Russia oil problems. Nordstream. Biden banning gas and other energy exports. etc
How bad do you think it’ll get?
‘Disastrous for Europe!’ Biden to ban gas exports as EU scrambles to avoid Putin’s squeeze
US President Joe Biden is reportedly planning to halt gas and other energy exports, in a bid to lower fuel prices at home. This move could end up throwing plunging Europe into further chaos, as countries, including the UK, scramble to secure additional energy supplies for this winter. As Russia gradually ends its supply of gas to the European Union, countries that were heavily dependent on Moscow for gas have now been left scrambling to find additional suppliers before winter, or face blackouts. Even countries like the UK, which did not import much gas from Russia, face a crisis this winter as the competition for gas begins to grow.
This competition could get worse in Mr Biden, under pressure ahead of the US midterm elections in November, decides to limit US fuel exports in a bid to lower prices.
Giovanni Staunovo, a commodity analyst tweeted: “White House officials have asked the US Energy Department to analyze whether a ban on exports of gasoline, diesel and other refined petroleum products would lower fuel prices, even as top oil industry trade groups warned the Biden administration the move could backfire.”
NEW – "Green" Europe is leaving the poor countries of Asia without LNG, which find themselves in an even more severe energy crisis, including blackouts.t.co/Xwx2VKvJmQ
— Disclose.tv (@disclosetv) October 5, 2022
Good Morning from #Germany, which is not benefiting from the weak #Euro. The export nation's trade balance slipped to a slim €1.2bn in Aug because imports are becoming more expensive & exports are not growing accordingly. The terms of trade are thus deteriorating sharply. pic.twitter.com/mSZ58co88N
— Holger Zschaepitz (@Schuldensuehner) October 5, 2022
AC