The news that we may have gotten a pipeline across Turkey to Western Europe approved is a good sign in the struggle to restore European resolve to stand up to Russia:
The European Union and the United States — key backers of Nabucco — say they are confident that gas supplies will now be found after Monday's agreement signed by Turkey and four EU countries — Austria, Bulgaria, Romania and Hungary — to allow the pipeline to cross their countries.
The 2,050-mile (3,300 kilometer) projected pipeline would run from the Caspian Sea across Turkey to Austria and involves investments of euro8 billion ($10.26 billion), according to EU data. Still, Nabucco's impact can't end Europe's need for large amounts of Russian gas, as it can carry no more than 5 percent of Europe's consumption.
Moscow, meanwhile, is pushing hard for alternative pipelines to Europe for its own gas — the so-called "Nord Stream" through the Baltic Sea to Germany and the "South Stream" through Bulgaria.
Like I've said, if President Obama can pull this off, I'll gladly give him credit.
