Thanks for this Dr. Gustafson. In thinking about the impact of de-carbonization of European economies on relations with Russia, I wonder if there really is any necessary reason why conflict should emerge. The change will be so slow that Russia will have ample time to diversify its customer base. On the oil side, you're talking about a commoditized market; they will sell wherever they can, as they are doing now with deeply discounted volumes going to Pakistan and India. On gas, its pretty clear by now that European dependence on Russian pipe gas must be substantially reduced if Europe is to avoid catastrophes of the kind we are all now living through. A commoditized LNG market will take up much of this market share over time. Its also very clear as a matter of science that natural gas in general must be de-prioritized as fast as possible because of the order-of-magnitude extra climate damage that ensues from unavoidable leakage of CH4 at various stages of gas production. "Blue hydrogen" is a chimera invented by the global hydrocarbon industry and a few unimaginative investment banks.
Thank you so much for this wonderful effort. I look forward to your analysis with great interest.
Thanks for this Dr. Gustafson. In thinking about the impact of de-carbonization of European economies on relations with Russia, I wonder if there really is any necessary reason why conflict should emerge. The change will be so slow that Russia will have ample time to diversify its customer base. On the oil side, you're talking about a commoditized market; they will sell wherever they can, as they are doing now with deeply discounted volumes going to Pakistan and India. On gas, its pretty clear by now that European dependence on Russian pipe gas must be substantially reduced if Europe is to avoid catastrophes of the kind we are all now living through. A commoditized LNG market will take up much of this market share over time. Its also very clear as a matter of science that natural gas in general must be de-prioritized as fast as possible because of the order-of-magnitude extra climate damage that ensues from unavoidable leakage of CH4 at various stages of gas production. "Blue hydrogen" is a chimera invented by the global hydrocarbon industry and a few unimaginative investment banks.