Nope.
within 20 years Arabian oil will dry,
North Sea rigs will go dry within 10 years.
Only oil rigs that will keep running are Putins and Chavezs...
That is not just the problem of the EU. Within decades it will be for sure possible to substitute oil through other energy sources. We were talking about contemporary Russia, the actual situation and your claim that Putty is showing the Europeans who ist the "boss".
If this would be the case - the show of Putin was not very impressive so far and will get him into deep trouble since he is definitly NOT the boss.