The shale-gas revolution unnerves Russian state capitalism

The Economist: A SPECTRE is haunting Russia: the spectre of shale gas. It is seeping into the salons of power, discomfiting Russia’s leaders and their bizniz cronies. Energy companies account for half of the value of the Russian stockmarket, and a single, state-backed firm, Gazprom, produces 10% of the country’s exports. Russian politics are also built on conventional oil and gas: Vladimir Putin is in essence the CEO of Russian Energy Inc. The revolution in unconventional gas production from shale beds, which began in the United States and is now spreading around the world, is shaking Russian state capitalism to its foundations...