Oil industry in Russia in 2050 Assignment Example | Topics and Well Written Essays - 2000 words

Oil industry in Russia in 2050 - Assignment Example Of vital significance are the factors, which influence international demand and supply of energy. Owing to the fact that approximately 1.4 billion people in different parts of the world do not have electricity, it is very vital that access to modern forms of energy be enhanced to meet the United Nations Millennium Development Goals of poverty and hunger reduction, as well as the promotion and expansion of health and education. By the year 2050, the Russia will be virtually energy sufficient. The major reason for this is the increased domestic production of oil and shale gas in Russia. The fact that the Russia is among the major players in the international field alongside United States of America and other countries, requires that a national energy outlook report be carried out on the nation. Energy is very significant in different regions of the world since it supports and enhances social development as well as the growth of financial systems in different nations. As a consequence of the universal importance of energy, it is of utmost magnitude that different actors affected by the energy industry, for instance, the consumers of energy, leaders in government, actors in the energy sector, commercial institutes and the civil society, gain a comprehension of the basic actualities which typify the energy sector. This paper aims at describing a national energy outlook report for the Russia in the year 2050. This report will present the long-term projections of the supply and demand of energy in the Russia from the present times to the year 2050. The descriptions and projections made in this paper will focus greatly on the contributions made by the petroleum and gas sectors. The energy resources in the United States, as well as the policies, regulations and ethics, which infl uence the Russian energy sector, will also be examined. An in depth analysis