“In the short term it will be painful for the EU, but in the long term it will hurt Russia, because once weaned off Russian oil and gas, there is little reason for the EU to ever go back, so Russia is essentially throwing away their largest and closest market. Eventually countries like China will probably fill the void and purchase cheap Russian petroleum, but that’s not like just flipping a switch, it will take at least a decade to build the infrastructure and pipelines over thousands of miles to make shipping large quantities of oil and gas to China economical.”
A very clear, logical and coherent posting.
Scholz will be in the middle east this weekend to sign long term LNG deals. That locks Germany into non-RuZZian sources.
“… once weaned off Russian oil and gas, there is little reason for the EU to ever go back…”
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Little reason? I guess COST and AVAILABILITY doN’T fit the CURRENT EU leaders’ definition of a reason. After all, why should they care what the European PEASANTS pay for energy. I guess it’s not occurring to them that the composition of EUROPEAN GOVERNMENTS CAN CHANGE.
TIME WILL TELL, won’t it. TICK, TOCK.