I haven't watched CNBC in three to four weeks, but via twitter I've heard that Sorkin and Kernan had a spat over renewable energy this morning. I don't know how Kernan can show up to work each day having to listen to Sorkin. The latter, what a doofus.
How has Vladimir Putin—a man ruling a country with an economy smaller than that of Texas, with an average life expectancy 10 years lower than that of France—managed to launch an unprovoked full-scale assault on Ukraine?
There is a deep psychological, political and almost civilizational answer to that question: He wants Ukraine to be part of Russia more than the West wants it to be free. He is willing to risk tremendous loss of life and treasure to get it. There are serious limits to how much the U.S. and Europe are willing to do militarily. And Putin knows it.
Missing from that explanation, though, is a story about material reality and basic economics—two things that Putin seems to understand far better than his counterparts in the free world and especially in Europe.
The numbers:
Putin knows that Europe produces 3.6 million barrels of oil a day but uses 15 million barrels of oil a day.
Putin knows that Europe produces 230 billion cubic meters of natural gas a year but uses 560 billion cubic meters. He knows that Europe uses 950 million tons of coal a year but produces half that.
The former KGB agent knows Russia produces 11 million barrels of oil per day but only uses 3.4 million. He knows Russia now produces over 700 billion cubic meters of gas a year but only uses around 400 billion. Russia mines 800 million tons of coal each year but uses 300.
That’s how Russia ends up supplying about 20 percent of Europe’s oil, 40 percent of its gas, and 20 percent of its coal.
The best paragraph:
John Kerry, the United States’ climate envoy, perfectly captured the myopia of this view when he said, in the days before the war, that the Russian invasion of Ukraine “could have a profound negative impact on the climate, obviously. You have a war, and obviously you’re going to have massive emissions consequences to the war. But equally importantly, you’re going to lose people’s focus.”
As the West fell into a hypnotic trance about healing its relationship with nature, averting climate apocalypse and worshiping a teenager named Greta, Vladimir Putin made his moves.
I would have changed that paragraph slightly for the alliteration:
.".. John Kerry's... myopia of the moment ..."
No comments:
Post a Comment