To put things into perspective...
Putting aside what russians took as grave insults from the US over the last decade or so (In july (g8 summit) for instance, Bush refered to Medvedev as a "smart fellow" but sent connie to Prague to finalise the balistic defence agreement just a day before that summit... Which for the russians ammounted to a clear message that Medvedev is an idiot and the US could not care less what russia opposes or what it thinks of its international standing heh...)
Putting that aside, yes it is mostly about energy policy.
It has turned out that Russia under Medvedev runned a very lively and most of all effective foreign energy policy. In july medvedev visited azarbejdzan, turkmensitan & kazahstan and managed to secure new deals musceling out western (eu&us) competitors and got assurances their oil wont circumvent russian soil in tranzition to the west.
What really made a difference thoe was Gazprom (russian state oil company) making headways into africa. US convinced Gadafi to open up Libia for foreign investment and energy deals setting up the western companies for fat deals. However it was Gazprom that secured a deal for any and all future energents making their way out of Libia, to mainly EU and US lol. Russians are also expanding their buisiness into Niger and coming to agreemen with Algeria about joint marketing of natural gas in europe.
All the US&EU effort that went into especially Libia evaporated and Americans flipped their lid so to speak lol. They`ve excluded Russian companies from any oil dealings in Iraq - russia previosly writing off a massive Iraqi state debt to them in anticipation of securing siad oil deals - cheeky and painful hit. Gazprom responded by a trip top Iran, securing major strategic agreements about Iraninan oil/gas exports. coincidentally (lol?) Washington promptly changed the tune and sent a message to Teheran that "washington is sworn to diplomacy" heh. Taking the battle to "eurazia" in response was really to be expected. Just not so litterary as to really start a war...
So all in all, Russians outplayed the US both in diplomacy and on the market. In one of the most sensitive issues on the planet. And an american "democratic" satelite starts the first war in the Caucasus in the 21st century.
Coincidance?
You be the judge heh...
Also some funny stuff from the unbiased media:
[spoiler]
http://www.youtube.com/watch?v=WtdVS8646GI&eurl=http://www.rtvslo.si/modload.php?&c_mod=forum&op=viewtopic&mode=viewtopic&topic_id=32443&forum=121&stahttp://www.youtube.com/watch?v=9fBGtXS66VM&eurl=http://www.rtvslo.si/modload.php?&c_mod=forum&op=viewtopic&mode=viewtopic&topic_id=32443&forum=121&sta[/spoiler]