As the saying goes, everything that goes up had to come down. The same holds true for the price of oil, which has seen a slide of around 55% in just three months. At one point of time there were even predictions that prices would reach $200 a barrel. However, currently, the price of oil has dropped to $68 a barrel, from a high of over $147 in July this year. But the question is how and more importantly, why did this happen, and in such a short time.

The Russia-Georgia conflict has caused several analysts to state that Moscow’s main goal was to ensure its energy dominance in the region. Though this may not be entirely correct – other Russian security interests were equally at play – energy issues did have a large role. Ever since Vladimir Putin took over the reins, he had time and again reiterated the importance of energy in Russia’s regional, and indeed its global, policy. It is well known that Moscow will not allow its supremacy to be compromised. Putin’s successor Dmitry Medvedev appears to be continuing with his mentor’s policy.

The term “environment” has come to be used in security discourse at three levels. At the first level is the issue of the degradation of the natural resource base, exhaustion of renewable resources and the upsetting of ecosystems by human action, all of which are contributing to environmental degradation and global climate change. The second level is the link between environment and war. Preparations for war and the use of nuclear and other weapons of mass destruction have caused the maximum damage to the environment.