Comments by "Paul Aiello" (@paul1979uk2000) on "Russia's Gas Gamble: Four Risks Putin Faces with the Nord Stream 1 Pipeline Closure" video.

  1. We should remember that the cost is short term overall and should start to ease after this winter, it's highly unlikely western countries are going to go back and buy oil and gas from Russia after everything that's gone on, there is no trust there any more and I doubt any of those countries would want to be dependent on Russian oil and gas after this. Russia has more or less lost the European market for at least a decade and it's going to be very difficult for Russia to replace that market with other rich buyers. To make things worse for Russia, their actions is very likely going to speed up the renewable energy deployment as energy now is becoming a security risk that more countries around the world are going to want to generate a lot more of their energy internally, throw in the high energy cost of fossils at the moment, this is really bad news for the fossil industry and it's in their interest to create stability and bring the price back to normal level before pressures builds up enough on governments that real change on clean energy happens. Personally, I think the fossil industry might have wiped out around a decade or decade and half of the fossil industry with everything that's going on with people that are really angry and that anger is going to fuel change a lot faster than it normally would happen. In other words, grin and bear it, tighten our belts this window and let's rapidly move to alternative energy a lot quicker than we were doing, then those fossil producing nations play their games with trying to control their prices, the west are more than capable of moving to alternatives if there is enough political will to make it happen and with everything that's going on, it's very likely that we are going to get big changes over the next decade that favours the countries that don't have oil, gas and coal and hurts the ones that do. As for Russia, I see no way for them to win this, their reserves are running out, Europe is moving away from Russian oil and gas and even thought Russia is trying to sell to China, India and others, it's very likely the EU and US will go after those countries and put a lot of pressure on them to get them to not buy from Russia with the aim of isolating Russia, it might even mean tariffs and sanctions on those countries that are trying to profit on cheap oil and gas from Russia, after all, a lot of those countries are dependent on western markets and can't really afford to lose access to them, they'll very likely bend on this because the western markets are far more important to them than a sinking Russia is.
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  2. This is the wake-up call that was needed to get real change, governments are foot dragging on renewable energy when it's clear we could do so much more if there is the political will to do it, now with the anger building from the population because of the high cost of energy, it's very likely going to push for some radical changes to the energy sector over the next decade, especially in the EU. So yeah, Russia and other fossil producing nations are profiting from this now and Europe is paying a high price now but longer term, this is very likely a good thing for Europe and the world as it's very likely going to speed up our change from fossils to other clean energy sources a lot faster than it would have done, now the pressure is on governments to make real change and not foot drag and that could revolutionize the energy sector over the next decade and the best thing of all, the higher and longer the energy prices stay high, the bigger and quicker the change is going to happen. I don't think those countries that produce oil, gas and coal realize how damaging to them these high prices are, they are looking at the short term profits and not the big picture and that's great news for people that want real change in a shorter space of time.
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