Podcast: We must wake up from the Green Madness

[dan_s]

Watch this video: https://www.youtube.com/watch?v=0IGMNDBFx7w

I am on the road this weekend, so no podcast from me. The one above will give you an idea how bad the situation will be in Europe this winter.

I will focus on the newsletter on Monday and we have a live webinar on Weds.

[dan_s]

The United States has emerged as the biggest supplier of natural gas to troubled Europe, as the latter first slipped into a gas crunch after demand outstripped supply last year. Then it slapped seven packages of sanctions against Russia—its main supplier—for its invasion of Ukraine.

U.S. gas, liquefied and transported to the LNG import terminals in Europe, has been instrumental in filling up Europe’s gas storage caverns ahead of schedule. At the same time, it has highlighted Europe’s vulnerability in the gas supply department: it has virtually no alternatives to U.S. gas, and this has pushed its gas bill ten times higher than what European countries normally spend on gas.

[dan_s]

“We are beginning to see a lag in storage builds that could lead to a precarious situation during the draw season in the event of a harsher-than-expected winter,” Neal Dingmann, energy equities analyst at Truist Securities, told the Wall Street Journal.

“There is potential for a winter U.S. superspike in natural gas prices.”

A superspike in gas prices in the U.S. will be really bad news, and not just for the U.S. consumers. Europe literally depends on American liquefied gas as it seeks to sever all trade ties with Russia.

https://www.zerohedge.com/energy/climbi ... rts-europe

[uberCOAT]

Russia is burning an estimated $10 million worth of natural gas a day near its border with Finland,

https://www.cnn.com/2022/08/26/energy/r ... 0countries.

[dan_s]

Is anyone in Europe open to negotiating a peace deal with Russia?