Not only have the Russian’s got 60% of the world’s gas; they’re trying to become dominant in nuclear power as well. The nation is becoming an aggressive seller and developer of nuclear technology – and we Western Europeans better watch out. We do not want to be too dependent on Russia for our economic future – but it appears as if that is the way it is going to be.

While European leaders procrastinate over our future energy needs, Russia has been proactively acting in its own interests. Tony Blair publishes a wishy-washy Energy White Paper with few calls to action and then goes on a vanity tour of the world. At the same time, the Russians are planning to snatch BP’s gas joint venture from under the company’s nose – just like they did with Shell at Salakhin-2.

Vladimir Putin must be laughing as he attends the G8 summit in Germany. The domestic economy is booming, his authority is unchallenged and Russian global power is once again on the rise. No wonder he has the confidence to posture against the US missile shield. But, despite the distasteful actions and background of this security service man, I find myself in total agreement with the diminutive power lover.

I believe the future is nuclear and, it appears, so does Vladimir Putin. He has been very busy this year sewing up contracts for the Russian nuclear industry. He has been wise and his stealthy moves look set to benefit the future of Russia – well the Russian elite that cream off all the cash, anyway.

In January, Putin travelled to Delhi to put the final stamp on a deal to build four nuclear power reactors in India. Good work…

In February, Putin made the first trip by a Russian head of state to the Middle East in around 80 years. He told a meeting of businessmen that Russia would be more than happy to provide technology and other assistance to Saudi Arabia and other Arab nations looking to develop nuclear energy.

In March, Russia also said it would design and build a low-grade reactor in Burma.

Russia and Kazakhstan, which has 15% of the world’s known uranium reserves, also look set to unveil details of a new uranium enrichment project later this month.

Russia is sewing up the nuclear infrastructure game and we need to make a move before they snap up all the best opportunities. There is no time for procrastination.

One particularly exciting move the Russians have made is the start of construction of floating reactors. These are very exciting to me. Construction of the first of these started in April at the Sevmash shipyard. The ship will have two 35 MW KLT-40S nuclear reactors and will be capable of supplying electricity to a city of 200,000 people. The expected cost of the reactor ship is $232m.

One benefit of these floating reactors is that they are ideal for desalination. You may recall my writing a few months ago that I expect the oil-rich Middle East to go nuclear in order to have enough of that precious resource; water.

The floating units could also be deployed in other countries for electricity and seawater desalination, operating for 15 years before returning to Russia for defuelling and maintenance. Interest in the plants has apparently been expressed by Indonesia, Malaysia, Algeria, Namibia and Argentina.

This flurry of activity highlights just how far behind Western Europe and America is in getting its energy policy sorted. Russia controls 60% of the world’s gas reserves through its 50.002% stake in Gazprom, it also is trying to sew up the nuclear infrastructure business as well.

While all this has been happening we have made no concrete action plans to build new power stations and, as a consequence, the UK and Europe as a whole is ceding control of its future energy needs to Russia. It is said that 40% of the wealth in this nation is controlled by organised crime. The country is run by crackpot military loonies, ex-communists and gun-toting criminals – and we are putting our future economic wellbeing into their hands…

Should we be very afraid for our future? I think we damn well should be… P.S. If you enjoyed this article then sign up for Smart Commodities UK. It’s dedicated to searching out the investment trends that could provide our biggest profit opportunities for the next decade…

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