Gazprom CEO Sounds Alarm on Looming Russian Energy Crisis
Does that headline feel like a punch in the gut?
Related Post: Is Russia Running Out of Gas?
Yes.
This just in…
Gazprom CEO Sounds Alarm on Looming Russian Energy Crisis
Gazprom Neft CEO Alexander Dyukov has confirmed what energy analysts have long suspected: Russia is running out of cheap oil. The country is being forced to tap into so-called “hard-to-recover” reserves—deep, complex, and geologically intractable deposits that require expensive extraction methods, advanced technology, and massive government support. If oil prices remain at current levels, Moscow could lose half of its production by 2030. These figures may sound sensational, but this is the new reality. The fields the Kremlin is now actively exploiting were discovered in the 1980s—and they are already 90–95% depleted. New reserves will never be as profitable, which could lead the Kremlin toward complete bankruptcy. Source
Now can ya’ll see that the Ukraine War is being faked for a damn good purpose? Like I said, it’s the whipping boy for spiralling energy costs when the reality is - we are well into severe depletion.
The only thing between 8B+ humans and cannibalism is shale oil and gas… and that production is now declining.
Time is Short
I am off to The Kimberley on Saturday. What will you do with the limited time that remains? Make the most of it because you will soon be dead as will everyone you know. This is an extinction event.
Keep an eye on this ... not only in the US... if buyers keep demanding higher yields... this has the potential to blow up the global economy
The Bond Market Is Fed Up with Fiscal Irresponsibility, Yields Surge
https://mishtalk.com/economics/the-bond-market-is-fed-up-with-fiscal-irresponsibility-yields-surge/
There is a tremendous amount of normalcy bias in the system. As long as the barnyard animals don't panic and keep spending BAU can probably last a lot longer than some of us think it can. I already have a bucket list trip to Greenland scheduled for next summer.