Pulitzer Prize winner: Putin seriously misjudged, Russia is no longer an energy power

The Nikkei Asian Review reported on Monday (March 21) that Daniel Yergin, vice chairman of S&P Global, revealed in an interview that he had asked Russian President Vladimir Putin at an international forum in 2013 about how Russia planned to The economy weaned off its dependence on oil and gas export earnings. Yergin said Putin yelled at him as soon as he heard the word “shale gas,” because Putin knew shale gas would compete with Russian gas in Europe.

Yergin noted that Putin had grossly misjudged Europe’s response to Moscow’s invasion of Ukraine, believing that Europe’s reliance on Russian energy was enough to prevent Europeans from reacting so strongly. Yergin said Putin had made a gross miscalculation in destroying the scale of the economy he had spent 22 years building.

“The Economist” reported on March 19, Yergin pointed out that the Ukraine war has deprived Russia of “energy superpower” status, and Putin has destroyed the establishment of Russia as a reliable supplier in just a few weeks. reputation.

Yergin expects that, overall, Russia’s gas sales to Europe will shrink significantly over the next five years, and Europe will now make a big push for renewable energy based on the dual considerations of energy security and climate change.

Yergin won the Pulitzer Prize for The Prize: The Epic Quest for Oil, Money & Power.

IEA: WFH helps cut oil use
The U.S. Energy Information Administration (EIA) announced that during the four-week period ending March 11, 2022, the United States imported an average of 73,000 barrels per day from Russia, the lowest four-week average until February 11 (63,000 barrels) and less than a year. 86,000 barrels before.

The International Energy Agency (IEA) on March 18 put forward 10 proposals to cut oil use, including working from home (WFH) three days a week as much as possible in advanced economies.

The IEA estimates that working from home one day a week could cut demand by 170,000 barrels a day, and three days a week could cut 500,000 barrels a day.

The EIA’s July 2020 report stated that April 2020 was the peak of WFH measures to reduce the spread of the new coronavirus, resulting in a sharp decline in energy consumption in the commuting, industrial and commercial sectors.

EIA statistics show that U.S. energy consumption in April 2020 was 6.5 giga British thermal units, the lowest since September 1989, a 14% decrease from April 2019, and the largest monthly annual decrease since statistics began in 1973. .

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