not known what the result of President Obama’s visit to the Arctic will be, but it is already clear that the US is thinking about its erratic foreign policy, which is leading to a domestic crisis.

The US independent publication Zero Hedge wrote that Iran is ready to defend its position in the energy market "at any cost." Recently, the Iranian leadership stated that the country supports calls for an extraordinary OPEC meeting to explore ways of strengthening oil prices, but even in this case, Iran is ready to get back its market share "at any cost."

Iran was once the second-biggest OPEC producer after Saudi Arabia, but after the imposition of sanctions in 2012, Iran's production fell from 3.7 million to 1.2 million barrels per day. After signing the agreement between Iran and the ‘Six’ international mediators, the Iranian Energy Minister, Bijan Zanganeh, said that the country could quickly increase production by more than 1 million barrels per day within a month after the lifting of the sanctions. However, the return of Iran to the international energy market will mean an even greater weakening of oil prices. According to the same Zanganeh, the OPEC meeting is unlikely to happen, because there are some countries that do not agree to the meeting because of the political benefits. The minister did not specify a state, but it comes down to Saudi Arabia, the main rival of Iran. The debate on the adoption of the Iranian agreement is still continuing in the US Congress, but it is obvious that Iran is ready to take a leading position in the global energy market, in spite of all the problems associated with such a decision.