Advisor to the President of the Russian Federation on regional economic integration Sergey Glazyev believes that oil will soon cease to be a key energy asset, and the future for renewable energy sources, This opinion he expressed in an interview with TASS.
Glazyev is confident that oil consumption on a global scale as an energy carrier will only decline, but to rise in price, it can only by increasing demand from refineries.
“Regardless, how would behave the cartel of oil countries, the consumption of oil as energy carrier prospects of some growth is not expected now or in the foreseeable future. Of course, the consumption of oil and gas as sources of chemical raw materials will grow, but our energy market has changed dramatically”.
Mr. Glazyev also commented on the results of the meeting in Doha, however, unlike many other experts, he did not look for the causes of the failure and advised not to give much importance to different kinds of cartel collusion, because the world is in transition to a new technological order.
“The growth of new technological structure is accompanied by growth rate of non-thermal power, and renewable sources. Vigorously the development of solar energy, which is the unit cost of power looks better than the heat”.
Recall that at the meeting in the Qatari capital Doha on April 17, countries-oil producers failed to reach an agreement to freeze production at a certain level at least until the next fall.
At the end of the Doha negotiations Russian energy Minister Alexander Novak said that the agreement on the freezing of oil production was not accepted due to the changing positions of several States. According to the head of the Ministry of energy of the Russian Federation, the parties agreed that OPEC will hold further consultations with members of the cartel countries that did not participate in the negotiations. This will be done before the traditional June summit meeting of the organization.
On the one hand, Mr Glazyev’s hard not to agree, but for the development of alternative energy there are enough serious obstacles. You need to understand that the world is not all determined by technological breakthroughs. The history of renewable energy came a long time ago, but still got a really wide promotion.
The fact that oil is a major asset from the point of view of geopolitical influence. Manipulating its price, it is possible to exert pressure on certain countries and even bankrupt them. Similarly, raising prices to high values can cause acceleration of many world economies, increasing their income and, as a consequence, the growth of demand.
In addition, through the sale of oil is possible in a relatively short time to obtain huge money, and can do so only countries that possess the reserves of “black gold”. In the case of, for example, solar energy, about some enormous cash flows of speech does not go, and such a scenario is hardly included in the plans of world leaders.
Even in the field of alternative energy are not yet able to reach self-sufficiency. You can remember the bankruptcy in China, there are fresh examples from the United States.
“Sun giant” SunEdison filed for bankruptcy
The American SunEdison, one of the largest companies in the world in the field of alternative energy, filed for protection from creditors.
In the statement under Chapter 11 of the U.S. Code bankruptcy, filed on Thursday, April 21, at the court of bankruptcy for the southern district of new York, reported total assets of the company amounts to $20.7 billion, debt of $16,1 billion
The statement also notes that the leading company’s shareholders are large investment funds U.S. Oppenheimer Funds (11,9%), BlackRock (6,5%), Vanguard Group (6.4 per cent) and Adage Capital Partners (5.4 per cent). After filing, SunEdison stock trades on the new York stock exchange (NYSE) was suspended.
