Russian President Vladimir Putin has sharply criticized nations like the U.S. for ignoring the environmental impact of shale oil and gas production, describing it as a “barbaric” process that the Kremlin has no interest in pursuing.
Speaking at a business conference in Moscow Wednesday, Putin said: “Today’s technology of shale oil production and shale gas are without any doubt … barbaric.”
“These technologies destroy the environment,” he explained via a translation, before adding that the areas affected by the extraction process were typically left in a “precarious situation.”
“In spite of all of the economic benefits, we do not need it and we will never do this,” Putin said.
The U.S. Department of Energy was not immediately available for comment when contacted by Sirius Energy on Wednesday. Output increases in the Permian Basin of Texas, as well as other major formations, have helped the U.S. become the world’s largest producer of oil.
Earlier this week, the U.S. Energy Information Administration (EIA) said in a monthly forecast that U.S. crude oil output from seven shale formations was projected to rise to a record high of 9.13 million barrels per day in December.
Advocates of fracking, the fossil fuel extraction process used in the U.S., say it vastly expands natural gas supply — a cleaner fuel than crude oil — and cuts costs for consumers.
But, critics of the process have sounded the alarm over its negative environmental impacts, including air and groundwater pollution and increasing earthquake risk.
Industry analysts argue the fracking industry is supported by a wide range of interests, not least the U.S. economy and national security.
“You can rest assured that Russia shall always be a responsible actor in the global energy market,” Russia’s Putin said on Wednesday.
The biggest benefit of foreign direct investments FDI is boosting the economy of the domestic economy. But that’s only made possible by the increased jobs, high wages, and increased purchasing power.
TOP Gives A Space To Make Money Online From Home
Tourism Digital Marketing
The Best Option For Getting Quality Positive Reviews For Your Business.
Content Placement. To read more click >>> onlinelobbying.com
3 Reasons To Get TOP For Press Release Distribution Help.
3 Services on Influencers Marketing Platform TOP That Let You Make Money.
Want To Start Selling Your Photos Online? Here Are the Steps to Follow.
Things to remember when creating content for online lobbying.
Earn Money Online Easily With TOP Photos Gallery For Photographers.
Authors Can Make Money Online By Opting To Sell Ebooks With TOP.
5 Reasons Content Writers Thrive With TOP.
2 Great Reasons To Go With TOP For Content Creation.
3 Benefits You Reap By Doing Translation Services For TOP.
3 Important Reasons All Advertisers Should Consider TOP.
3 Steps To Getting Great Online Reviews.
3 Ways Doing Reviews With TOP Pays.