Some of us might remember back in the 80’s when Reagan relentlessly jawboned Saudi Arabia to boost its oil production. That increased supply and decreased prices, ripping the heart out of Moscow’s oil-export business, sent its already shaky economy into a tailspin. Less than a decade later, the Soviet Union collapsed.
Obama can do the same thing to Putin, without even asking for help from Saudi Arabia. All he has to do is stop interfering with the U.S. production of natural gas through fracking, and stop blocking construction of the Keystone XL oil pipeline.
The boom has already taken a huge bite out of the profits from Russia’s natural-gas exports. And it could do more if Obama would tell the Department of Interior to quit monkeying around with the regulations on fracking on the one-third of America’s natural-gas well located on federal land.