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History repeats itself

April 11, 2014
by Stephen Kimbell
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According to Karl Marx, “All history repeats itself, firstly as tragedy and then as farce”. It is interesting that the man whose ideas did more harm to Russia that to any other country should be wrong again and likely to cause further harm to Russia.

The historic repetition of the annexation of the Sudetenland by Hitler and the Crimea by Putin are obvious; each had an ethnic minority population living in another country and each decided to exercise military power to take them over. In each case the aggressor is delighted by an early win, but the longer term effects of the Ukrainian exercise may well be as bad for Russia as they were for Germany – another tragedy rather than a farce.

It is easy to imagine a Russian thought process that shows that the annexation is a good thing – the West have no appetite for a military response and any economic response must be limited because of the Western reliance on Russian oil and gas. Continuing tensions are likely to push up fossil fuel prices, which would give a much needed boost to the Russian economy.

However, the correct response from the West must be more strategic. It should be remembered that renewables and green technologies are not only about saving our planet, but also about energy security. The West was held to ransom by OPEC in the 1970s and it must not allow Russia to do the same so it must continue to invest to insure independence from Russian oil and gas.

The tragic repetition is that, in doing so, it will further blight the prospect of the Russian masses. Hopefully, it is a benefit to those of us who are working in the world of renewables.

About the Author
Stephen Kimbell is a specialist in business strategy and deal doing. He is an investor, an entrepreneur and an experienced non-executive director. During his many years in the corporate finance world, as a lawyer, a company director and as an academic, Stephen has helped numerous companies achieve success.
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