Energy - John Day Poli Sci 2600 Russian Energy Threat Can...

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John Day Poli Sci 2600 Russian Energy Threat Can Russia’s policies on energy management affect the policies of other Europeans nations? Since the fall of the Soviet Union, Russia has been faced with how to manage extremely large resources of fossil fuels. Many European Union countries and some Southwest Asian countries depend on Russia as a source of fuel and energy. With this bargaining chip, is Russia overstepping its bounds as a responsible supplier of energy? If Russia has the power to hold the nations of Eastern Europe and the EU hostage, what demands will Russia make? These are important questions that face the future of this region as Putin moves to a more nationalized industry, and is coming close to the end of his term in office. According to the CIA World Fact book Russia has 74.4 billion bbl of proven oil reserves and 47.57 trillion cu m of prove natural gas reserves. In comparison, Kuwait, one of the key members of OPEC, has 96.5 billion bbl of proven oil reserves and 1.572 trillion cu m of proven natural gas reserves. These figures place Russia with the largest known natural gas reserves, the second largest coal reserves, and the eighth largest oil reserves in the world. This makes Russia the number one energy superpower in terms of energy exports to the European Union. Many countries depend on Russia for natural gas and oil supplies. Over ten of the twenty seven countries in the European Union import at least 30% of their yearly natural gas consumption from Russia. In the Commonwealth of Independent States (CIS), Ukraine, Belarus, Latvia, Lithuania, Estonia, and Georgia all import over 75% of their
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yearly natural gas consumption from Russia (EIA). Needless to say many influential states in the European Union and many states in political transition are very much at the mercy of Russian foreign policies concerning energy export. The Russian energy policy has changed a few times since it’s inception after perestroika in 1992. “Russian energy policy is currently balanced between a market- based industry and a state controlled national energy sector, but seems to lean more toward the energy state-capitalism model”(Bochkarev). Today the current policy has been put in place by Vladimir Putin’s administration which heavily favors nationalizing the energy industry. “It involved the establishment of much firmer mechanisms of state control over the energy sector. Indeed, energy occupies a central position in Putin’s political agenda: the security of energy supplies was the key issue of the G8 summit hosted in St. Petersburg in July” (Bochkarev). Putin has made many strides in his terms
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Energy - John Day Poli Sci 2600 Russian Energy Threat Can...

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