Energy..

 

Europe was already in an energy crisis in 2020 and 2021, with the cost of CO2 permits soaring and wholesale electricity prices reaching record-high levels by December 2021.

Europe does not “depend on Russian gas.” It is codependency. Russia needs Europe to export, and Europe has no cheaper alternative. Let us remember that Russian gas is much cheaper than any other realistic alternative.

The long-term contracts signed with Gazprom are closed at prices that can be up to ten times lower than some of the current alternatives. The 150 billion cubic meters that Europe imports from Russia can be replaced with liquefied natural gas from Norway and the North Sea, the United States, Algeria, Qatar, or Israel, but it will be much more expensive.

 If Russia sees that European governments ban nuclear power, prohibit the development of indigenous gas reserves, intervene in imports, and add massive CO2 taxes, Russian authorities will know that there is no competitive alternative and that European industry and consumers will collapse due to the rising cost of energy

European governments should think hard about misguided policies when the continent has been saved this winter by natural gas imported from the United States produced with fracking, a technology that has been banned in Europe.

Europe created their own problems by following the American apetite for war and for Anti-Russia sentiiment.