I like how you use this to beat up on neoliberal economics, "either the markets work or you agree that government intervention is sometimes needed" is an excellent point to hammer--especially with regard to the mildy retarded free market ideologues ruling the current US political establishment, but the notion of true energy independence  -- alternate energy schemes that are carbon absent or carbon neutral --are perhaps the most valuable answer to this dilemma, given where we are with global warming, etc. Perhaps, in addition to stressing the hypocrisy of the current neoliberal ideology, you might mention explicitly (and earlier on) what you say in closing: that free markets alone don't work and as a consequence a more reasonable, govermental intervention is needed, including 'diversifying' (as you mention) but also--taking the long view --governments should be strategizing and funding through research grants, tax breaks, market subsidies, etc...alternative energy infrastructures. Obviously as well, ANY solution should specifically NOT BE military in nature as they can only temporarily force availability for a limited supply. If energy (not necessarily oil) is a 'strategic' resource, than it follows that public funds should be invested into long term stable alternate energy solutions, not short term, erradicate and unpredictable 'interventions' to protect a resource that everyone now agrees will sooner or later be exhausted (and likely sooner), that may or may not even be successful--a military use of public funds is almost always the worst use. Given the WSJ's premise on this one (that energy is a 'strategic resource', that the market doesn't work to protect it, and that public intervention is necessary), it's a great time to push for strong public intervention exactly where it's needed, in the construction of a stable and strategic alternate energy game plan for the long term.

 

The current price of $235 (?`) per 1000 cubic feet is cheap. That's what I meant.

And I restate that Moscow has all the rights in the world to demand market prices from all it's customers, and also has every right in the world to stop gas deliveries if they are not payed said market prices.

And of course the market can not provide. That's just senseless ideology.

Peak oil is not an energy crisis. It is a liquid fuel crisis.