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Sunday, August 13, 2017

Gref urged not to cling to the “tail” of a bygone oil era

President of Sberbank German Gref at the St Petersburg economic forum was urged to develop alternative energy instead of trying to cling to the passing of the oil age. However, he admitted that can not imagine Russia without “black gold”.

photo: Alexander Astafyev

German Gref

Russia should more actively develop alternative energy, because oil and gas as the main fuel sources in the world will depart on the second plan. This point of view German Gref expressed at a business Breakfast Sberbank “Life after oil” at the St. Petersburg international economic forum (SPIEF).

The banker said that to imagine Russian economy without the “black gold” impossible.”For our country, oil is our everything, is 25% of GDP,” – said Gref (quoted by RIA news).

According to him, in the world there are two main points of view about the future of oil and gas — oil, who believe that “oil Paradise” would last forever, and the other, according to which in 2028-2030 years alternative energy generation will be comparable in price to oil and gas.

The head of Sberbank gave the example of China, where half of public transport are going to put on electric motors. “In Russia, meet the electric vehicles, electric motorcycles — as yet an exotic situation”, – said the banker.

While our neighbors are on the path of creating innovative economy and developing alternative energy, Russia is trying to “catch the tail” oil era that conjures up “a little bit sad notes”, said Gref.

SPIEF is positioned as one of the main economic discussion platforms of the country, where, in addition to Russian participants, representatives of leading international companies and expert community. This year the forum will be held on June 16-18 under the motto “On the threshold of a new economic reality.”

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