According to the U.S. Energy Information Association (IEA), U.S. storage of Liquified Natural Gas (LNG) is 12% below the five-year average (LINK). Additionally, the IEA is expecting the U.S. to export 11.7 billion cubic feet of LNG per day during the fourth quarter of 2022 — up 17% from the third quarter. The destination of that export is Europe.
Consider that 43% of U.S. households use LNG for home heating, and power suppliers use LNG to create electricity. With the massive 2022 exports of LNG to Europe (+17% in fourth quarter alone), that means lower domestic supplies and increased prices here in the United States for electricity and home heating. We are seeing and feeling these massive price increases right now. As a result, consider this reality….
Not only are U.S. taxpayers directly paying for the majority of costs in Ukraine, but we are also subsidizing the European Union by exporting LNG and driving up the price here at home.
We are directly paying Ukraine, and indirectly paying Europe to maintain gas sanctions against Russia. This is the reality of the current situation as created by the Biden administration.
Now, consider this. The President of the European Commission, Ursula von der Leyen held a press conference in Brussels today, announcing five initiatives to contain the expensive EU energy crisis: “The goal is clear. We must cut the revenues of Russia that Putin uses to finance this atrocious war against Ukraine. And now our work is paying off. At the start of the war, gas from Russian pipelines accounted for 40% of all imported gas. Today it has dropped to only 9% of our gas imports. These are tough times. But I am convinced that Europeans have the economic strength, the political will and the unity to maintain the upper hand,” she said. The United States and Norway are the primary suppliers of gas to the EU to fill the void.
Commissar von der Leyden’s five initiatives include:
(1) Conservation of electricity through forced and mandated cuts in electricity use. The amount of the cut has yet to be determined but reducing demand through forced curtailment of electricity use is the first approach. [Insert California as an example here in the United States.]
(2) A cap on the profit generated by energy suppliers who use renewable energy like wind and solar. The renewable industry has lower costs, yet they are profiting from the top line increase in delivered electricity. The EU commissar is proposing to confiscate the profits of Green Energy suppliers, direct the funds to the member states and then use those funds to subsidize the energy costs of poorer EU citizens.
(3) A cap on the profits generated by traditional fossil fuel energy suppliers (oil, coal, nuclear, gas electricity generation), and the diversion of those profits following the same formula as above.
(4) Banking support and financial liquidity for smaller regional energy providers who are having short term financial issues as they must pay massive amounts of money for the raw material needed to generate electricity. Essentially, the cost of coal, oil and LNG has skyrocketed, and there is a lag between the time they energy company must pay for the fuel source and the time the customer pays the electricity bill. The inbound fuel costs (new) are so extreme the inbound payments for prior electricity (old) are not covering the cost of the new supplier purchase.
(5) A price cap on Russian natural gas. To accompany the increased import of Norwegian and U.S. gas. This sounds like a bizarro effort to manipulate the market which could backfire. If Russian gas is cheaper than EU market gas, the smart energy providers will purchase the Russian gas.
Not a single word about increasing the supply of any traditional energy resource. These ideologues are so committed to the cult of climate change and renewable energy, they are intent on destroying the economy in order to lower demand to the level of their windmills and solar farms. This is madness, absolute madness.
Here’s the presser:
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The inmates are running the asylum…
One ‘inmate’ didn’t get the memo
Europe nations are determined to “shrink their economies” to “shrink their energy use”
But not this gal:
“The way we will grow our economy is by attracting investment, keeping taxes low, and delivering the reforms to build projects quicker …”
Liz Truss latest: My plan will end energy crisis ‘once and for all’, vows PM
— promises more North Sea oil and gas drilling and ditches the fracking ban
— scrapping green levies on energy bills
— more nuclear power in Scotland
Cuz for every dollar pumped to the Ukraine, a percentage gets kicked backed to a range of “green” causes and progressive politicians…
“These ideologues are so committed to the cult of climate change and renewable energy, they are intent on destroying the economy in order to lower demand to the level of their windmills and solar farms. This is madness, absolute madness.”
This is the onset of neofeudalism. Feudalism in the sense of pre-capitalism (though really post-capitalism, hence the ‘neo’ prefix) and the revocation of economic agency at the individual level.
To the extent that we were ever anything other than artfully camouflaged serfs, even the illusory sense of generational advancement is being rescinded. Human betterment has proven itself to be one giant circle (jerk).
Everything once labelled social progress existed at the pleasure of the extenders of credit. They are abandoning this ‘largess’. Even worse, they are destroying the food and energy infrastructure made possible by this largess. Gen’l Tecumseh Sherman would recognize their scorched-earth tactics.
Those True Believers who subscribe to the environmental merits of the Green Revolution are propagandized, useful idiots, or as Jordan Peterson might call them, the ideologically possessed.
There is no unencumbered intentionality at the level of our politicians. They are reflexive water-carriers only.
It’s the Banker-Mesmerists above them who are INTENT on dovetailing energy curtailment with the inevitable collapse of a 350-year credit cycle.
Everyman prosperity is marked for extinction. The rationale for economic cessation is the false existential crisis of climate change. “You MUST resume serfdom or else humanity will perish.”
Many will accept this harsh assessment as gospel truth.
Fossil fuels (most likely not fossil at all) are plentiful as well as the indispensably cheap, efficient and nonsubstitutable blood supply of mass upward mobility.
The continued preoccupation with Tweedledum vs Tweedledee warming a seat in the Capitol amounts to a needless opportunity cost that few can offer at this late hour. Don’t dither folks.
As Macron so boldly states, “The era of abundance is over [for thee, but not for me].”
The WEF elites have said for some time that the earth needs 500 million to 1 billion people. They and their cohorts have made great progress toward that goal.
Remember reducing economic activity to fit their green fantasies will involve lots of people being killed.
“WEF” calls itself the “World Economic Forum,” but that is a misnomer. It dreams of imposing a “New World Order” with its so-called “elites” sitting on top of that “world,” but the simple truth of the matter is that it is not in control at all.
As Russia is calmly demonstrating with regards to energy, there really is still such a thing on this planet as a Sovereign nation. There are right now really only two: Russia and China. The USA dismantled its own industrial capacity to create a “rust belt,” and thus is no longer sovereign.
Other nations of the world have the unfettered ability to create their own economic alliances, their own interbank trading systems, their own mechanisms for extending credit, and in general their own multi-polar prosperity. And they are doing that even as we speak.
Fantasies of a “uni-polar world,” and a “new world order” with institutions such as WEF sitting on top, are just that – pure fantasy. The rest of the world isn’t going to “follow the ‘rules,'” and there is not one damned thing that “The West™” can do about it.
Very good comment. The “West” thinks its 15% of the world’s people under the “democracy” of Biden,Macron,Scholtz, VON DER LYING!!!, Least Trust(sic)UK, Trudeau et al are allowed (needed!!) to rule the other 85% who do NOT support sanctions .
The US is rehoming manufacturing as we speak, as companies are pulling manufacturing from China.
China has become unreliable, financially destabilized with rolling lockdowns and their bizarre real estate crisis hitting. Don’t bet on China.
Don’t forget the reduced fertility in every vaxxed country and the great eugenics policy of killing off the professional class in the west.
Depopulation
But the deaths will be passed off as resulting from monkey pox, or whatever gain-of-function infection a new Fauci and his EU counterparts hope to use for further control over citizens.
you wrote “This is the onset of neofeudalism”. I disagree, feudalism never ended in Europe: Soviet Bolshevism with its “communal” agriculture and peasants (serfs) tied to the communal farms is just that, while Socialism (be it practiced in the National or International style) with its internal passport control of workers is the same feudal system replanted from agriculture to urbanized industry. Now we are experiencing internal controls being established under the guise of COVID or similar national “emergency” in the US, as well. Except for the obvious racial angle East European serfdom is barely different from US plantation slavery, (I say plantation slavery for there was also another form of white bondage).
I think we’re in broad agreement, Hyportnex.
The epoch of capitalism (and with it, Republicanism) is sandwiched between Feudalism and Neofeudalism. And yes, arguably you could suggest it only *seems* like a sandwich. In fact plebian emancipation was a mirage during which ‘they’ never lost control.
“Don’t dither folks.” Ok, I’m done “dithering”. Just what would you have me do?
Brownshirts = Greenshirts
And, watermelons = brown shirts. Watermelons are green on the outside & red inside, for the benefit of those not familiar with the descriptor.
Not to forget cute little Greta’s statement “[Deniers] should be lined up against the wall.”
That little b!tch needs to be dragged behind her damned sailboat all the way across the Atlantic. Let her drown in the deep blue sea and feed the sharks.
Who made that evil autistic imbecilic nobody the ruler over the Western world?
And before you roast me, my son is also autistic. But he doesn’t feel the need to display his disability on the world stage as a SHIELD against criticism for ANTI-HUMAN activities.
Her parents did the same thing that groomers do convincing their kids they are trans.
Results of Carbon groomers
The effectiveness of the Obama Administration’s influence in selling eutopia to the world and the Biden Administration’s destruction in managing its implementation is absolutely breathtaking. These people are creating a chaos that will be on the scale of the Great Depression.
They, with their limos, fine china and in their palaces, can pack sand. We’ve had enough of their bulls#@t!!!
So what is your solution Rosco?
Mine is with tacticalcivics.com
so does tactical civics include things like finding out who knows how to turn off the electricity in certain residences?
Listen to the Lex Fridman interview with Liv Boeree from Aug 24, 2022 (can find it on any podcast platform or YouTube) – they discuss AI, Game Theory, etc. They bring up an interesting term – the “Clickbait Industrial Complex”.
Liv makes this statement (copy and pasted from a site that did an AI transcript of the audio):
“we’re in a civil war. It’s just not a physical war. It’s it’s it’s a it’s an information war. And people, people are becoming more fractured in terms of what their actual shared reality is. Like truly like an extreme left person and extreme right person. Like they literally live in different worlds in their in their in their minds at this point and it’s getting more and more amplified and this this force is like a like a razor blade pushing through everything. It doesn’t matter how innocuous the topic is, it will find a way to split into this, you know, bifurcated cultural and it’s terrifying”
I think she’s absolutely correct. I’ve spent a lot of time in people’s homes lately. The only people that are still concerned with masks are black people (it’s prob 5% of the black people), however, they’ve worn them or we talked outside and I’ve yet to put one on. It’s psychological warfare that’s being done to create A B positions on everything in order to divide the population.
I truly believe history will look back on this time and label it the Information Age Civil War and it’s origin (like the Ferdinand assassination to WWI) will most likely be the FBI counter-intelligence investigation on PDJT with Obama Term 1 and 2 actions as precursor’s.
These wars always target the innocent not the perpetrators. When lack hits it needs to first be felt by the perpetrators.
I’m sure more and more people refuse to use police now because it opens them up for investigation into their private life. Another symptom of the Obama agenda.
People run for office now to control others and leave responsibility behind. Not just Democrats.
The principals of human nature are evil, allowed to go unchecked or uneducated it breeds death. The highest form of education comes from the Bible, all others are additional. When you know Gods word and his spirit the addition of any other knowledge becomes a gift to humanity. It’s why colleges have lost all reason in there programs. No foundations of “why”. Money is not a reason, it becomes a curse without meaning.
I would imagine that if there were deep studies of Gods word offered in schools, not even mandatory, that a very large percentage of students would begin to participate over a short time. I’m not referring to religious studies, the study of Gods word in depth. Religion is not God, it actually excuses away the aspects of his power in us.
The results of Gods principles would show and people would understand why Gods word was given to us.
What people don’t understand is Gods word and a relationship with him enhances our lives not diminish. It’s not the “don’t” it becomes the “I don’t want to”. Everything becomes brighter in Gods light, more appealing. It’s also why the enemy attacks it so.
Evil is quickly recognized and left to die. It may always be in the same spot but you must give it life. Just like Gods word. Once you ingest it, life is imparted unto you, shared it brings life to others. Why not eat of the fruit God offers?
Enforce existing environmental laws. Pressure India and China to reduce emissions (dont know the current stat, but ~15 yrs ago, China was bringing a new coal fired power plant online every two weeks). Continue to OBJECTIVELY monitor/study the environment. And dont tell me “the science is settled”. Science, by design, is NEVER settled! Establish safe but reasonable nuclear power oversight to allow construction and production. And drill. Permit pipeline construction. Permit new oil refinery construction. Return the US to energy independence. Allow the market to determine when “renewable” energy sources are profitable, not my tax dollars. And finally, allow consumers to purchase the damn car they want. EV’s cannot haul freight, have limited range and there is scarce infrastructure for support. EV’s cradle to grave life cycle carbon footprint is far worse than that of a gasoline powered vehicle. Not to mention the economics. At this point, and in tbe foreseeable future, EVs are simply not doable, and without our tax dollars subsidizing their production and purchase, they are too damned expensive for what you get. Did you see Biden’s motorcade is going 100% EV? Neither did I.
Fossil fuels Mike.
We produce and burn CNG from the Hugoton Embayment of The Anadarko Basin. 36″ pipeline across our land. Surplus is sent to the ports to make LNG for export. LNG is low temp liquid
Timely analysis by William Engdahl:
https://www.globalresearch.ca/europe-energy-armageddon-from-berlin-brussels-not-moscow/5792005
NordStream 2 sits ready but idle simply because the politicians won’t turn it on. NordStream 1 can no longer be operated due to mechanical issues with now all of its turbines. Repair parts are stuck in various places and will not be delivered. For very obvious reasons, Gazprom’s engineers will not operate equipment that has become unsafe and therefore dangerous.
But meanwhile, Russia is continuing to sell oil and gas to other markets, enjoying the greatly-increased prices caused by the sanctions. An attempt to isolate Russia from The West’s™ financial systems is simply causing the very rapid development of new financial systems and the rapid construction of a multi-polar world.
“Whaddaya mean ‘we,’ paleface?” 🤡
For all the fantasizing that the WEF and people like Klaus Schwab are now doing, about a “rules-based new world order” with (of course …) them making the rules, their own actions are simply accelerating the permanent demise of their fantasies and the destruction of their self-imagined “power.” They do not represent the real “world” at all, nor do they control it, nor will they ever.
In the end, the German armies in Russia were defeated by winter. These foolish “elites” will be defeated by winter, too.
The people of the EU have been given the the “Big Picture” of the climate change lobby, will they submit or will they revolt ?
I’m thinking the people are going to be throwing some bums out of office.
Like it or not, “sanctions” against Russia are not weakening Russia – in fact, they are making her stronger and wealthier.
Unlike “The West,™” Russia did not dismantle her industrial capacity after World War 2. The USA, per contra, created a “rust belt.” Russia has vast natural resources which can be sold everywhere in the world … in Rubles and Yuan.
It is not possible to supply Europe’s energy needs by ship. The only way to get the resources where they need to go is by pipeline. And it is no one’s fault but Europe’s that their sanctions have resulted in the technical necessity of shutting down the NordStream 1 pipeline. A high-speed, high-pressure turbine cannot be run without lubrication: it would become a bomb. Germany is actually sitting on a replacement turbine but won’t deliver it.
“Western Elites™” are so accustomed to getting their way in everything that the only thing they now know how to do is to “double down.” But eventually their own people will turn against them to literally avoid freezing to death. Russia holds all the cards here and Europe has none to play.
Eventually, Europe will have to “blink.”
I care NOT AT ALL about the greedy, interfering USA which has caused most of the problem, BUT to pretend US energy will solve it is madness, to give ANY credit to Ursula von der Crazy, the unelected Fuhrer of the EU, who thinks the EU imports are essential to Russia (which has MANY clients, much more reliable, courteous and in need than the EU). Russia only “invaded” Ukraine after 8 years of trying to negotiate, refused by the US-backed Nazified actors in Zelenskyyyy’s “government”.
Yes, the US dollar and EU dollar as reserves are being diminished.
So what do fiat currencies do to protect their economies?
They do things like this.
Everyone is choosing sides and it’s not just about energy Sundance.
I work and I live in an apartment building.
I assume the landlord will be turning the heat way back this winter. Of course.
I would like to retire, but I think I may need to go to work to just get warm.
The politicians will undoubtedly be creating “warming centers” in the cities of North America and Northern Europe. You go to some gymnasium, carrying your blanket, and huddle on the floor. And the swine politicians will expect gratitude for this. They truly will.
When I was young (I’m 65) it was commonplace to read stories about poor families (country people or ghetto people) destroyed in house fires on cold nights. They tried to stay warm with space heaters or wood stoves. It killed them.
The number of house fires will skyrocket this winter. And the stinking news media will profess no understanding of why..
Femi-Nazis like this are a problem…
Video will be material for election ads and the sooner the better!
They, the “elites” don’t suffer, and thru advanced word and various market manipulations, they will profit. In a brave and sane and just world the next time there is a “meeting of the elites” in Davos or Brussels their world would come to an end.
So the bigger issue here, IMHO, was spelled out by Putin a couple of months ago in his speech at St. Petersburg. For many reasons, not least of which is his term neo-imperialism (the West’s money printing), Putin is proposing F. Hayak type sound money. In short, a currency that is pegged to a market basket of goods or ‘mercantile currency’ read your Hayak. Anyways, if Putin is successful in creating sound money the West will have 3 options (1) adopt the new sound currency, (2) adopt sound money policy themselves, e.g., balance budgets and stop printing money, and attempt to peg the currency to the sound money or (3) destroy the other sound money. And Putin is well on his way, large gold reserves (which he used to peg and short up the ruble), a budget surplus (imagine that?), and payment demands in ruble. And our corrupt and stupid leadership in the West is making it all happen even faster. And this leads me to this fearful conclusion: What is more likely to happen (1) our Congress is going to balance the budget (a massive cut to the welfare state in all forms) and the Fed will stop conjuring money or . . . (2) DC and the ‘West’ will attempt to destroy the sound money – which means subjugating the Russians which IMHO means a nuclear exchange. You see, at the end of the day, nothing stands behind our fiat currency except the US military’s capability to blow your stuff up and then we pay you in fiat for the stuff. Putin is saying he (and the rest of the world have had enough) he is demanding payment in Rubles.
So she wants to confiscate the profits of Green Energy suppliers … and give those profits to the states to give to poor people???
OK, so what’s the incentive for a company to run when all its profits are confiscated?
First, the owner and his favorite people would give themselves a HUGE RAISE (a huge chunk of what would otherwise be profits)!
Secondly, just like California pays off its donors instead of increasing electrical infrastructure, one can only IMAGINE to whom all those confiscated profits would go!
Well, you know, The War always – always – winds up coming home. And so it goes, or as the Germans might say, “So geht es.”
Or, perhaps it is worthy of consideration that The War was always – always – against us? This certainly appears to be the case at the present time. We started out in 2016 as A Basket of Deplorables, and of late we are called Domestic Terrorists, so why not drop the pretenses and just denominate us as The Enemy?
Time for a protectionary tariff on natural gas to keep the US prices down for its citizens. It is not our responsibility to once again save the Europeans from their stupidity.
LACK OF PLANNING ON THEIR PART DOES NOT CONSTITUTE AN EMERGENCY ON OUR PART!
I’m tired of paying for everyone and everything else but me and mine.
Sundance, we use natural gas NG for heating in this country, we do not have to go to the expense to liquify the gas to make LNG. A much more costly and less efficient process than what we have here. The Russians were providing Europe with NG not LNG.
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