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Re: SC28

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November 05, 2006 12:45PM
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/11/05/ccliam05.xml

Russian bear could punch our lights out

With the clocks now back and the cold weather drawing in, our leaders' minds are turning to the possibility of an energy shortage this winter.

Last week, while all eyes were on Sir Nicholas Stern's climate change report, the Commons debated whether we were in for a repeat of January's energy scare, when gas supplies ran dangerously low, causing consumer prices to spike.

The Government's reassurances were somewhat half-hearted. "We are hopeful that electricity supplies this winter will be more than sufficient," said Alistair Darling, the Trade & Industry Secretary. Only "hopeful"?

Gas supplies would be protected under "all credible scenarios", insisted Malcolm Wicks, the energy minister. But he admitted that the market would be "very tight".

In the aftermath of Stern's report, "renewables" are in vogue. The reality is, though, that for this winter – and for the next 20 years at least – Britain's most crucial energy source is gas.

In 1990 gas accounted for only 1 per cent of our electricity generation. That figure is now 39 per cent – outstripping all other fuels. With North Sea reserves declining, we now import 10 per cent of our gas. But by 2020 official estimates put the UK's gas import dependence at – get this – no less than 80 per cent.

That brings Russia centre stage. As well as being a hugely strategic oil exporter, Russia is the world's mightiest gas power by far. Home to a third of the world's known reserves, the country has over 70 per cent more gas than its nearest rival – which, incidentally, is Iran..........

As discussed in this excellent article, increasingly energy supplies will equal power and influence. Massive and ongoing moves like that Russia is recently involved with regarding energy, are being made around the world, with once dominate US interest, being less and less a part of the overall equation. You can't run huge modern economies like the US and Great Brittian with out energy, and in a world showing building signs that oil and gas are very close to, if not at peak of production, our societies will begin faltering as these energy supplies wane in abundance and affordability.
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Wizard 962October 29, 2006 07:17PM

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Wizard 632November 01, 2006 08:54PM

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Wizard 551November 01, 2006 09:21PM

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Wizard 574November 03, 2006 10:30PM

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jobe 560November 04, 2006 06:05AM

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Wizard 531November 03, 2006 11:01PM

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Rick 566November 03, 2006 11:13PM

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Paul P. 555November 04, 2006 09:04AM

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jobe 577November 04, 2006 09:21PM

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Rick 1218November 04, 2006 10:56PM

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Wizard 610November 05, 2006 12:04PM

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Wizard 594November 05, 2006 12:45PM

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Wizard 659November 05, 2006 01:09PM

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Wizard 570November 05, 2006 01:47PM

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Wizard 596November 05, 2006 03:02PM

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Wizard 546November 05, 2006 03:32PM

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Wizard 648November 05, 2006 03:55PM

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Wizard 596November 05, 2006 09:25PM

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Wizard 608November 08, 2006 08:23PM

Good riddence, Richard Pombo

mojavegreen 590November 09, 2006 09:06AM

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Paul P. 581November 08, 2006 09:32PM

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Wizard 548November 08, 2006 11:20PM

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jobe 551November 09, 2006 08:25AM

Plug Power and Honda Prep for Next Phase of Home Energy Station

Rick 979November 22, 2006 01:46PM



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