Energy crisis

Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5

Unrest in Kazahkstan is continuing, and the president, Kassym-Jomart Tokayev, has called on a Moscow-led security alliance to provide “peacekeeping troops” to help him regain control.

With a mobile reception and internet blackout across much of the country, reliable figures on casualties are hard to come by, but there have been violent clashes in Almaty and other cities. Tokayev has promised a ruthless crackdown and blamed “terrorists” trained abroad for the violence.

Kazakhstan is the world largest uranium producer, 12th largest oil producer, 9th largest coal producer. The world might get into chaos if the unrest persists which could drive up the prices of the electricity and cause further disruption in global supply chain.

Wow, not to mention that Kazakhstan also mine alot of bitcoins!
(07-01-2022, 09:23 AM)valuebuddies Wrote:

Wow, not to mention that Kazakhstan also mine alot of bitcoins!

They must have been enjoying cheap local subsidized oil price for long time, their oil price suddenly double overnight thats why unrest. pretty bad, took over airport initially and beheaded one police officer. Gov troops shot dead 20+ people. 

The miliatants have weapons too, sounds like a civil war could happen if not managed properly. The Kazakhstan president actually looks like a chinese/mongolian.
Virtual currencies are worth virtually nothing.
A resource rich country and yet the government is so poor. I wonder where did all the money go.

This is why resource rich countries should have a good government. Otherwise the annual fees earned from oil/gas mysteriously end up in someone's hands and the family uses it to purchase branded goods etc, while the citizens suffer.
British Gas owner warns energy crisis to last two years

Many countries see gas as an intermediate solution while they wean themselves off more carbon-intensive energy sources, such as oil and coal, creating an international dash for gas as the world economy wakes up after its Covid-related slumber.

"As we move towards net zero, gas is a big transition fuel," Mr O'Shea said.

"And so as you turn off coal fired power stations in other countries, there isn't an abundance of gas that you can just turn on quickly."

Forum Jump:

Users browsing this thread: 1 Guest(s)