Belgian Prime Minister Alexander De Croo might have spilled the beans about the duration of Europe’s energy crisis. He told reporters Monday, “the next 5 to 10 winters will be difficult.” “The development of the situation is very difficult throughout Europe,” De Croo told Belgium broadcaster VRT.
Belgium PM: “Next 5-10 Winters Will Be Difficult” As Energy Crisis Persists
Tag: Nord Stream 1
US, Allies Agree To Implement Russian Oil Price Cap Plan
US, Allies Agree To Implement Russian Oil Price Cap Plan
If Russia responds to the attempted price cap by cutting oil production [they already have], experts have warned prices could skyrocket. In the worst-case scenario, analysts at JPMorgan Chase said oil could shoot up to a “stratospheric” $380 per barrel. Oil prices are currently hovering around $100 per barrel.
How do higher oil prices prevent a worldwide recession?! Did the Biden Administration even think this through?! 🤯
Nord Stream I Disruption: Europe’s Panicking After Poland Finally Got What It Wanted
The absolute last thing that Poland wants right now is for everyone to remember how actively its leadership lobbied for exactly this outcome that’s since brought so much hardship to hundreds of millions of people, which is why it’s so important right now for activists to prioritize raising awareness of this “politically inconvenient” fact.
Nord Stream I Disruption: Europe’s Panicking After Poland Finally Got What It Wanted
Europe’s Coming Winter From Hell: Thanks for Your Sanctions War, Washington!
Europe’s impending depression is not to be discounted in terms of its relevance to this side of the Atlantic pond. Since the turn of the century, US exports to the European Union have soared from $12.3 billion per month to $30.4 billion. That latter amounts to $365 billion on an annual basis.
Needless to say, when European GDP descends into a double-digit slide, demand for US exports will plunge, causing declines in production and employment on this side of the Atlantic.
Europe’s Coming Winter From Hell: Thanks for Your Sanctions War, Washington!
Russia Confounds the West by Recapturing Its Oil Riches + Yellen discusses Russia oil price cap as Chancellor Nadhim Zahawi visits US
Moscow is raking in more revenue than ever with the help of new buyers, new traders and the world’s seemingly insatiable demand for crude
Russia Confounds the West by Recapturing Its Oil Riches
Related:
US Treasury Secretary Janet Yellen has warned that a failure to place a price cap on Russian oil would hurt the global economy.
Yellen discusses Russia oil price cap as Chancellor Nadhim Zahawi visits US
🤡
The rouble is soaring and Putin is stronger than ever – our sanctions have backfired
Energy prices are rocketing, inflation is soaring and millions are being starved of grain. Surely Johnson knew this would happen?
The rouble is soaring and Putin is stronger than ever – our sanctions have backfired
H/T: Richard Medhurst
Venezuela Stops Oil Shipments To Europe As Alternatives To Russian Energy Dry Up
The writing is on the wall for Europe in terms of this coming winter – It’s going to get ugly. With natural gas imports from Russia cut by 80% through Nord Stream 1 along with the majority of oil shipments, the EU is going to be scrambling for whatever fuel sources they can find to supply electricity and heating through the coming winter. Two sources that were originally suggested as alternatives were Iran and Venezuela.
Venezuela Stops Oil Shipments To Europe As Alternatives To Russian Energy Dry Up
Related:
Venezuela: Oil Production Declines as Shipments to Europe Suspended
Caracas’ oil operations were affected by mechanical disruptions caused by alleged attacks against oil facilities. On July 16 a natural gas pipeline explosion and a power outage interrupted PDVSA’s supply to its main crude production and export hub, the José Antonio Anzoátegui industrial complex in eastern Venezuela.
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With the operational disruption depleting Venezuela’s lightest oil grade stocks, Iran recently began to increase its supply of 29.5°API blend, a lighter alternative to Venezuela’s 16°API Merey, in order to boost fuel production and free domestic upgraded blends for exports.
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However, anonymous sources revealed that Caracas might suspend crude cargoes to Europe while the industry recovers from recent setbacks. PDVSA is reportedly negotiating the terms of the oil-for-debt agreements with Eni and Repsol to receive fuel while still settling long-standing debts owed to the two companies.
Neither Venezuela’s Oil Ministry nor PDVSA has issued statements confirming the alleged halted shipments to Europe or the renegotiation of the swap deals.
‘We can’t be an oil supplier’: Biden’s adviser says oil reserve releases must end
One of Biden’s top energy aides confirmed Friday the administration won’t extend the oil releases from the Strategic Petroleum Reserve that are scheduled to end this fall.
‘We can’t be an oil supplier’: Biden’s adviser says oil reserve releases must end
Related:
Soaring U.S. Production Can’t Keep LNG Prices In Check
Europe has displaced Asia as the top destination for U.S. LNG, and now receives 65% of total exports.
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According to a report by the Oil & Gas Journal, 10-year LNG contracts are currently priced at ~75% above 2021’s rates, with tight supplies expected to persist as Europe aims to boost LNG imports.
Why Nord Stream II Must Be Opened Immediately
Next winter Germany, and other European countries, will have an energy crisis. This crisis, we are told, is caused by the proxy war between the U.S. and Russia in Europe. They say that Russia has cut us off from its natural gas deliveries.
Why Nord Stream II Must Be Opened Immediately
Turbine for Nord Stream to be delivered from Canada on time – EC head
BRUSSELS. July 20 (Interfax) – The repaired turbine for Nord Stream has now been shipped from Canada, with delivery to be carried out as scheduled, European Commission head Ursula von der Leyen said on Wednesday.
Turbine for Nord Stream to be delivered from Canada on time – EC head
Ms. Cat’s Chronicles 
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