Russia is a major oil producer, responsible for 11 percent of the world’s total oil supply in 2020. Its invasion of Ukraine has roiled the markets and geopolitics of energy, driving oil and gas prices to their highest levels in nearly a decade and forcing many countries to reconsider their energy supplies. This week, listen to Steve Cohen, professor of international affairs and sustainability management at Columbia University, talking about the impact Russia's invasion of Ukraine is having on energy policy. For a transcript, please visit https://climatebreak.org/why-does-russias-invasion-of-ukraine-matter-for-energy-policy/
For a transcript, please visit https://climatebreak.org/why-does-russias-invasion-of-ukraine-matter-for-energy-policy/
Cohen: War in Ukraine is a paradigm shifting event. the dependence of Europe on Russia for their economic survival, is scared. A lot of people.
Ethan: That's Steve Cohen, professor of international affairs and sustainability management at Columbia University, talking about the impact Russia's invasion of Ukraine is having on energy policy.
Cohen: We're now facing, an energy emergency, particularly in Europe, which had been highly reliant on Russian, natural gas and oil supplies. Unfortunately, I think that the short-term solution we're going to see is more use of gas and oil.
Ethan: But Cohen says that in the long run, this oil crisis could accelerate the transition to renewable energy, as long as development and investment in renewable energy technology keeps up.
Cohen:part of the difference between this, oil shortage and the oil embargo in the 1970s is back then we didn't have solar energy. We didn't have windows. We didn't have the battery technology that we have today. This particular crisis is pushing people faster toward the green economy.
We still need improvements in price and the reliability of renewable energy. Is very little question renewable energy is going to knock fossil fuels out of the marketplace. What we need to do is accelerate the process.
Ethan: To learn more about how the war in Ukraine is affecting climate policy, visit climatebreak.org. I'm Ethan Elkind, and this was Climate Break