Headline: ‘Is Putin’s Ukraine invasion about fossil fuels?’ asks The Guardian. Then says ‘no’, but raises its usual climate alarm topic anyway.
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The continent has grown over-reliant on Russian gas – but Putin knows he is vulnerable to Europe cleaning up its energy sector.
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Is this really another war over fossil fuels?
No. Energy resources are not the focus of this threatened conflict.
Vladimir Putin has a long history of territorial ambitions in former Soviet nations, which he made explicit this week, and of attempts to exert political control over Ukraine.
Putin is said by supporters to be concerned over the possibility of Nato expansion, although many analysts say this is a pretext.
So the Ukraine crisis is not a war over resources, but it has many implications for resource use. Russia is effectively weaponising its dominance over European gas supply for political ends.
Reducing reliance on Russian gas is an urgent necessity for the EU to reach net zero emissions, and would also diminish Putin’s political leverage over the EU.
It is also worth noting that in the longer term, as Europe weans itself off gas and pursues net zero emissions, the value of this political weapon will wane rapidly.
Russia’s industries have never recovered from the fall of communism, and its economy is now based overwhelmingly on the export of fossil fuels, with much of the rest made up of energy-dependent mineral resources, such as iron, steel, aluminium and other metals, and some agriculture.
Four in 10 roubles accruing to Russia’s federal budget pre-pandemic came from oil and gas, which made up 60% of Russian exports in 2019.
Kremlin strategists are therefore keenly aware that in the longer term the global move to net zero threatens the whole basis of Russia’s economy and global influence.
Full article here.
via Tallbloke’s Talkshop
February 24, 2022 at 06:27AM

