Opinion: Ukraine is a hot spot for natural resources
Russian President Vladimir Putin’s reported reason for invading Ukraine is to re-create the Russian empire by expanding west.
The apparent strategy is to encircle and strangle the Ukrainian capital of Kyiv, install a new government and then secure a pledge from NATO, the EU and western allies to not interfere in Russia’s sphere of influence.
When Putin called Ukraine the “crown jewel of Russia” in a 2015 speech it was for good reason. Russia and Ukraine are both rare-earth metal heavyweights that hold a significant share in the global market.
With about 5% of the earth’s natural and mineral resources, Ukraine abounds with minerals such as iron, coal, titanium, graphite, sulfur, titanium, nickel, magnesium, timber and mercury. Although most of it is unexploited, Ukraine has around 1.09 trillion cubic meters of natural gas - enough to stretch around the earth several times - placing it second only to Norway’s known resources of 1.53 trillion cubic meters.
In 2019, Ukraine was the fifth largest exporter of iron ore in the world, and some estimates indicate that up to 20 percent of the proven world reserves of titanium ores are situated in the country.
Environmental activists may see the war in Ukraine as an opportunity to advance their green energy agenda but they must be aware that Ukraine holds up to 20 percent of the proven world reserves of titanium ores. The eastern region of the country is also a rich source for lithium oxide, which is critical in the production of the batteries that power electric vehicles.
It’s no surprise then that the major auto companies are looking at lithium reserves in Europe, with a major focus on Ukraine. Converting to electric powered vehicles certainly sounds good, but there are basic questions to be answered, including the increased demand for electricity and where that would come from.
Many cities in the west have already experienced blackouts and brownouts from electrical overloads.
Progressives suggest solar and wind power as an answer, but that couldn’t begin to handle the power demands, especially given the massive number of electric vehicles projected.
Proponents of a green new deal must also consider the environmental impact of placing millions of old lithium batteries in landfills.
As for fossil fuels, one analyst said that if we unleashed our 150-year supply of that energy source, used what we needed and sold the rest to the world market, we’d be richer than Saudi Arabia and Kuwait combined and that our American standard of living would increase beyond imagination for everyone.
To break the partisan deadlock on energy policy in 2008, the late Sen. John McCain said that “Russia is a gas station masquerading as a country” and that our dependence on foreign oil puts the U.S. in a “dangerous situation.”
He said that when we buy foreign oil, we are enriching some of our worst enemies. We must take control over our own energy future, he warned, and once again become the master of our fate.
Fourteen years later, his words are proving prophetic.
McCain also proposed lifting the ban on offshore drilling as part of his plan to reduce dependence on foreign oil and help combat rising gas prices, something that the Biden administration and nearly every Democrat today opposes.
Putin, meanwhile, remains focused on Ukraine - the untouched, untapped, natural resource powerhouse of Europe. He knows that with its oil and gas resources, Ukraine will not only provide energy security and fuel his war machine, but it can give him great political leverage on the world stage.
By Jim Zbick | tneditor@tnonline.com
The foregoing opinions do not necessarily reflect the views of the Editorial Board or Times News LLC.