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

"It would be great to see all the candidates join Elizabeth Warren in taking the No Big Ag Money Pledge," said Citizens Regeneration Lobby's Alexis Baden-Mayer. Peter Blanchard / Flickr / ric (CC BY 2.0)

By Andrea Germanos

Food system justice and environmental advocates on Wednesday urged all Democratic presidential hopefuls to follow in the footsteps of Sen. Elizabeth Warren in signing a pledge rejecting campaign cash from food and agribusiness corporations.

Read More
A new study shows the impact Native Americans had on landscapes was "small" compared to what followed by Europeans. The findings provide important takeaway for conservation in New England today, seen above in a view of areas surrounding Rangeley Lakes in Maine. Cappi Thompson / Moment / Getty Images

There's a theory going around that Native Americans actively managed the land the lived on, using controlled burns to clear forests. It turns out that theory is wrong. New research shows that Native Americans barely altered the landscape at all. It was the Europeans who did that, as ZME Science reported.

Read More
Sponsored
Loggers operate in an area of lodgepole pine trees killed by the mountain pine beetle in the Beaverhead-Deerlodge National Forest on Sept. 13, 2019 in Montana. As climate change makes summers hotter and drier in the Northern Rockies, forests are threatened with increasing wildfire activity, deadly pathogens and insect infestations, including the mountain pine beetle outbreak. The insects have killed more than six million acres of forest across Montana since 2000. Chip Somodevilla / Getty Images

President Donald Trump told a crowd at the Davos World Economic Forum Tuesday that the U.S. will join the Forum's 1t.org initiative to restore and conserve one trillion trees around the world, according to The Hill.

Read More
Wild rice flatbread is one of many Native recipes found in Indigikitchen. Indigikitchen

The online cooking show Indigikitchen is providing a platform to help disseminate Indigenous food recipes — while helping eaters recognize their impact on the planet and Native communities.

Read More

On the Solomon Islands, rats and poachers are the two major threats to critically endangered sea turtles. A group of local women have joined forces to help save the animals from extinction.

Read More