Big Oil in the US hopes to pump a lot more oil for the EU to burn while the EU works to expand renewables
Inside Climate News explores what Russia’s oil and gas industries might have to do with the Russian invasion of Ukraine, and how this involvement may affect people around the world and their industries and governments — especially where action on the climate emergency is concerned.
Putin’s war machine is fueled by Russian oil and gas. He turns the money from selling these resources into a powerful military capability to project his ego across the world. As did Saddam Hussein in Iraq and Muammar Qaddafi in Libya.
The oil and gas industry makes up as much as one-fifth of Russia’s Gross Domestic Product, which is relatively small, less than half the size of the GDP of the United Kingdom, even though it has more than double the population. Oil and gas accounts for 60 percent of the nation’s exports and 30 percent of federal budget revenue, giving Putin a large pot of money for which he is not accountable to citizen taxpayers.From the article:
by Marianne Lavelle 06/03/2022, in Inside Climate News
Whatever His Motives, Putin’s War in Ukraine Is Fueled by Oil and Gas: The U.S. oil industry is hoping to fill the immediate void with increased oil and gas exports, while the EU moves in the longer term to replace Russian gas with renewable energy
In addition to the immediate events of driving fuel prices through the roof, the US petrochemical industry is taking advantage of the situation to expand their export infrastructure in hopes to lock in future supply contracts (and the associated carbon emissions) for years to come. Putin has done them a great favor by creating marvelous new opportunities for their businesses.
As explained in the article Putin’s War has a range of other effects on the American fossil fuel industry. What is not discussed in this article, is that the war is also providing additional incentives to replace fossil fuel power generation with renewable energy resources.
Rather than subsidizing still further expansion of the carbon emissions that are killing Earth’s biosphere, we should take advantage of the price differential between the increasingly costly production and transport of fossil fuels with the rapidly reducing costs of harvesting freely available renewable energy resources to totally eliminate requirements for burning fossil carbon.
To do this most effectively we need to replace our puppet governments and their fellow travelers working for the benefit of fossil fuel industries by electing intelligent and ethical people who are publicly committed to putting action against the climate crisis as their number one priority in Parliament. Vote Climate One’s Traffic Light Voting System is designed to provide you with information about candidates you can use to help you determine your preferences and quickly apply then on your ballot paper when you vote.
Featured image: Russian military weapons destroyed and seized by the Armed Forces of Ukraine. / Uploaded a work by Міністерство внутрішніх справ України from https://www.facebook.com/photo/?fbid=324376199718036&set=pcb.324376259718030 / licensed under the Creative Commons Attribution 4.0 International license / Attribution: Mvs.gov.ua