“Europe should be thankful this is happening now instead of in December.”
Natural gas is priced globally. Sourced and shipped globally.
Soaring prices and supply disruptions will hit every country on earth (except Russia) and, indirectly, kill millions.
Increased gas prices drive increase fertilizer and electricity costs too. 40% of US electricity is generated by natural gas.
Agree. The shock of it hitting now will at least give some a few months to make plans for when cold weather hits. Granted the majority are blind as a bat about it but there will be some to use the coming months to prepare best they can. It’s a sh-t show all the way around.
I have wondered, but cannot find the answer to when do all the European gas contracts expire. I know it is the end of the year for Poland and Bulgaria, but don’t know about the others.
Putin has always been good about contracts; but once they are up if there is a way he can extract his pound of flesh without it financially hurting Russia, he is likely to do that.
>>>>Re: Natural gas is priced globally. Sourced and shipped globally.
Soaring prices and supply disruptions will hit every country on earth (except Russia) and, indirectly, kill millions.
Increased gas prices drive increase fertilizer and electricity costs too. 40% of US electricity is generated by natural gas.<<<<<
True. But Russia’s tiered pricing system (discounts for friendly countries) means China (and a few others) won’t be hit as hard.