Europe will soon starve out of Energy in 1-5 years

[senheiser]

17 May, 20:51

EU own energy resources to last less than year - media - News - World - The Voice of Russia: News, Breaking news, Politics, Economics, Business, Russia, International current events, Expert opinion, podcasts, Video

© Photo: RIA Novosti/Alexander Mazurkevich

Several European countries are facing a potential energy crisis, making it necessary for them to cooperate with Russia in terms of natural gas supply, according to a report made by Anglia Ruskin University in UK, cited by CNBC channel on Saturday.

The Ukrainian crisis made the problem of the European countries' dependency on oil and natural gas supply from Russia even more poignant.


EU is concerned that the import of hydrocarbons may become heavily influenced by politics, as countries with small energy reserves essentially become dependent on imports of energy resources.

France's and Italy’s own coal, oil and natural gas reserves would last less than one year if imports were to be halted, assuming that the current rate of energy consumption would've been maintained.

According to the current estimates, UK has enough oil reserves for 5,2 years, coal for 4,5 years, and natural gas for 3 years. Germany’s oil reserves would be depleted in less than a year, gas reserves – in two years, although the country has almost 500 year supply of coal (Bulgaria, for example, has enough coal for 73 years, and Poland’s supply would last for 34 years).

As for the other countries, most likely they would have to rely on energy cooperation with foreign entities, including Russia.


For comparison, based on the current energy consumption levels, Russia has enough oil for more than 50 years, its natural gas reserves would last for more than a 100 years, and its coal reserves would last for over 500 years.

"We're still very much dependent on the global energy resources market, and if something were to happen to one of the major exporters, it would greatly affect Europe. This problem must be seriously discussed by the government and business representatives as soon as possible," said Anglia Ruskin University representative, according to CNBC.


A three-party ministerial meeting on Ukraine’s gas debt may take place on May 26, a spokesperson for the European Commission said. Russia’s Energy Minister Alexander Novak, Ukraine’s parliament-appointed Energy Minister Yuriy Prodan and European Commissioner for Energy Guenther Oettinger are expected to participate in the meeting.

The press service of the European Commission said other dates would be discussed as well, but May 26 is being negotiated right now.

http://www.anglia.ac.uk/ruskin/en/h... Observatory_Country Resource Maps Report.pdf

 

[senheiser]

 

[OCguy]

The US is at the beggining of a multi-decade energy boon, and will be exporting mutilple variations of energy to Europe.

 

[A.P. Richelieu]

17 May, 20:51

EU own energy resources to last less than year - media - News - World - The Voice of Russia: News, Breaking news, Politics, Economics, Business, Russia, International current events, Expert opinion, podcasts, Video

© Photo: RIA Novosti/Alexander Mazurkevich

Several European countries are facing a potential energy crisis, making it necessary for them to cooperate with Russia in terms of natural gas supply, according to a report made by Anglia Ruskin University in UK, cited by CNBC channel on Saturday.

The Ukrainian crisis made the problem of the European countries' dependency on oil and natural gas supply from Russia even more poignant.


EU is concerned that the import of hydrocarbons may become heavily influenced by politics, as countries with small energy reserves essentially become dependent on imports of energy resources.

France's and Italy’s own coal, oil and natural gas reserves would last less than one year if imports were to be halted, assuming that the current rate of energy consumption would've been maintained.

According to the current estimates, UK has enough oil reserves for 5,2 years, coal for 4,5 years, and natural gas for 3 years. Germany’s oil reserves would be depleted in less than a year, gas reserves – in two years, although the country has almost 500 year supply of coal (Bulgaria, for example, has enough coal for 73 years, and Poland’s supply would last for 34 years).

As for the other countries, most likely they would have to rely on energy cooperation with foreign entities, including Russia.


For comparison, based on the current energy consumption levels, Russia has enough oil for more than 50 years, its natural gas reserves would last for more than a 100 years, and its coal reserves would last for over 500 years.

"We're still very much dependent on the global energy resources market, and if something were to happen to one of the major exporters, it would greatly affect Europe. This problem must be seriously discussed by the government and business representatives as soon as possible," said Anglia Ruskin University representative, according to CNBC.


A three-party ministerial meeting on Ukraine’s gas debt may take place on May 26, a spokesperson for the European Commission said. Russia’s Energy Minister Alexander Novak, Ukraine’s parliament-appointed Energy Minister Yuriy Prodan and European Commissioner for Energy Guenther Oettinger are expected to participate in the meeting.

The press service of the European Commission said other dates would be discussed as well, but May 26 is being negotiated right now.

With 95% of electric power coming from hydro, nuclear and wind power, and no imports from Russia,
Why me worry?.
There will still be Hydropower in 10,000. Years from now.

 

[Tshering22]

With 95% of electric power coming from hydro, nuclear and wind power, and no imports from Russia,
Why me worry?.
There will still be Hydropower in 10,000. Years from now.

It will take some time. You must know that Nordic countries are most advanced in renewable energy than comparative other countries.

The crisis will still remain in those countries who are not as advanced you lot.

 

[UKBengali]

@Tshering22

Nordic countries have very small populations.

Only the UK and Norway have any significant oil and gas reserves left - much more for Norway than the UK.

EU should not be annoying the Russians too much if they know what is good for them.

 

[mike2000]

The US is at the beggining of a multi-decade energy boon, and will be exporting mutilple variations of energy to Europe.

Exactly, and not just that the U.K still has oil reserves in its coast and recently we discovered more than 4.4bn barrels of shale oil in weald basin. Plus we will soon start fracking for gas, which has been estimated we hold billions of barrels of oil underneath.
Anyway , resources are not everything a country needs for its development, knowledge and technology is more important , e.g Japan doesnt have any natural resource but its economy is almost 3 times bigger than Russia.
If anything being bless with too much oil/resources makes a country over dependent on it and ignoring other sectors of its economy.

 

[UKBengali]

Exactly, and not just that the U.K still has oil reserves in its coast and recently we discovered more than 4.4bn barrels of shale oil in weald basin. Plus we will soon start fracking for gas, which has been estimated we hold billions of barrels of oil underneath.
Anyway , resources are not everything a country needs for its development, knowledge and technology is more important , e.g Japan doesnt have any natural resource but its economy is almost 3 times bigger than Russia.
If anything being bless with too much oil/resources makes a country over dependent on it and ignoring other sectors of its economy.

Assuming the UK could extract all the oil, this is only years 6 years supply.

 

[A.P. Richelieu]

@Tshering22

Nordic countries have very small populations.

Only the UK and Norway have any significant oil and gas reserves left - much more for Norway than the UK.

EU should not be annoying the Russians too much if they know what is good for them.

If things go from bad to worse, we can replace 85% of the petrol with Ethanol that can
be manufactured from the vast forests so low population works to our benefit.

 

[Akasa]

All this dark predictions should be a reminder to Canada to start rapidly investing massive capital into the oil sands, and perhaps stave off its dependence on foreign energy, or be left out of a potentially nation changing economic or political deal with the likes of the EU.

 

[Akasa]

The US is at the beggining of a multi-decade energy boon, and will be exporting mutilple variations of energy to Europe.

The entire EU block imports 30% of its energy from Russia. The US is not even a worthy mention as an exporter of crude to the EU, not to mention that roughly 40% of US energy resources are imported. A switch from Russia to the US would be extremely difficult as Washington would be hard-pressed to develop the systems needed to support such a heavy overseas demand, which will generate a massive price hike. Russia, having all the necessary means to export the oil, could easily offer a far lower price for oil. Despite closer ties with the US in terms of culture and politics, energy is the lifeline for any international body and it has proven again and again to be a far more powerful motivator in political relations than anything else. In summary, a switch to US crude would be far more risky.

With 95% of electric power coming from hydro, nuclear and wind power, and no imports from Russia,
Why me worry?.
There will still be Hydropower in 10,000. Years from now.

According to what? 30% of EU's oil imports are from Russia.

Even the biggest investor in green technology, China, has trouble supplanting its oil reserves with this.

If things go from bad to worse, we can replace 85% of the petrol with Ethanol that can
be manufactured from the vast forests so low population works to our benefit.

As though all the technology needed to extract ethanol are as easy to develop as baguettes. By the time there is reasonable production of this prospective ethanol, the reserves would have already been dried up or the countries would have already made long term deals with energy-rich nations, which would ironically render the expensive investment of ethanol production useless.

 

[A.P. Richelieu]

According to what? 30% of EU's oil imports are from Russia.

Even the biggest investor in green technology, China, has trouble supplanting its oil reserves with this.

I was thinking natural gas.
EU doesnt import gas, countries within EU import gas, and my country does not import gas from Russia.

Checking I find that 42% of all imported oil comes from Russia, but 50 % of all imported oil
will be reexported to other countries in forms of petrol and diesel etc. so internal needs
can be fulfilled without Russia.
Oil is mainly used as fuel for different kinds of transportation.

Goal is to have moved to a fossile free fuel by 2030.

 

[Akasa]

Exactly, and not just that the U.K still has oil reserves in its coast and recently we discovered more than 4.4bn barrels of shale oil in weald basin. Plus we will soon start fracking for gas, which has been estimated we hold billions of barrels of oil underneath.
Anyway , resources are not everything a country needs for its development, knowledge and technology is more important , e.g Japan doesnt have any natural resource but its economy is almost 3 times bigger than Russia.
If anything being bless with too much oil/resources makes a country over dependent on it and ignoring other sectors of its economy.

And what drives the economy? Domestic production. What drives domestic production? Oil. Stop a source of oil, and the entire country comes to a halt. All this talk of "knowledge" and "technology" would be useless without a steady supply of hydrocarbons.

 

[OCguy]

The entire EU block imports 30% of its energy from Russia. The US is not even a worthy mention as an exporter of crude to the EU, not to mention that roughly 40% of US energy resources are imported. A switch from Russia to the US would be extremely difficult as Washington would be hard-pressed to develop the systems needed to support such a heavy overseas demand, which will generate a massive price hike. Russia, having all the necessary means to export the oil, could easily offer a far lower price for oil. Despite closer ties with the US in terms of culture and politics, energy is the lifeline for any international body and it has proven again and again to be a far more powerful motivator in political relations than anything else. In summary, a switch to US crude would be far more risky.



According to what? 30% of EU's oil imports are from Russia.

Even the biggest investor in green technology, China, has trouble supplanting its oil reserves with this.

Are we talking crude or generic energy, including LNG?

The US frequently sells more oil per day than it imports. We could be completely energy independent if we chose to, and are suddenly the #1 or #2 energy producer in the world, about to be #1 for certain.

While currently we do not export LNG, we are bursting at the seems with supply. The EU imports a minor amount from us currently, but as we import less and less, it frees up supply from the top OPEC countries in the ME.

I'm not suggesting the EU can or should eliminate Russian imports, I am merely saying that if Russia reduces the available supply, there are others who can pick up the slack.

Here is a good article, and it was written before all the Olympic/Ukraine fiascos:

PITTSBURGH (AP) — The Kremlin is watching, European nations are rebelling, and some suspect Moscow is secretly bankrolling a campaign to derail the West's strategic plans.


It's not some Cold War movie; it's about the U.S. boom in natural gas drilling, and the political implications are enormous.

Like falling dominoes, the drilling process called hydraulic fracturing, or fracking, is shaking up world energy markets from Washington to Moscow to Beijing. Some predict what was once unthinkable: that the U.S. won't need to import natural gas in the near future, and that Russia could be the big loser

Next cold war? Gas drilling boom rattles Russia - Yahoo Finance

 

[Akasa]

I was thinking natural gas.
EU doesnt import gas, countries within EU import gas, and my country does not import gas from Russia.

The European Union is used as an umbrella term. Certain countries that might be better in this situation does not represent the entirety of the bloc.