Putin signs decree that from April 1 all European energy consumers must pay in Rubles or be cut off
carlplanetb
No April fools there but the foolish game of blind mans bluff played by Germany and co’s governments .
Will the EU zone continue throwing pigeons at the cat, or will they muster up some sensibility?
Inflation is surging and undermining industrial competitiveness in Germany, with it now over 7% in a number of the so called European powerhouses.
Gas prices spiked on the news but this may be the thought of US gas been used to replace gas to Europe. The problem here is the gas being converted to LNG and shipped to Europe is akin to putting a plaster on someone who has been mauled by a bear for 20 minutes.
You simply cannot replace the amount of gas Russia provides Europe in a matter of days, weeks, months or even years.
It is going to be interesting to see how the Europeans react.
This has just slapped another layer of stupid on Ardern’s gas exploration ban. Our gas supplies are getting lower, we have no LNG plants in NZ so when it comes time to import, we will need to spend billions on equipment to be able to receive LNG and we will pay a much higher cost for the gas.
If you have time this Viva Barnes sidebar with George Gammon is very interesting on the economic woes that will come from beating up Russia with sanctions. Warning, it’s a long one but a goodie..
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