A Rússia apostou tudo no ouro negro: o Kremlin não acredita na transição e diz que em 2050 queimaremos ainda mais petróleo

Russia Bets Everything on Black Gold: Kremlin Doubts Transition and Says We Will Burn Even More Oil by 2050

Written by Noel Budeguer

Published on 10/10/2024 at 15:55

A Rússia apostou tudo no ouro negro: o Kremlin não acredita na transição e diz que em 2050 queimaremos ainda mais petróleo

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Russia Bets Everything on the Future of Oil: While the World Talks About Renewable Energies, the Kremlin Ensures That by 2050 We Will Burn Even More Oil

Russia claims to be unconcerned about its main economic engine: black gold. The Russian Ministry of Energy estimates that by 2050 not only will we continue burning oil, but we will burn even more oil than today.

Betting on Oil. Despite the strong Western sanctions on Russian oil and gas and the poor performance of Putin’s crown jewel: Gazprom, Russia appears quite calm in the face of public opinion.

The Russian Deputy Minister of Energy, Pavel Sorokin, told the media that he predicts a “serious” growth in demand until 2050. And Russia, he clarified, will be ready to supply the barrels that the world wishes to buy.

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Growth of Demand and Oil Production Until 2050

This bet responds to an expected growth of between 4.5% and 5.5% in oil demand by 2030, explains Sorokin. But that wouldn’t be the limit, as Russia also projects an increase of at least 5% in demand by 2050.

What OPEC Says. The Organization of the Petroleum Exporting Countries stands with Russia, judging by its latest report. It seems that the industry is not as concerned about the energy transition to renewable sources as it is about the geopolitical conflicts affecting the sector.

OPEC estimates that there will be no problems with demand or oil prices unless Iran closes the Strait of Hormuz in response to a possible war with Israel. About 20% of the world’s production flows through this strategic passage; that is, around 20 million barrels per day.

The Geopolitical Impact on the Global Energy Market

We continue burning oil as if there were no renewables. For its part, the International Energy Agency (IEA) believes that an unprecedented overproduction of oil is on the way by 2030. Its latest report forecasts an excess of 8 million barrels per day unsold.

For now, reality is on Russia’s side. Despite global efforts toward carbon neutrality and the massive adoption of electric vehicles, oil producers continue to invest millions to increase their extraction capacity. And the sanctions… well, Russia’s fleet of phantom ships is in great shape.

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Russia Bets Everything on Black Gold: Kremlin Doubts Transition and Says We Will Burn Even More Oil by 2050

Russia Bets Everything on the Future of Oil: While the World Talks About Renewable Energies, the Kremlin Ensures That by 2050 We Will Burn Even More Oil

Growth of Demand and Oil Production Until 2050

The Geopolitical Impact on the Global Energy Market

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Russia Bets Everything on Black Gold: Kremlin Doubts Transition and Says We Will Burn Even More Oil by 2050

Russia Bets Everything on the Future of Oil: While the World Talks About Renewable Energies, the Kremlin Ensures That by 2050 We Will Burn Even More Oil

Growth of Demand and Oil Production Until 2050

The Geopolitical Impact on the Global Energy Market

The end of Nokia: the brand that was the cellphone of an entire generation has ended its smartphones, left Brazil, and today survives only in basic phones in India while seeking a new partner.

Workers were opening a modern road in Dover when they found, 6 meters below the asphalt, a 3,500-year-old boat made of stitched oak and plant fibers.

Dissatisfied with seeing people sleeping on the street, a man named Ryan Donais started building small mobile homes so that homeless people can escape the cold, each equipped with a bed, running water, electricity, and heating.

Consumers eat six times more chicken than in the 1960s, global meat supply quadruples in 60 years, and FAO report reveals the invisible cost on the plate: livestock could drive 80% of the increase in agricultural emissions over the next decade.

Using high-resolution satellite images, archaeologists rediscovered the Egyptian city of Imet, buried for centuries in the Nile Delta, revealing rare multi-story houses, granaries, and a sacred road linked to the cobra goddess Wadjet, from about 2,400 years ago.

Two 17-year-old Kenyans use coconut shells, corn cobs, and recycled materials to create an exhaust filter that reduces 93.3% of pollutant particles and wins an environmental award in Africa.

Man built a 5-acre lake to raise bass, but after 1,000 days the project turned into a wildlife sanctuary with eagles, deer, ducks, owls, and live cameras that transformed the farm into a biodiversity laboratory.

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