Romney's energy plan is a godsend for the Putin administration since it virtually guarantees very high global oil prices in the foreseeable future. All those drilling initiatives proposed by Romney are costly. Canadian shale sands were not considered oil reserves until about 2005, when world oil prices rose sufficiently to make extraction economical. Offshore drilling is equally expensive, and safe production in national parks will also require massive investment. For Romney's plan to work, oil prices will need to stay at their current levels.
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