Oil supply not what's threatened by Yukos drama

01/03/2005
While there's plenty to regret in Russia's expropriation of core OAO Yukos assets, the supposed threat to security of US oil supply deserves far less worry than it receives.To some analysts, Moscow's pillaging of Yukos annuls Russia's status as an alternative to oil supply from the Middle East. Yet Russian oil in trade isn't in jeopardy, even if Yukos and Russian modernization are.Moscow's appalling heavy-handedness is solidifying Russia's position among nations whose needs to sell oil are as compelling as the US need to buy oil.For the US, whatever its discomfort with specific relationships in this system, supply security doesn't get much better than that....
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