It’s Not Just About Obama
We need to counterbalance China in the Asia-Pacific region, but that is not easy when we owe Beijing nearly $1.3 trillion, because of our credit-fueled profligacy. I am all for resisting Putin’s intervention in Ukraine, but it is hard to weaken this petro-dictator without a national energy policy of our own that will bring down the price of oil and create alternatives. It is true that Obama could do more to “lead” the Europeans on Ukraine, but it is also true that Gerhard Schröder, the former chancellor of Germany, today sits on the board of a giant Russian oil company.