Things are looking up for Russia. In late August, Prime Minister Vladimir Putin finally opened a new pipeline exporting East Siberian oil to China. Dubbed the Eastern Siberia-Pacific Ocean pipeline, or ESPO, the plan is to pump 1.6 million barrels per day toward the Pacific Ocean over the next few years. The rationale is clear. Diversifying supplies to Asia offers Russia the Holy Grail that all energy producers want — leverage over competing consumers in the East and West. READ MORE