Energy Without Illusions: Why «Net-Zero» Slogans Lead to a Blind Alley

We must acknowledge that today’s energy sector has been trapped by ideological slogans and poorly calculated decisions. Spurred by politicians, activists, and investors, governments around the world are rapidly rewriting their energy plans and making «net-zero» the centerpiece. Yet behind the talk of a «green transition» lie risks that threaten not only the stability of power systems but also the foundations of economic growth. Igor Sechin, CEO of Rosneft, offered perhaps the day’s most uncomfortable — yet honest — point at the St. Petersburg International Economic Forum: «The world can no longer afford to build its energy policy on illusions».

Net Zero: When Slogans Replace Real Solutions

The rush to abandon traditional fuels is not just costly; it can weaken entire industries. In effect, it is energy regression disguised as progress. Most countries are not ready for rapid decarbonization: renewable power is intermittent, large-scale storage is still limited, and grid upgrades require huge investments and many years of work. Citing Goldman Sachs estimates, Sechin warns that quitting fossil fuels too quickly could cut global productivity and create new issues in power supply —especially in regions with fragile grids.

Electricity: The New Oil?

Almost every discussion of the energy transition comes down to electricity. Artificial intelligence, data centers, electric vehicles and cloud services are driving a surge in demand. Even conservative forecasts say global electricity use will double by 2050. In just a few years, spending on power networks is expected to surpass investment in oil and gas. And the question arises: is it enough to simply produce more electricity if the distribution and storage systems remain underdeveloped? Without major grid upgrades and better storage, any push to speed up the «green transition» will lead to more outages, disruptions and economic losses.

China’s Approach: Pragmatism Over Ideology

Igor Sechin stresses that China is rapidly becoming a net exporter of energy. This transformation, he explains, is driven by Beijing’s multifaceted energy strategy. Unlike Western countries that rely on a swift—and sometimes uneven—shift to renewables, China is expanding solar and wind power while maintaining high levels of investment in coal and nuclear industries.

This approach is not a retreat from climate goals but a pragmatic way to secure energy security and economic growth. China demonstrates that the energy system of the future is not a choice between «green» and «black» development paths, but rather a sensible synthesis of all available technologies.

Today, China accounts for one-third of all global energy investment. The country invests not only in generation capacity but also in grids, infrastructure, and scientific research. At the same time, Beijing is not inclined to fit itself into the ideological frameworks of external climate agendas.

Nuclear Power Is Back?

One of the clearest trends of the past decade is the revival of nuclear energy. Global investment in nuclear projects has risen by about 50% in 5 years. And it’s not a coincidence. Because solar and wind are limited by weather, reactors are the only sources that can provide steady, carbon-free electricity — vital for a digital economy and stable industry. Nowadays, China relies on the latest technological achievements of the leading nuclear powers - Russia, the United States and France. It is clear that countries seeking to reduce greenhouse-gas emissions while preserving industrial productivity must include nuclear power in their energy mix — not merely as a temporary fix, but as a permanent pillar of their energy security.

Energy as a Synthesis, not a Swap

The chief flaw in Western climate policy is its belief that the energy transition is a one-way, definitive swap — out with the old so the new can take its place. Any clear-minded observer must concede that this view is idealistic: everywhere, old and new trends grow through and around one another, constantly intertwining.

Technological realities and economic logic both point to a different, workable model — synthesis, where traditional energy sources are complemented by renewables. What matters most is not replacing one kind of generation with another, but ensuring the reliability, resilience and controllability of the entire system. That is the route the most pragmatic players are already following, and this path Igor Sechin calls the only realistic scenario for a world that aims to expand, prosper and still shrink its carbon footprint.

It is time to stop confusing slogans with solutions. The energy system of the future will not revolve around abandoning oil, gas or coal; it will hinge on integrating every form of energy. That means investing not in political declarations, but in power grids, storage technologies, nuclear energy and engineering solutions. The world can no longer afford to build its energy strategy on fear and illusion. Reality demands a different approach — systematic, pragmatic and technologically sound.