All good news, european industries are going down the toilet; inflation, low productivity and increased arms expenditure will eat away their wealth and remaining power... China can forget about CAI, 10 yrs down the track Eurozone will be back in the Dark Ages that CAI will have absolutely no value for China, while Eurozone still have to buy our goods as their industries will even be more hollowed out.
Europe has had no viable long term strategy or proper energy policy for a long time already. Cancelling NordStream 2 was a mistake. Europe's own supplies of natural gas are decreasing and the economy was thawing back after a massive shutdown with COVID-19.
France has been working on their nuclear program for a long time but it is seriously stalled and will not be ready for a decade at least.
Germany and Italy are seriously addicted to natural gas. Germany can still try to reopen old coal and nuclear power plants. But they refuse to even do that. Italy is basically going to siphon natural gas that would otherwise go to Spain. The UK has been dithering on building some nuclear power plants for like a decade. Had they actually approved them they would have likely been built already. Their latest masterstroke is they want to remove China as a financier. Mind you, they already removed Chinese companies as the builders, and the reactor design was French in the first place. So they don't even want to take China's money. Which is great I guess. For China.
Oh and if you think renewables will solve anything do try reading the UK's energy review made by the previous UK government. Going full hog on renewables is not economically feasible. You can get up to like 30%. Maybe even 40%. But you will need storage or gas to load level. And Europe is using lots of gas. Which won't be available anymore. At least not at the same price.
Europe is seriously behind on electric vehicles, so they cannot significantly reduce their oil consumption either. They will likely have to import electric cars. Europe's battery industry is anemic. And while European deposits of lithium do exist they are not being explored. You can't build mines quickly. And like I said who will make the batteries? CATL? LG Chem? Panasonic? They will likely continue relying on dinojuice. Except it will come from the oh so stable Middle East.
I see a grim future for Europe this next decade. It will be basically turned into a giant Ukraine as spoiler for the US-Russia proxy war.
A zombie "superstate" drip fed with enough supplies by the US to counter Russia's conventional forces in Europe.
The social state will be dismantled in the name of war with Russia. Trade between Europe and the US will be harmonized against Europe's interests. The deal they signed with the US where the US gets to keep EU citizen Internet data is just the first step.
How Europe's leaders signed up for this, ahem, great deal is anyone's guess.
That is just paranoia. They have been claiming Russia will do a mass mobilization since this invasion started. Still not there yet. And they would call reserves before that.
Bruh.. if you were so stupid to believe that bs you deserved to be robbed
No kidding. They stole Venezuela's Central Bank gold in the UK, their refineries in the US, and Afghanistan's USD reserves. They cut Iran from SWIFT.
In recent years, oil and gas alone accounted for 35-40% of the federal budget revenue and made up 60% of Russian exports.
Wrong.
The European Parliament has already passed a resolution demanding an embargo on Russian imports of fossil fuels.
EuroParl cannot pass binding resolutions on anything. It is basically a rubber stamping operation for either the Commission or the European Council. Those are the institutions with real political power in the EU.
As Europe joins the US and Canada, the united West will mount pressure on China – thus eliminating Russia’s hopes that China’s money and technology can replace those of the West.
They already are. And while this might be true in the long term in the short term doing this would be economic suicide.
How soon this economic shock will result in political change is anybody’s guess. But eventually, Putin will run out of resources to pay his soldiers, propagandists, mercenaries and policemen to keep the increasingly unhappy Russians in check.
North Korea is in their third generation right now I think. Putin will probably die of old age just like Castro.
One use for gas that doesn't require end user distribution is gas to liquids or gas to chemicals plants. Once liquid fuel or chemical it can be distributed via conventional liquid fuel network.
For what? Diesel? They have oil for that. Plastics? They were doing that but in collaboration with European industries so it is likely dead. Fertilizer? Already a major exporter. Use the cheap energy to process ores into raw metals? Already being done. Mind you there is little Russia could do which it isn't doing already. I think they could improve their energy efficiency in converting their gas into energy i.e. electricity and heat. But that would only result in more gas. What they need is to figure out a way to ramp up gas exports via either LNG or piped gas to China and India, and whoever else wants to buy it. And they need to sort out the situation with their navy. Because you can bet after these idiots in the West figure out what they have done, they will try to do naval blockades and piracy on the high seas next. I mean they do it to Iranian and North Korean ships. All the bloody time.
