Russia Needs Moratorium on Arctic Drilling Due to Low Oil Prices: WWF

Russia Needs Moratorium on Arctic Drilling Due to Low Oil Prices: WWF © Flickr/ WWF-Canon Global Photo Network

22:21 23.12.2014(updated 00:09 24.12.2014)
http://sputniknews.com/russia/20141223/1016163955.html

MOSCOW, December 23 (Sputnik) — In light of global oil prices falling to a five-year low, Russia needs to declare a 10-year moratorium on fossil fuel production and exploration in the Arctic, the head of the World Wide Fund for Nature (WWF) Russia said Tuesday.

“We need to declare a 10-year moratorium on oil and gas exploration in the Arctic. At current oil prices, these projects are absolutely unprofitable,” Igor Chestin said at a press conference organized by the Russian Ministry of Natural Resources and Ecology.

Speaking on the state of environmental protection in Russia in 2013, Chestin noted that low oil prices give the Russian economy impetus to develop other sectors and reduce its dependency on natural resources.

Meanwhile, Russian Minister of Natural Resources and Environment Sergei Donskoi presented a different view on the issue.

“We believe that the Arctic projects enable us to develop the industry,” Donskoi said, citing the opening of the Pobeda (Victory) oil field in the Kara Sea in September as an example of the Arctic’s contribution to the Russian oil and gas industry.

The minister added that oil and gas production in the Arctic is not likely to reach large-scale volumes before 2020.

Russia is currently experiencing an economic downturn and a depreciation of the national currency amid a decline in oil prices, which constitutes a major part of the country’s revenues.

According to the Russian Emergencies Ministry, the total value of resources concentrated in Russia’s Arctic territories exceeds $30 trillion.

3 comments

  • theunhivedmind

    Notice how New Venice (Britain) and its vile pirate forks have been attacking the Nicaragua Interoceanic Canal which is a great project for progression and expansion of mankind. New Venice will always throw its vile genocidal green policy illusions against progressions for mankind. New Venice want to take us back to a Zeusian dark age but we the people need and demand a Promethean era from now on, we demand the use of the BRICS Development Bank. Now we see the same New Venice trickery being used against the massive top dog oil fields in the Arctic owned by Russia. I should remind you that the WWF is merely a front for some of the worst pirate slavemasters on the planet known as the 1001 Club headed by the Malthusian Prince Philip the husband of the New Doge of New Venice (Elizabeth Mary Windsor). The Worshipful Company of Fuellers will just have to face it that Russia is now the boss cocky of energy.

    -= The Unhived Mind

    http://theunhivedmind.com/wordpress3/putins-russia-discovers-a-massive-oil-field-in-the-arctic-larger-than-gulf-of-mexico/

  • sasquatch

    And how not so entertaining that the herd haven’t work out that the WWF is no where to be found when it comes to campaigning against the continued use of the internal combustion engine which has been obsolete in its current format going back to the 1930’s. The WWF is also nowhere to be found when it comes to resurrecting the technology that Stan Meyer had a go at before being assassinated.

  • cando

    WWF sued WWF in 2002 for name change to WWE.

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