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Page added on June 5, 2021

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Rosneft Warns of ‘Severe’ Oil Shortage Amid Hasty Energy Shift

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Russian oil giant Rosneft PJSC warned of an impending shortfall in supply as global producers increasingly channel funds into a “hasty” energy transition.

“The world risks a severe deficit of oil and gas,” Rosneft Chief Executive Officer Igor Sechin said Saturday at the St. Petersburg International Economic Forum. “The world consumes oil, but isn’t ready to invest in it.”

His comments echo those of Russian Deputy Prime Minister Alexander Novak, who this week rejected calls for a rapid shift away from oil and gas, saying starving the industry of investment would harm the global economy. But fossil-fuel producers are facing mounting pressure to switch to cleaner forms of energy as governments step up efforts to prevent damaging climate change.

“It shouldn’t be about rejecting oil, but about rejecting crude from environmentally unfriendly projects,” Sechin said on an energy panel that also included BP Plc CEO Bernard Looney and Glencore Plc boss Ivan Glasenberg. “Oil consumption will continue to grow despite a relative drop in its share in the global energy mix.”

The discussion comes in the wake of a controversial road map published in May by the International Energy Agency, which urged an end to new oil and gas investments to avert disastrous climate change. The report was dismissed by petrostates Saudi Arabia and Russia, with Novak warning of skyrocketing prices. Sechin said it will still take decades to develop economically efficient green technologies.

“Some ecologists and politicians urge for a hasty energy transition, yet it requires an unrealistically fast launch of renewable energy sources and faces issues with storage, ensuring reliability and stability of power generation,” he said at the forum.

Instead, oil and gas producers must allocate sufficient funds to avoid further depleting resources that are already dwindling in many regions and threatening the future stability of supply, he said.

“Based on existing estimates, about $17 trillion should be invested in the global oil and gas sector to support current output levels until 2040,” the CEO said. “That’s about a third of all global energy investments.”

bloomberg



14 Comments on "Rosneft Warns of ‘Severe’ Oil Shortage Amid Hasty Energy Shift"

  1. Adios Amigos on Sat, 5th Jun 2021 1:45 pm 

    We are on the Roadmap to Nowhere.

  2. SomeOfMyUselessDrivels on Sat, 5th Jun 2021 4:32 pm 

    You have to see this whole earth and universe as energy flow. Elohim has modified the original GOD creation by genetic manipulation to take control of the energy coming with each new human birth. To build his own creation. Because of low human birth rate less energy is coming into earth, and Elohim has less energy to work with. A low birth rate is actually fucking Elohim in the ass big time and helping the human race.

    Less energy coming in because of low birth rate could also means a sun with less intensity. Since the energy might be traveling trough the sun (just a guess from me) less birth rate means a low sun intensity and less energy from solar panel. This is earth is not real, it is a electrical simulation. Elohim/Devil is a fucking losers.

    Just some of my loser thought.

  3. makati1 on Sat, 5th Jun 2021 4:48 pm 

    Adios: Yep! The West is burnt toast. The new bread is the East, mostly China. Adjust. ^_^

  4. EarthIsInDeficitOfEnergy on Sat, 5th Jun 2021 4:56 pm 

    I Don’t follow pop culture. I just recently starting to look at lady gaga and Britney Spear video. Really hyper sexualized video. These videos are made to boost birth rate and bring more energy into earth. But it is not working. This is why we see a decrease in insects number, less tree and everything id dying. He is in deficit of energy and he has to make choices.

    https://www.youtube.com/watch?v=40pTk7HMYFw

    https://www.youtube.com/watch?v=40pTk7HMYFw

  5. EarethIsInADeficitofEnergy on Sat, 5th Jun 2021 5:00 pm 

    Elohim can only bring new energy into this earth with a new human birth. No human birth no new energy.

    Britney Spears – Work B**ch (Official Music Video)

    https://www.youtube.com/watch?v=pt8VYOfr8To

  6. SatanIsAFuckingLoser on Sat, 5th Jun 2021 5:40 pm 

    Elohim is in deficit of energy. Probably started in 2010, around the time Britney spear started to produced these hyper sexualized videos.

    2013 is the date of the video below.
    https://www.youtube.com/watch?v=pt8VYOfr8To

    It is possible that sun is powered by human energy and not by GOD. So there is not enough energy to power the orange sun, so Elohim switch to the White sun. This is why the earth is cooling, Elohim fuck up his creation.

    https://www.youtube.com/watch?v=VcW4rKGlVAs

    By looking at the video below, there is not enought energy for him to keep his creation alive.

    https://www.youtube.com/watch?v=k_nt39YCeUo

    GOD has set a trap in his creation and Elohim did not see it. GOD is fucking Elohim in the ass big time right now and laughing at him. I will let figure out what it is.

  7. SatanIsAFuckingLoser on Sat, 5th Jun 2021 5:50 pm 

    Elohim fuck it up. It is too late. It cannot be fixed. The earth need to be destroyed and a new creation is needed. Elohim fuck it up and he cannot fix it. LOOOL

  8. SatanIsAFuckingLoser on Sat, 5th Jun 2021 6:14 pm 

    I am still laughing at Elohim/Devil/Illuminati. I imagine in my head GOD ass fucking them with a 4 inch diameter dildo and laughing, I am sure laughing at them (Elohim/Satanist)

    https://www.youtube.com/watch?v=eUOF2XROR5A

    The Elohim creation is in big energy deficit alright.

  9. makati1 on Sat, 5th Jun 2021 7:33 pm 

    OhOh! Bad news for Cloggiestein!

    “The firm, established in 2015, posted a blog entry entitled “Exploring Lithium-ion Electric Vehicles’ Carbon Footprint” this week, where they call into question a former ICE vs. EV comparison performed by the Wall Street Journal and, while citing work performed by Jefferies, argue that there could literally be “no reduction in CO2 output” in some EV vs. ICE comparisons.

    Their analysis “details the tremendous amount of energy (and by extension CO2) needed to manufacture a lithium-ion battery.” Because a typical EV is on average 50% heavier than a similar internal combustion engine, the analysis notes that the “embedded carbon” in an EV (i.e., when it rolls off the lot) is therefore 20–50% more than an internal combustion engine.”

    https://www.zerohedge.com/markets/inconvenient-truth-due-li-ions-heavy-carbon-footprint-evs-may-offer-negligible-co2

    Nothing those of us who live in the real world of physics and money did not already know. We also know the Wall Street Urinal is mostly Capitalist propaganda.

  10. supertard kat i hope u wont take the killshot on Sat, 5th Jun 2021 9:00 pm 

    makati1 on Sat, 5th Jun 2021 7:33 pm

    OhOh! Bad news for Cloggiestein!

  11. Cloggie on Sun, 6th Jun 2021 9:48 am 

    “The firm, established in 2015, posted a blog entry entitled “Exploring Lithium-ion Electric Vehicles’ Carbon Footprint” this week, where they call into question a former ICE vs. EV comparison performed by the Wall Street Journal and, while citing work performed by Jefferies, argue that there could literally be “no reduction in CO2 output” in some EV vs. ICE comparisons.

    The usual US garbage.

    An e-vehicle, produced by renewable energy and “fueled” by renewable electricity, has a ZERO carbon footprint.

    Nevertheless, we should indeed not opt for 1 billion e-vehicles replacing 1 billion ice’s, but instead aim for a large share of autonomous shared driving and discourage private car ownership.

    Don’t expect anything from the US in this regard. They are all like makati.

  12. aadbrd on Sun, 6th Jun 2021 10:47 am 

    Conflict of interest…much?

  13. I AM THE MOB on Wed, 9th Jun 2021 1:24 pm 

    The oil is now running out!

    They can only blow smoke up peoples arses so long!

    Eventually the tide will turn.

  14. I AM THE MOB on Wed, 9th Jun 2021 1:48 pm 

    This world will BURN SOON! Nukes will fly!

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