The UK could run out of its own gas, coal, and oil within the next five years, the BBC reports citing a release by the Global Sustainability Institute (GSI). Therefore, shortages would increase Britain’s dependency on supplies from Russia, Qatar, and Norway.
Given the UK's current rate of fossil fuel consumption and its current reserves, the GSI expects the country to have 5.2 years of oil, 4.5 years of coal, and three years of gas left.
Besides, France is facing even the worse situation with its energy resources. The researchers highlight that "the clearest conclusion to be drawn is the vulnerability of Europe. Hence, it needs to develop alternative energy sources." Aled Jones, director of the Global Sustainability Institute, told the BBC that "the EU is becoming ever more reliant on our resource-rich neighbors like Norway and Russia and this trend will only continue unless decisive action is taken.” "The UK urgently needs to be part of a Europe-wide drive to expand renewable energy sources such as wave, wind, tidal, and solar power," said Professor Viktor Anderson. Experts are also offering incentives for more oil research in the North Sea. Besides, Europe should consider possibilities to persuade the U.S. to export more natural gas.
Russian President Vladimir Putin said that talks about a decrease in the West’s energy dependence on Russia are groundless. Interfax cites the politician.
“In my opinion, talks about the need to reduce energy dependence on Russia are absolute nonsense because there is never one-sided dependence in such cases. It is always interdependence which means more reliable and stable world economy and energy sector in particular”, - Russia’s president said.
According to Putin, even amid “loud talking about the necessity for reduction this dependence on the Russian Federation, our energy shipments, for example, to Europe are constantly rising”.
In addition, the head of the Russian government urged that the energy sector should stay out of politics to develop steadily without any shocks.