by Eric Worall, June 29, 2019 in WUWT
According to Forbes, when renewable energy programmes like Germany’s Energiewende mature, demand for Russian fossil fuel will collapse.
Will Russia Survive The Coming Energy Transition?
Jun 27, 2019, 10:35am
Ariel Cohen Contributor
A new global energy reality is emerging. The era of the hydrocarbon – which propelled mankind through the second stage of the industrial revolution, beyond coal and into outer space – is drawing to a close. The stone age ended not because we ran out of stones. The same with oil and gas.
We have now entered the era of the renewable energy resource, whereby zero-emission electricity is generated via near unlimited inputs (solar radiation, wind, tides, hydrogen, and eventually, deuterium). Cutting-edge, smart electric grids, utility-scale storage, and electric self-driving vehicles – powered by everything from lithium-ion batteries to hydrogen fuel cells – are critical elements of this historic energy transition.
Each of these technological trends will displace demand for Russia’s primary source of budget revenues: fossil fuels.