Posted on 01/14/2015 11:51:40 PM PST by tcrlaf
Russia cut gas exports to Europe by 60 per cent today, plunging the continent into an energy crisis 'within hours' as a dispute with Ukraine escalated.
This morning, gas companies in Ukraine said that Russia had completely cut off their supply.
Six countries reported a complete shut-off of Russian gas shipped via Ukraine today, in a sharp escalation of a struggle over energy that threatens Europe as winter sets in.
Bulgaria, Greece, Macedonia, Romania, Croatia and Turkey all reported a halt in gas shipments from Russia through Ukraine.
Croatia said it was temporarily reducing supplies to industrial customers while Bulgaria said it had enough gas for only 'for a few days' and was in a 'crisis situation'.
(Excerpt) Read more at dailymail.co.uk ...
You know, I never realized how brilliant it was to drive your currency down to 1% of it’s value just 12 months prior. I take it all back. You’re really on to something here.
No, it isn’t 1% yet, but it has tanked severely.
Bwa ha ha ha ha ha...
Are Europeans going to freeze because Russia turned off the gas or because they got suckered into getting rid of their coal-burners?
“Well, not to worry. The Greenies have already solved the energy problems.”
Meanwhile, the Serbs will still have heat (and electricity to sell) because they chose to refurb the coal power-plants, instead of tearing them down and building Gas-fired ones.
Bit of irony in that.
“Are Europeans going to freeze because Russia turned off the gas or because they got suckered into getting rid of their coal-burners?”
YES...
EU Observer now has a story up, as well, but nothing on any actual cut today.
Russia to cut EU gas transit via Ukraine
https://euobserver.com/news/127216
“Now the guy on the street will take it in the shorts. Interesting how it always turns out that way.”
Combustible combination following right on the Charlie Hedbo massacre.
I don’t wish freezing winters and no heat on anyone. I wish the EU and US leaders had approved LNG ports a long time ago. Russian leverage over the world economy would be greatly reduced.
There is nothing to admire in this action.
YES...So sorry to deflate your ecstasy at human beings freezing, because Putin is a barbaric invader, but...
Additionally, the EU has been putting taxpayers' money into new inter-connectors, so now if Russia decides to cut off supplies, the affected countries can still get gas from somewhere else, according to the Economist.This is a major move because in the past Russia punished countries by cutting off gas.
I lean way your direction on this.
The Ruble is worth about 45% what it was worth (to the U. S. Dollar) in April of 2014.
Back then it was going for about 30 to the dollar. In 1993, it was actually roughly equal to the dollar (although briefly). My how times have changed.
It was at 75 to the dollar in later December and now is at about 65 to the dollar.
It’s currency is about to be downgraded to junk status, and there isn’t much hope of it not getting worse.
Yes, all this will isolate Russia further. And the really asinine thing is, Russia despite it’s past, is a natural ally candidate for the West. We’re talking Caucasian people. We’re talking many Christians in the populace. We’re talking about whether the West or Asia provides more of a threat. We’re also talking about the Islamic threat, something the West and Russia also have in common.
Putin could have played the diplomatic card and improved his country’s lot in the global economy. Instead he pulled the nationalist card and invaded his neighbor. What an ignorant thing to do, for his people.
Now he has caused Europe and the U. S. to back away, and institute penalties.
This didn’t have to happen. The guy went off half cocked, and now can’t save face unless he escalates rather than becomes pragmatic and backs away from his chicanery.
It is just laughable to watch people act as if he is really a shrewd operator.
His oil reserves are worth 45% of what they were months ago.
Good luck Poopin, you really sat in it this time.
I agree.
Europe has only one place to look for blame here. And it’s never far away. There’s a mirror in every home, and probably every bathroom in the halls of power over there.
Correct
That is an interesting link, it will be interesting to see how this shakes out in the next few days, and if the defensive preparations to replace the gas lost in this Russian act of winter terrorism, was well enough along to make up the loss of Russian gas.
There were signs of cracks in support of sanctions, which evidently finally emboldened the desperate Putin. I think using energy yet again as a weapon is going to solidify and increase sanctions. Dr Evil strikes again.
Personally, as an American living in Europe, I had supported sanctions even when this threat was made against us last summer. I see this as more proof that relations with Putin’s Russia need to be redressed. This is actually very helpful in that regard.
Any short, medium or long term suffering is preferable to perpetual slavery.
I agree, I was there in the mid 1980s and supported Reagan all the way when he said enough, and said enough, submission is not an option when dealing with Russia.
The Russians are going to sell that gas to the Chinese.
In fact - as I understand it - they’ve agreed to sell so much gas to the Chinese that they couldn’t have kept selling gas to Europe.
This has been on the cards for some time.
Agreed. It’s a sign of Putin’s desperation. He’s fired his last bolt. The Euros will get throught this somehow and then look for long term alternative supplies and Putin will have lost his best customer forever. Way to blow a $100bn a year deal.
He’s rerouting the gas to China. He still gets paid.
Very interesting. Thanks for posting. BTTT!
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