Not just Europe either...
Posted on 01/21/2023 7:09:47 AM PST by canuck_conservative
In 2021, a whopping 83 percent of Russian gas was exported to Europe. Russia’s global exports of 7 million barrels of oil a day and 200 billion cubic meters (bcm) of piped gas a year accounted for about half of its federal revenue...
Far from freezing to death, Europe quickly secured alternative gas supplies by pivoting to global liquefied natural gas (LNG) ... these alternative supplies have reduced Europe’s dependence on Russian gas to 9 percent of its total gas imports...
Furthermore, Europe’s unseasonably warm winter means that not only have the worst-case scenarios been avoided, but Europe’s full storage tanks have barely been drawn down and can carry over into next winter. In January, German storage tanks were a record 91 percent full, up from 54 percent last year, meaning that Europe will need to buy significantly less gas in 2023 than in 2022.
Europe is now assured sufficient energy supply well into 2024 at a minimum, providing enough time for cheaper alternative energy supplies to be fully onboarded and operating within Europe. This includes the completion of an additional 200 bcm/year in LNG export capacity by 2024 — enough to fully and permanently replace Russia’s 200 bcm/year gas exports once and for all.
Putin is drawing practically no profit from gas sales, as his prior 150 bcm sales of gas to Europe have been replaced by a measly 16 bcm to China and pocket change in global LNG sales, barely enough to cover expenses. There are no markets for Putin to replace anything close to that 150 bcm shortfall: China lacks the necessary pipeline capacity to take any more for at least a decade and prefers domestic and diversified sources of energy anyhow, while Russia’s laggard technology makes it impossible to scale LNG exports beyond a slow trickle....
(Excerpt) Read more at foreignpolicy.com ...
Foreign Policy...
The Pravda of the Deep State establishment.
Europe was buying Russia’s oil and natural gas through intermediaries. India, a country with 3 times the population of Europe saw Russian energy rise from 3% of imports to 23% - over 7 times the amount. What India did not buy from the Middle East also went to Europe. If Russia stopped exporting energy the. prices would skyrocket.
Putin didn’t say that. The state media here in the US must have.
I know you bidenistas want Russia to be failing but the facts are that their economony is fine and they are selling oil easily to BRICS countries who were happy to pick up the slack.
https://thecradle.co/article-view/14036
With the US soon to leave the fossil-fuel market, thanks to the Biden Administration, we’ll just see how things play out.
Wanna bet?
Pakistan has announced it will continue to buy oil from Russia despite western sanctions imposed on Moscow following the start of the war in Ukraine.
“We have agreed that the payments will be paid in the currencies of friendly countries,” Russian Energy Minister Nikolay Shulginov said during a joint news conference on Friday alongside his Pakistani counterpart Ayaz Sadiq.
An easy litmus test to measure if Russia is ‘winning’ is to ask the question “if Putin could do it all over again the same way would he?”.
I think probably not.
“Far from freezing to death, Europe quickly secured alternative gas supplies by pivoting to global liquefied natural gas (LNG)”
Is this why our heating/natural gas bills in California have gone from under 100/month to 400-500/month?
Europe secured supply from US and we are paying for it, again.
This is asinine talk. India, China, and even Saudi Arabia are buying up Russian fuel. Before, they bought from the open market.
The same amount of oil is being redistributed via other channels to other countries. This has overhead we all pay for.
With natural gas, pipelines are generally required, and a lot of that is not flowing to Europe. However, this scarcity is problematically being met by the US via LNG, driving up our natural gas prices. Additionally, we aren’t adequately stepping up production of oil, so our oil prices are way up, too.
We need Russia, idiots.
How is that a litmus test? LOL
In real world, the Russian pipeline gas sales halved, the LNG sales quadrupled, resulting in twice the profit at -20% physical deliveries.
Oil exports increased by 2-5%.
The taxed paid by oil and gas exporters increased.
If Germany claimed that it doesn’t buy Russian oil, ordered Kazakh oil through the Russian pipeline to the refinery unable to operate on Kazakh oil, what oil do you think they are getting?
Regarding Indian diesel the entities rejected Russian diesel are buying, who do you think owns Indian refineries?
As long as you exclude China, India, Brazil, Saudi Arabia and South Africa from the world economy, then maybe.
but we also know that Europe merely uses the UAE to launder Russian gas, and the US uses India to launder Russian diesel and petroleum products.
so maybe we need to include EU and USA too.....
the would-be Tsar's simple "1-month conquest of Ukraine" has turned out to be not so simple ...He made the mistake of supposing it was Ukraine he was fighting and not all of globohomo.
Meanwhile a good chunk of the world economy is seeking a way out from dependence on the US doller as a reserve currency.
BWWWAAAAAAaaaa ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha .....
In other words, “buy our expensive American petroleum or else!”
Not just Europe either...
Cause we don’t need titanium.
And oil is fungible, I’m sure Russia isn’t pumping for no reason.
I think probably not.
Putin tried everything anybody could think of to avoid this shit.
I don’t have to read past the headline to know this is utter bunk.
People will post any nonsense if it says what they like.
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