Putin prepares for “totally cut off” Europe’s gas supplies – Can such an outcome be achieved?
Europe is doubling down on its renewable energy frenzy, despite Russian President Vladimir Putin’s threat to permanently shut down Europe’s gas supplies at any time.
‘Prepare for a complete severance’ of EU in crisis as Russia threatens supply – but UK has a lifeline
The European Union is scrambling to secure its energy by dividing up supplies after Russia threatened to cut exports altogether.
Via ANTONY ASHKENAZ
08:17, Monday, July 11, 2022 | UPDATE: 08:17, Monday, July 11, 2022
From France The Minister of Economy and Finance has warned that the President of Russia Vladimir Putin would most likely cut off gas supplies to Europe as a response to EU sanctions. The French minister warned that the move could cause chaos across the continent, as countries have begun to draw up a tentative list of companies that will be given priority access. energy supplies in the event of a severe shortage.
…
Fears of outright cuts grew after Putin threatened to trigger a “catastrophic” energy crisis if Western powers continued to impose sanctions on Moscow.
In a speech on Friday, he acknowledged that while sanctions imposed by the West have hurt the Russian economy, he pointed out that record inflation and the cost of living crisis “shows once again that sanctions against Russia will cause more harm to the countries that impose them.
“The further use of sanctions could lead to more severe, even, without exaggeration, dire consequences in global energy markets.”
…
Anyone who thinks Putin can’t afford to do this, think again. China and India is buying energy from Russia as quickly as Russia can ship it, to the point that Russia is now China’s largest oil supplier. Russia can live without the income it currently receives from selling gas to Europe.
Despite this credible threat of an impending power supply collapse, Europe is doubling down on their renewable energy madness.
The right response would be for Europe to shift all available cash to developing shale gas and coal resources, to start producing more gas domestically as quickly as possible. But this is simply not happening on the scale needed to avert disaster.
Despite decades of green failure, which has left Europe completely dependent on Russian gas, European leaders still believe in fairy tales. European leaders continue to dream that renewable energy is a viable option to power Europe.
Related
