Putin Says Humanity Will End Up in Caves If It Abandons Oil and Nuclear
Which is exactly what some would welcome (for the rest of us)
If humanity completely abandons hydrocarbons in the energy sector it will “end up in caves”, Russian President Vladimir Putin told delegates at the VTB Russia Calling investment summit on November 20, as took at swing at most forms of alternative energy, as cited by Kommersant.
The Russian energy balance is one of the greenest in the world due to the use of hydropower, nuclear energy and gas generation, Putin added, before going on to extol the value of traditional forms of fossil fuels.
“Neglect of such a pure hydrocarbon as gas, in my opinion, is absolutely strange. When promoting ideas of [of the complete rejection of hydrocarbons] it seems to me that humanity can again find itself in caves, but only because it will not consume anything. If this is how all energy can be reduced to zero or just rely on the energy of the sun or wind, or tides, then, you know…
Today the technology is such that without hydrocarbon raw materials, without nuclear energy, without hydropower, mankind will not be able to survive, save his civilisation,” Putin said in his tradition keynote session at the annual event.
However, Putin conceded that it was necessary to develop renewable energy sources that, “will preserve nature for many millennia ahead for future generations.”
Russia ratified the Paris Climate accords in September and has begun introducing a comprehensive sustainable energy strategy, but the programme announced in October has been seriously watered down by the business lobby.
Putin went on to lambast modern methods of producing shale oil and gas, calling them “barbaric”.
“As for shale oil, let us wait for the Americans to spend money on new technologies for the production of shale oil, and then they have a scratch prong — let’s see if we are interested in this today or not — and we will buy it cheap,” the Russian president said, adding that he was joking.
He explained that Russia is following the development of these production methods, but they are destroying the environment. “In some areas where shale oil is extracted, citizens do not get water from the tap, but black slurry. Despite all possible economic advantages, such production, we do not need, we will never go for it. We have opportunities both off the shelf and those we can develop ourselves, so there is no rush,” Putin said.
Source: bne IntelliNews
I believe tha this man has “something to say” about this matter: http://www.williamengdahl.com/englishNEO6Nov2019.php
BTW, “Uncle Vlad” is right again, as usual with him… 😉
Putin went on to lambast modern methods of producing shale oil and gas, calling them “barbaric”.
“As for shale oil, let us wait for the Americans to spend money on new technologies for the production of shale oil, and then they have a scratch prong — let’s see if we are interested in this today or not — and we will buy it cheap,” the Russian president said, adding that he was joking.
Speaking of fracking and shale oil.
Guess which country has based its totalitarian vision of establishing Global Energy Dominance on the fracking of shale oil?
America.
Too bad for the Americans, however, its much-hyped shale oil is likely a bubble based on wildly optimistic (or delusional) US government projections.
https://shalebubble.org/
you’re right…
I am curious about how long it takes until the shale bubble makes “PLOP”….. who is going to be pay for the damages inflicted on the environment … incl. clean water supply?
And I’m sure you predicted Peak Oil at least half a dozen times. Do note that there is untapped shale oil just under central California likely equal to all the known oil reserves in the rest of the world. It is too expensive to produce as of now pending new technology. But even so it is cheaper to produce than Russia’s Arctic oil. Of course, Putz Putin dump’s on US shale oil and fracking. They will help bankrupt his failing RF…
Keep telling yourself that.
Shale oil will be just as a reliable of a foundation as the tech bubble, housing bubble, or Wall Street financial bubble were to prop up America’s Ponzi Scheme economy.
Indeed.
And costs for shale oil are considerably higher than those for conventional production.
Producers can make only a fraction of what some other producers make.
The industry is capital-intensive, having done a lot of heavy borrowing to carry on to this point.
It requires a great deal of drilling into rock formations and the high-pressure injection of water and chemicals, apart from collection systems.
It needs good prices to recoup its costs.
But world prices are rather soft, and it’s hard to see them climbing seriously for a long time.
Contributing to soft prices are a number of factors.
Weakening world economies, and plenty of analysts expect only more of the same, perhaps much more.
A surfeit of available oil supply, only artificially removed from markets by OPEC-Russian agreement. America’s illegal sanctions all over have also artificially reduced supplies, as with Iran and Venezuela. A return to political normality would restore these supplies to the market quickly.
We might well see growing failures in the shale oil industry as companies are unable to repay their debt.
Last, there are serious ecological problems around shale oil production.
The very process, fracturing formations and injecting chemicals, is increasingly viewed as a hazard to ground water.
It is also now is pretty well confirmed to cause at least minor earthquakes, and it has been banned for that reason in some jurisdictions.
Big new discoveries in conventional crude have been made recently, too. Iran, for example, has discovered a monster field. Russia is working overtime on its North Polar projects.
But America’s Beverly Hillbillies President thinks it’s all just great. His emotional and uninformed views here resemble those he has of so many important matters, as the workings of world trade and the deleterious effects of tariffs and sanctions and threats.
Russia’s Arctic oil costs way more than US shale oil to produce. Increased production of US shale oil and natural gas fracking plus Putz Putin’s Greater Russia Follies and a new arms race will help send him and the RF down into the dustbin of history to join their late Great and Glorious Russian Soviet Union. The sooner the better…
Lets look at some basic energy productions in the world:
-South Asia at 1 billion 800 million and growing at around 25 million per year produces 20 Quadrillion btus per year
-America at 330 million produces around 100 Quadrillion btus per year
-Europe at 771 million produces around 120 Quadrillion btus per year.
The energy needs of just South Asia are immense and will take several decades just to catch up with either America or Europe.