... will outpace the minor BRIC. The Energy Research Institute published a report this year: the Global & Russian Energy Outlook Up To 2040 - which I strongly recommend and I actually did a post on its predecessor the 2035 report. As the report outlines USA's global share is anticipated to fall from 19% to 14% by 2040, in contrast to China's rise from 14% to a huge 24%. It is worth noting that its not all gloom for Russia as this economy is anticipated to overtake all the European powers at 3% total of global GDP, but still be a bit part player overall. As this report draws on similar conclusions to many Western publications, one worries about the overall decline of European presence in world affairs. The re-awakening ...
... and European sovereign and corporate bonds. This historically unprecedented ‘savings glut’ flooded the markets with cheap money. This, coupled with low interest rates across the whole eurozone, fuelled credit and real estate bubbles in the USA and Europe, which burst in 2008-9 amid the global ‘credit crunch’.
At first, this led to a pan-European banking crisis, followed by a sovereign debt crisis triggered by Greece’s unsustainable public deficit and debt levels in late 2009....
... gas needs. Perhaps, in the perfect world, where the last delegate to DPRK is not Denis Rodman and it does not want to destroy USA, both South and North could cooperate in all fields, including energy matters.
At a junction – ES-2030:
ES-2030 ... ... to turn back. However, at the same time, it is difficult to imagine what else Russia can currently do. It could remain in the European market by doing what EU has set it out to do, which will not only conflict with national interests, but also not help ...
... depends on Egyptian government as like with many countries energy imports are tightly regulated. Finally, it is a question whether Europe wants to play with its energy security as it needs to realise that investment in infrastructure is costly; it costs $100-150 ... ... seems time is still there (See: ShanghaiDaily). Interestingly, even with spectacular growth rates of shale production in the USA, its has had relatively small indirect impact on global prices - as many anticipated. For instance, it has not helped Japan,...
... climate in which US firms experience strong comparative advantage over their foreign counterparts.
Second crucial reason is USA’s entrepreneurial spirit and business mentality. Devon Energy, the biggest firm in the Barnett Shale area, was started ... ... of exporting shale - as many in the US argue it should be aimed predominantly at the home market.
Non-US Shale Progress (Europe and Asia):
China is eager to jump on the Shale Revolution and aims to produce 100 billion cubic meters by 2015. Firms ...
... some may have felt, but in today’s world things change quickly making one ponder – what must be done to stop any changes, how to adapt to them if they occur and what if sceptics are right?
«Oil and Gas Dialogue: Russian Gas in the European Market» Joint International Forum held at IMEMO RAN conference hall on 7th December 2012; moderated by Ivanova N. I., RAN Academic and Associate Director of IMEMO RAN, and Eric Dam, General Director of Energy Delta Institute.
Optimism ...
... will decided the end price. Unless Russia offsets the cost for gas from the current $400 per 1000 cubic meters, it could begin to lose market share – which has not changed in the last decade. The decision must be well calculated, yet quick, as USA has almost achieved independence from energy imports due to shale which could supply North America, Australian shale could supply Asia, Israel has off-shore shale potential, Middle East could make a stable return to supply Europe and if China gets the technological means it may mine its shale reserves which are the biggest in the world. Realistically, Russia cannot compete with shale prices as US trades at $70 per 1000 cubic meters, Australia at $120-$140 and Algeria and ...
