How do you know there’s a bull market in energy? Governments are salivating over domestic oil and gas supplies.
Straight-out nationalization a la the Mideast in the 1970s is a bit too blunt a tool in a media-savvy world of the 21st century. That forces states to employ a bit more finesse in their “acquisitions.” The Kremlin’s been a master at this, managing to take control of large chunks of formerly private energy properties in recent years.