Quantcast

New Russia Sanctions Show Washington Delusional About U.S. Energy Capacity and Peak Oil Reality

Energy

The New York Times reports that “The United States and Europe kicked off a joint effort on Tuesday intended to curb Russia’s long-term ability to develop new oil resources.” The new sanctions would deny Russia access to western technology needed to access polar oil and deepwater oil, as well as tight oil produced by hydrofracturing and horizontal drilling.

Evidently the purpose of the sanctions is merely to punish Vladimir Putin for resisting Western attempts to surround his nation with NATO bases and missiles. Frederic Legrand / Shutterstock.com

 

It's good to know that a lot of Russian oil is likely to stay in the ground rather than being burned in Russian, Chinese and European car and truck engines, adding to global climate change. But that's not really the intent of the sanctions; evidently the purpose is merely to punish Vladimir Putin for resisting Western attempts to surround his nation with NATO bases and missiles. For some reason intelligible only to neoconservatives, nuclear-armed Washington seems intent on provoking a major confrontation with nuclear-armed Russia.As justification, we Americans are told in no uncertain terms that Russia was behind the downing of Malaysian Airlines flight 17—despite a remarkable lack of actual evidence to that effect (as veteran journalist Robert Parry points out).

 

The foreign policy wonks at the State Department may not understand that Russian oil production has just hit a post-USSR peak and will be declining anyway. The effect of the sanctions will be to speed the Russian decline, forcing up world oil prices as soon as U.S. tight oil maxes out and goes into its inevitable nosedive in the 2017-2020 time frame. Russia, which will still be an oil exporter then, will benefit from higher oil prices (perhaps nearly enough to compensate for the loss of production resulting from the sanctions). But the U.S., which will still be one of the world’s top oil importers, will face a re-run of the 2008 oil shock that contributed to its financial crash.

 

No doubt State Department policy experts sincerely believe the recent hype about America as a new energy superpower capable of supplying Europe with oil and natural gas to replace Russia’s exports. Maybe the Europeans are foolish enough to have fallen for this delusion as well. But these will prove to be ruinous high-stakes bets. One can only hope that all the players will stir from these hallucinations before the game turns really ugly.

 

EcoWatch Daily Newsletter

By Stuart Braun

A year after activist Greta Thunberg first stood in the rain outside the Swedish parliament with her now iconic "Skolstrejk för klimatet" — school strike for the climate — placard, the movement she spawned has set the tone for environmental protest action around the world.

Read More Show Less
Bruno Vincent / Staff / Getty Images

Toy maker Hasbro wants to play in the eco-packaging game. The board game giant will ditch its plastic packaging by 2022. The move means that games like Monopoly, Scrabble and Operation will no longer have shrink wrap, window sheets, plastic bags or elastic bands, as the Associated Press reported.

Read More Show Less
Sponsored
Vaping impaired the circulatory systems of people in a new study. bulentumut / iStock / Getty Images Plus

Vaping one time — even without nicotine — can damage blood vessels, reduce blood flow and create dangerous toxins, according to a new study published in the journal Radiology.

Read More Show Less
A man spreads pesticides on a plantation of vegetables in Rio de Janeiro Brazil. Ze Martinusso / Moment Open / Getty Images

By Jessica Corbett

Pointing to the deaths of more than half a billion bees in Brazil over a period of just four months, beekeepers, experts and activists are raising concerns about the soaring number of new pesticides greenlighted for use by the Brazilian government since far-right President Jair Bolsonaro took office in January — and the threat that it poses to pollinators, people and the planet.

Read More Show Less
SHEALAH CRAIGHEAD

By Elliott Negin

On July 19, President Trump hosted Apollo 11 astronauts Buzz Aldrin and Michael Collins and their families, along with the family of their deceased colleague Neil Armstrong, at a White House event to commemorate the 50th anniversary of the first manned landing on the moon.

Read More Show Less
Sponsored
The study looked at three groups of diverse lizards from South America. Daniel Pincheira-Donoso
  1. Cold-climate lizards that give live birth to their offspring are more likely to be driven to extinction than their egg-laying cousins as global temperatures continue to rise, new research suggests.
Read More Show Less
Sean Gallup / Getty Images

Denmark isn't interested in selling Greenland to the U.S., so now President Trump doesn't want to visit.

Read More Show Less
A stock photo of fire in the Amazon; a record number of fires have burned there this year. Brasil2 / E+ / Getty Images

There are a record number of wildfires burning in the Amazon rainforest, Brazil's space agency has said. Their smoke is visible from space and shrouded the city of São Paulo in darkness for about an hour Monday afternoon, CBS news reported.

Read More Show Less