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dave walker's avatar

Europe will continue to slide in to energy poverty until they just fess up and admit they need Russian gas. This is a scheme to save face but it will not be enough to save the industrial base. They need it now and for as long as they want to survive. The wind and solar schemes won’t make the petro chemicals and thousands of other derivatives from gas that are consumed in everyday life. The pie in the sky dreams are going to turn in to nightmares if they don’t wise up.

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Silesianus's avatar

Its farcical to what extent EU tries to wrangle European economies, which, by hook or by crook, will get Russian gas switched back on because, what is the alternative? As unenviable as it is, Europe has to recon with its ideological hangups and admit that without Russia, there's no going anywhere. The problem they have is that the US is not going to back them up at a drop of a hat as it used to. The entire strategic outlook needs reviewing.

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winston's avatar

While there are molecules stranded in Russia, Russian cash and other assets are confiscated in European banks. The molecules are considerably cheaper than they were when the assets were sequestered. I wonder how the balance sheets will look if Russia regains control of its assets and access to international payment systems in return for cheap natural gas? Will UK and EU economies collapse if they cannot seize those all or some of those sequestered assets?

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Harry's avatar

On the other hand, as the dismal scientists like to say, Europe could just starting fracking and produce its own gas. But that won't fit with their plan for destroying the industrial base and turning Europe into an energy-poor Eurabia.

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