For unknown reasons, Europe waited until now to decide that they’re going to force Russia to cut their energy supplies.
Everyone knew that if you pushed him hard enough, Putin was going to say “oh okay, I guess you don’t want this oil – okay, bye.”
But they pushed him into that.
This is like, totally retarded.
What are they doing?
The Washington Post is totally ridiculous:
White House officials are growing increasingly alarmed about Europe’s energy crisis and Russian President Vladimir Putin’s threats to force a bleak winter on the continent.
Seeking to punish Russia for the invasion of Ukraine and force a retreat, Western allies have moved to set a cap on what buyers pay for Russian oil. Putin last week said Russia would retaliate by cutting off gas and oil shipments, which could devastate Europe’s economy and hurt the United States by sending global energy prices soaring.
U.S. officials believe Putin’s bellicose rhetoric is at least partially a bluff, as Russia needs revenue from energy exports to finance its war effort, even at lower prices.
Yeah – they can just sell it to China.
China got a 50% discount, and they’re buying as much as they can get their hands on.
But aides to President Biden have in recent days reviewed their efforts to export liquefied natural gas to Europe, aiming to see if there’s any way for American producers to help. (Nearly 40 percent of the natural gas Europe uses for heat and electricity came from Russia before the war started.) And while White House aides do not believe a recession in Europe would necessarily cause one here, a complete shutdown of Russian oil exports would seriously harm the U.S. economy, according to economists, energy analysts and internal White House assessments.
The escalating pressure from Russia could put new strains on a U.S.-Europe alliance that has proven surprisingly resilient since the start of the war, while also threatening to cloud the Biden administration’s recent economic victories ahead of the midterm elections this fall.
Some economists and Wall Street analysts have said inflation may be peaking after an encouraging federal report for July. Administration aides, though, are worried that the situation could get worse again quickly if Putin cuts off oil and gas shipments, said two White House officials, speaking on the condition of anonymity because they were not authorized to speak on the record.
Yeah, well – that’s really convenient that the Bidens printed a bunch more money but now they have a new excuse as to why that isn’t a long-term solution.
The outlook in Europe has deteriorated with surprising speed in recent weeks. The European Central Bank raised interest rates by .75 points this past week, with officials saying they expected a “substantial slowdown” there this fall. Some European governments are resisting attempts to set a price cap on natural gas for fear of provoking Putin, and it’s not clear that the international economic sanctions on Russia could withstand a truly dire energy crisis.
That sentence is garbage. Here: it is clear that the international economic sanctions on Russian could not withstand this current self-inflicted energy crisis.
Publicly, Biden administration officials are playing up good economic news at home. Biden and Treasury Secretary Janet L. Yellen embarked on a victory tour last week to tout a string of legislative victories — particularly the Inflation Reduction Act, passed with Democratic votes only — aimed at large-scale changes in the U.S. economy. Their sense of optimism has been buoyed by a dozen consecutive weeks of falling gas prices. Jobless claims have also come down in recent weeks, allaying fears of an imminent recession, and voter anger over inflation appears to be at least somewhat calming, helping Democrats’ poll numbers improve.
This is so dumb.
The economy is not better. Saying “we fixed the economy by printing money” is like saying “I fixed my depression by shooting fentanyl.”
And the anti-Russian sanctions are good for Russia. Yes, cutting the gas would cause them some temporary pain, but it will cause Europe to simply collapse.
Anyway, I support this retarded and insane stuff the Jews are doing.
White House officials — and most economists — believe the growing likelihood of a recession in Europe is unlikely to change under the current trajectory. One senior administration official, who spoke on the condition of anonymity to reflect internal assessments, said the Treasury Department and Council of Economic Advisers estimate that the impact on the U.S. from a European recession would probably be “modest and manageable.” Trade with Europe accounts for less than 1 percent of U.S. gross domestic product, and many economists agree a decline in European consumer demand probably would not substantially affect U.S. firms. America also produces enough of its own natural gas not to be significantly affected by Russia restricting its flow into Europe.
Actually, that’s not even the way this works.
Energy markets are global markets and the US is signed onto all these treaties where they can’t do protectionism. Also, Biden is literally saying he is going to ship LNG to Europe on boats to replace all of the gas they’re not going to be getting from Russia.
If Russia keeps selling oil to world markets and only reduces gas exports to Europe, the effect on the U.S. economy probably would be minimal. In fact, that could help U.S. firms that produce natural gas. It could also sap global demand, further alleviating domestic price pressures.
“If Europe goes into recession, there’s obviously less demand for a wide range of products,” said Dean Baker, an economist and co-founder of the Center for Economic and Policy Research, a liberal think tank. “We’re in such a perverse situation here it may actually be positive.”
U.S. options for helping Europe through its energy crunch may be limited. Already, the Biden administration has overseen a massive expansion in how much liquefied natural gas is shipped from U.S. frackers to Europe, with roughly 70 percent of U.S. export gas now going to Europe, according to administration assessments. The United States is already surpassing its goal of transporting an additional 15 billion cubic meters of natural gas to Europe this year. Since March, U.S. firms have delivered 30 billion cubic meters to Europe — more than twice the amount over the same period of time last year, administration officials said.
Here’s the natural gas consumption of Europe:
We’re still at 400 billion cubic meters.
What does 30 billion do?
Europe is going to reduce its gas consumption to a fraction? How?
This isn’t even serious. These people are liars, and the Washington Post is lying by pretending this is nowhere near as bad as it is.
Europe is being forced into an economic recession over a border skirmish in the former USSR. This is lunacy. It doesn’t even make sense as a play against Russia.