Russian sledge hockey team may compete in 2018 Paralympics — IPCSport May 22, 18:53
PM Medvedev says envoy’s murder 'left imprint' on Russian consulate’s work in TurkeyRussian Politics & Diplomacy May 22, 18:40
Peruvian fire-fighting service wants to buy Russian Mi-171 helicoptersBusiness & Economy May 22, 18:00
Putin sets task of accelerating work on super-heavy rocketScience & Space May 22, 17:55
Russian PM comments on decision to remove trade restrictions with TurkeyBusiness & Economy May 22, 17:39
Russia and its EU partners discuss entry point for Turkish Stream’s second lineBusiness & Economy May 22, 17:38
Austrian chancellor to address SPIEF-2017 on June 2Business & Economy May 22, 17:00
Russian air defense weaponry sparks interest at Minsk military showMilitary & Defense May 22, 16:54
International Paralympic Committee decides to maintain Russia’s membership suspensionSport May 22, 16:46
MOSCOW, June 26 (Itar-Tass) - Shale gas and shale oil will make it possible to meet demand for energy without any surges in oil prices, the president of the World Petroleum Council, Renato Bertani, told Itar-Tass in an interview.
“We are prepared for a situation in which humanity over ten years to come will consume as much resources as it did in the previous 150 years,” Bertani said. “However, the shale gas and shale oil revolution will enable us to meet consumer demand without any price shocks,” Bertani said.
He warned, though, that the era of low oil prices was gone never to return.
“I am unable to guess the level of oil prices over ten years to come, but I am pretty certain they will not be low,” he said.
Bertani is certain that Russia plays one of the most important roles, possibly, the most important one in the world energy industry in terms of oil and gas extraction and explored reserves.
“Oil and gas will remain the main fuels for 50 years to come,” he believes. “Their share among other sources of energy will range 60-70 percent.”
Bertani remarked that world oil producers would be discussing cooperation issues at the 21st World Petroleum Congress due in June 2014 in Moscow.