I have a question which is somewhat related. What is the average fraction of the EU gas consumption that is imported from Russia? 25 %? 50 %? What if we're talking about all of Europe instead of just the EU? Peak oil is not an energy crisis. It is a liquid fuel crisis.
But with UK and, in a few years, Dutch production declining, and Norway's production likely to reach a plateau in a few years, and consumption growing, everybody expects Russia's share of the market to grow. The question is how much production there will increase (and how much of that will be taken by rising domestic demand). In the long run, we're all dead. John Maynard Keynes
