Former Soviet countries struggle to go green

RUSSIA / FSU POLITICS - In Brief 15 Jun 2021 by Alex Teddy
On June 9 the CEO of Rosneft said that the world needs ''green'' oil from Russia. The semi-state giant opened the Vostok Oil facility in 2021. This will be the Arctic's main oil terminal producing 30 million tons by 2024 and 100 million tons by 2030. Vostok Oil's carbon footrpint will be 75% lower than that of its rivals. That is because it uses the latest tech ad will reduce sulfur levels to almost nil: according to Rosneft. Others are sceptical of the company's grand claims.Rosneft said oil demand in the EU and Asia will rise and rise. The EU has called on its people to desist from investing in Russia hydrocarbons and to invest in renewable energy in the EU. Rosneft dislikes EU subsidies to renewables. This will have an impact on share values. Fossil fuels receive 3 times more subsidies than renewables according to the International Energy Agency. If all subsidies to fossil fuels ended then renewables would grow enormously.Russia's sustainable development envoy recently said that Russia needs to move away from fossil fuels and strive to slow climate change. Despite this Russia aims to increase oil, gas and coal output tenfold by 2035. But will there be a market for this? World population growth is slowing. People in LEDCs are becoming able to buy cars and electric goods more and more. But demand for energy is not going to increase anything like tenfold by 2035.Oil spills have caused catastrophes in the Russian Arctic. Global warming is melting permafrost in northern Russia. This will cause major threats to infrastructure.If Western countries gradually switch to green energy over the next 30 years as they plan there will be less and less of a market for hydrocarbons. ...

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