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Everyone, of course, is focused on how to stop Putin Ukraine to seize. Honestly, it’s too late for that. Nothing he can do now will stop Putin.
To their great credit, the President of Ukraine, the military and even civilians are fighting. But their defeat is inevitable. For a few days Moscow will control Kiev. The only question is how much Moscow will have to pay.
Putin is a proud man and takes his international reputation seriously. If his invasion drags on, he will look weak. If there are significant casualties among the civilian population, he will look like a nasty bully.
The question we have to ask ourselves is how to stop another seizure of power by Putin. What can we do now to keep him from taking action against some smaller countries along the Russian border, especially Estonia, Latvia and Lithuania? These three Baltic states, former members of the Soviet Union, are now the most vulnerable members of NATO.
The latest round of sanctions announced by President Biden is a blow to the wrist. The only sanctions that could force Putin to pause are to drive Russia out of the international banking system. But this will never happen as long as our European allies depend on Russian oil and natural gas for their economic survival.
But there are three things we need to do now.
First, the president must explain to his supporters that the existential threat that Russia poses to our national security requires him to turn around and break the shackles of the American energy industry, which he imposed at the beginning of his presidency.
We are on the world’s largest reserves of oil and natural resources, with the potential to become a global energy superpower. We must use what Providence gives.
Thanks to our brilliant American engineers and scientists, we can now extract oil and natural gas from rocks. We are on the world’s largest reserves of oil and natural resources, with the potential to become a global energy superpower. We must use what Providence gives.
Second, the president must go to our European allies, especially Germany, and tell them that we have their backs. Russia supplies half of its energy to Europe. No European leader will dare to jeopardize this relationship.
So instead offer to guarantee their energy security. We can help them replace Russian oil and natural gas with clean, duty-free American liquefied natural gas. They do not want to switch from Russian to American energy. Perhaps the last few days have shown them that Russian energy is too expensive politically and economically.
Finally, the president must tell the Russians that we will do everything in our power to lower the price of oil and natural gas, through our own exports and encouraging our Arab allies to swing more oil.
Wars are expensive. Today, Russia is sitting on excess profits from energy prices, which are twice as high as a year ago. If we can reduce the price of their major exports to 2020, Russia is defeated.
President Biden has said Putin is trying to rebuild the Soviet Union. He is right; it has been Putin’s dream for decades. The last time we defeated the Soviet Union was by lowering the price of oil. We pushed them into bankruptcy, barred them from accessing bank loans, and banned the transfer of American technology.
We’ve done it before and we can do it again. But we are running out of time. We won the first Cold War. We need to win in the second.