Posted on 03/28/2022 7:08:14 AM PDT by marcusmaximus
The Group of Seven major economies have agreed to reject Moscow’s demand to pay for Russian natural gas exports in rubles, the German energy minister said Monday.
Robert Habeck told reporters that “all G-7 ministers agreed completely that this (would be) a one-sided and clear breach of the existing contracts.”
(Excerpt) Read more at apnews.com ...
Lol!! This a great thread. I have been laughing all morning.
I read they will be seriously hurting for electricity. Hopefully they can do some victory farming of their own.
Some are predicting riots this summer.
Even if there were an infinite supply of gas ready to go in this country, how ya gonna get it there?
Read this:
https://market-ticker.org/akcs-www?post=245518
I already invested heavily into energy, anticipating all of this.
Russia has lot credibility as a military power, economic power (GDP size of Spain, per capita only half of Spain) political and diplomatic power and moral power.
“While the US establishment wants Russia to collapse, Russia wants to see the United States a strong and smart country rather than a final refuge for those who are gradually slipping into senility,” Medvedev said...
Good for you!
It has gotten very expensive for us. And we rely on propane.
The existing contracts are super-lucrative. I guess Putin is open for new contracts if the initial conditions are rejected, but they are going to pay actual market price.
No...the Qataris are playing their cards close to the vest rn, but its fairly easy to see how the Europeans will end up circumventing Biden's sanctions while maintaining the fiction they're complying.
Maybe they’re counting on Global Warming to heat things up so they won’t need Russia’s gas?
The German government just told the people to wear more sweaters if they’re cold.
I agree that EU will most likely buy gas from a middleman and pay more.
The press will conveniently leave out that it is Russian gas.
An excellent point. What is certain is that the universal law of value for value cannot be overturned by unicorns and bluster.
“To eventually replace 30% of what they get from Russia.”
It’s only 10% (15bcm of 155bcm) and that will be stocks redirected from Asian customers.
Sending the price of gas soaring.
I wonder how quickly the EU can build storage tanks.
Thanks, lots of details at article. I guess no one told Biden before he made grand promises. He was all show anyway.
lol
Incredibly stupid. Biden admin need to punish Putin is causing s lot of suffering in the west.
Biden is no longer caring about America. Instead he is caught up in his hatred of Putin. Perhaps his son?
We don’t even have a bad leader. We have no leader.
Russia has a leader. I envy them.
I am concerned that we will ever be offered anything other than a RINO. It looks gloomy ahead.
“The G-7 declared economic war on Russia freezing their assets, destroying their economy, and crushing their currency. So now contracts mean something? You don’t cancel major countries like you do individuals in the West or small powerless countries. Biden is using Tik Tok against Putin. The Biden Administration is living in a fantasy world.
We have stumbled into a new Cold War. No one seems to care or notice. It is a profound development that will alter the geopolitical landscape for decades to come. The Law of Unintended Consequences portends bad news for all of us.”
~~~~~~~~~~~
FREEPERS: Bookmark Kabar. He knows of which he speaks.
Kabar: “Failed diplomacy impacts events for generations.”
https://freerepublic.com/focus/news/4050067/posts?page=60#60
I recall that heat energy in northern states is mostly from oil, natural gas, and propane. Electric heat is less common and an as such requires much less electricity generated compared to air conditioning, so power companies take the generating stations off-line during the winter for maintenance to prepare for summer demand.
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