Expert: When oil is no longer needed, about 50% of geological oil reserves will be still available in Russia

The leading expert of Oil and Gas Industrial Union, Rustam Tankayev believes, oil can become inessential rather soon – in 2035. Analysts of PwC specify the same year in their shale report. “When oil is no longer needed, about 50% of geological oil reserves will be still available in Russia. New fuel will most likely be used for transportation”, Tankayev forecasts. There are several well-known alternatives to oil – water, gas and electricity. “Now many companies invest much in development of alternative fuels. Thus, an economically reasonable way will obviously be found some day”, Tankayev concluded.

The experts say, Russia can lose its powerful source of income soon. Thus, it is reasonable to find some substitution.

Source: http://www.oilru.com/news/358055/

Translated by Alexandra Utyasheva