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The World Economy No Longer Needs Russia
- perrygeo 4y agoIt's way too early to declare victory over Putin's energy blackmail strategy. US fossil fuel production (specifically LNG) saved the winter. US production remains high but ROI is dropping, quality is dropping (e.g. an increasing portion of "oil" is light fuel or not even fuel at all), and we're resorting increasingly to shale and other high-tech costly methods. Meanwhile Russia is sitting on huge reserves that it doesn't even have the infrastructure to produce yet. A huge savings account just waiting for investment. In 10 or 20 years, we may find ourselves desperately purchasing from Russia. Putin's playing the long game here, let's not get cocky.
- thesuperbigfrog 4y ago>> In 10 or 20 years, we may find ourselves desperately purchasing from Russia. Putin's playing the long game here, let's not get cocky. Will he be around in 10 or 20 years?
- perrygeo 4y agoMaybe not, but do you think the next Russian oligarch in line is going to be friendlier to the west? Putin is likely to look like an ally in comparison.
- jmoak3 4y agoExactly. Also, if a business leader, politician, or some other kind of member of the Russian elite was openly friendly to the west there's a good chance Putin knocked them down a peg or six and they will not be in line to succeed him. Anything is possible however!
- eternalban 4y agoOP is not really a solid source and the article's omissions of directly related matter undermines its credibility. India is right now chugging Russian oil like there is no tomorrow. But it may end up doing this tomorrow and years to come. India can do this and have its PR arms float the "but Russians helped us in the 70s that's why" as the cover story and ignore the largess from the West during globalization (a good chunk of IT section of US economy went to India) because everyone knows the controlling interest of global investment is shopping around for the 'Next China'. So this is trading Germany (industrial goods [+EU]) for 'next China' (production). We wait to see whether long or short term [self-]interests will prevail.
- jmpman 4y agoI’m waiting for the western governments to force boycotting of any companies still doing business in Russia. Indian IT providers are still actively working in Russia, and would choose their US customers over Russia in a heartbeat. There are ways to incentivize India to stop drinking the Russian oil.
- eternalban 4y agoSure and that will drive up demand for non-sanctioned energy and prices will rise from their current lower demand levels. As India takes on more production responsibilities, its energy requirements will increase accordingly. Someone's done the math am sure.
- hackrnusr 4y agoOne reason that the West may have provoked the current war with Russia is to create a hostile environment in the future where all of that countries' fossil fuel natural resources will be withheld from the provocateurs. Never underestimate environmentalists' ability to create mayhem for their own self-serving purposes. They've already made housing unaffordable for much of generation Z by helping municipalities pass all of the exclusionary zoning laws that makes it so difficult to build new construction.
- hackrnusr 4y agoI'm proud of the downvote that I got on this one.