U6538: Russia’s Energy | N. Udensiva

Regional Institute
Graduate Seminar
Course Time TBD

During the last decade, the rapid development of US shale oil/gas and the rapid growth of renewables throughout the world, seem to have kept at bay the geopolitical power of major global energy producers such as Russia and Saudi Arabia. However, while Russia’s domestic policies took the heat of lower oil/gas prices, its international policies have only become more assertive. Over the last decade, Russia has had enough financial capital to engage in two wars—Ukraine and Syria—and to sponsor state-supported information warfare throughout Europe and the US.  The question is, where did this money come from?  A considerable portion of it did come from oil/gas proceeds as oil/gas exports continue to be at the service of the Kremlin administration in order to advance Russia’s global objectives. Revenues from those exports remain the major guarantor of Putin’s regime stability.  Revenues from military exports are also beginning to a play larger role in Russia’s budget, but oil and gas exports continue to be a significant part of it. In addition, even though the geopolitics of oil and gas are shifting globally, Russia’s oil and gas exports are still a central tool for Russia’s geopolitical interests. Now at the time of pandemic and public  strong sentiment towards green energy the world seems to be oversupplied with oil and gas. The international community is asking whether or not we really need fossil fuels. However, 80% of our energy needs still come from fossil fuels and Russian oil /gas production still play an important role in the world energy balance. In this course, we will focus on Russian resources as they affect the international community, and what role they play in the global energy mix and international relations.

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