But for now, the Ukraine crisis will have served to remind Obama that America is not – yet – ready to use its energy glut to full effect. It doesn’t have the export apparatus, and is only beginning to learn how to use the extra leverage. But it is, at least, far clearer now why America needs the ability to pump out far more gas when it’s needed – and this, in itself, should focus Russian minds. Like the Cold War, the principle will be that of deterrence. Putin will be less likely to strike if he realises that, next time, America and its new energy industry will be ready for him.