Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
WH PRESS SEC, JEAN-PIERRE?: [@00:19:42] Aurelia, are you able to say yourself?
AURELIA END [AFP]: Can you hear me now? OK, thank you so much for taking my question. My question is about EU energy situation. We're hearing a bunch of European leaders sounding the alarm about the up-coming winter. The EU is going to hold emergency energy talks next week. So I was wondering, how concerned is the White House about this, and is there more the United States can do? And maybe on a broader scale do you feel this could undermine the popular and politic support for Ukraine in Europe?
JOHN KIRBY: Well, each European nation really has to speak for themselves with respect to what everver energy shortages in the fall and winter might have on their support for it. All I can tell you, is what we see from a diplomatic perspective, what we see on the economic fund, frankly, what we see on the security assistance front, um is an impressive, absolutely unchanged sense of resolve and unit of support for Ukraine. But every nation's going to have to speak for that, for themselves.

Well, yes, we're concerned about the manner in which Mr Putin has weaponized energy. Yes, we're concerned about energy, potential energy shortages in Europe as the winter approaches. That's why the president stood up for a task force to try to improve and expand sources of uh energy for the European continent. And while we continue to work with distributors and energy companies around the world to try to alleviate whatever shortages might be in place, might be coming going forward. And this is something we're staying focused on as the fall turns to winter, and we'll be latched up with allies and partners throughout to try to do what we can to alleviate any shortages. But, again, in terms of unity and resolve, we've just seen nothing but determination to continue to support Ukraine. I think everybody understands what the stakes are here. ###

by Cat on Wed Aug 31st, 2022 at 05:49:15 PM EST
RF presses note with interest.

WaPoo | White House alarm rises over Europe as Putin threatens energy supply, 11 Sep trolling

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.
AURELIA END [AFP]: Can you hear me now? OK, thank you so much for taking my question....
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 mid[-]term elections this fall.
archive Joe Tzu energy independence quarter
The outlook in Europe has deteriorated with SRUPRISING 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 [RUSSIAN] natural gas for fear of provoking PUTIN, and it's not clear that [G7] international [racketeering] could withstand a truly dire energy crisis.
so sad, too bad
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.
archived U.S. LNG exports into Europe increased by 2240%
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 [progressives' darling] 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....

KIRBY: Well, each European nation really has to speak for themselves.
by Cat on Mon Sep 12th, 2022 at 01:30:15 AM EST
[ Parent ]
Well, each European nation really has to speak for themselves.  😂

Unity, solidarity of NATO in facing off with an evil Putin. Energy costs for Europe €2 trillion ... add cost to rebuild the #Ukraine 🇺🇦... Joe did it, reaping benefits fossil fuel corporations and Europe needs advanced weapons for their defense ... eternally grateful ... Pentagon, Five Eyes. UK and EU-27 united in policy. Long live King Charles III.

#EUdeathtrap #Blitzkrieg #MerkelGone #MAGA #capitalism #SocialDemocracy = #Communism

'Sapere aude'

by Oui (Oui) on Mon Sep 12th, 2022 at 01:48:55 AM EST
[ Parent ]
For now, however, Treasury officials are publicly < eyebrows > adamant that Putin will not follow through with that threat. They also note that Europe had been planning to implement a full embargo [sic] on Russian oil, and that the price cap presents an opportunity for the Kremlin to continue to supply world markets.

"Russia may bluster and say they won't sell below the capped price, but the economics of holding back oil embargo just don't make sense," Deputy Treasury Secretary Wally Adeyemo said Friday.

By Jeff Stein
Jeff Stein is the White House economics reporter for The Washington Post. He was a crime reporter for the Syracuse Post-Standard and, in 2014, founded the local news nonprofit the Ithaca Voice in Upstate New York. He was also a reporter for Vox.

Laurel&Hardy, Abbott&Costello, Ren&Stimpy know who's on first, what's on second.
by Cat on Mon Sep 12th, 2022 at 10:55:45 AM EST
[ Parent ]
yahoo! oilprice | Record U.S. LNG Exports To Europe May Not Last, 9/11 "Nordstrom"
When President Joe Biden promised the European Union there would be enough natural gas for its winter, EU politicians rejoiced and doubled down on Russian sanctions. A few months later, EU gas storage is full ahead of schedule.
Taiwan "tensions"
Meanwhile, however, LNG prices have soared like an eagle, China is re-selling Russian LNG to Europe, and gas prices in the U.S. are three times higher now than they were a decade ago and up 95 percent on the futures market for November 2022 to March 2023.
Then there is the price issue. Right now, U.S. LNG is competitive because of the insane curve the European gas futures market has been following as [The Turbine emotional support] squeezed Nord Stream 1 shipments in response to sanctions. But this does not mean U.S. LNG is cheap.
Mommy. What is "perfect competition"?
Above my pay-grade or under my price cap, Sugarpuff. You be the judge. But don't be judgmental.
Now, there is another price issue in the home of U.S. LNG....investment firm Goehring & Rozencwajg forecast that U.S. natural gas prices were about to take off after European ones before too long.

The reasons for the surge were overall [is a garment; over all is a preposition and its object] tight gas supply and U.S. producers' new central role as biggest suppliers to Europe. Also, Goehring & Rozencwajg predicted U.S. gas production was nearing a plateau.

archived Granholm imploring seven major refiners to limit fuel exports
What this means is that the [US] governors asked Washington to reduce exports and redirect some LNG to local consumers.

Granholm's answer to the governor, per the FT [!], was to say ...there were not going to be any "blanket waivers" from the Jones Act that effectively restrict transport between U.S. ports to only vessels that are U.S.-built, U.S.-flagged, and U.S-crewed. In other words, no foreign-flagged vessel could load LNG in Texas and ship it to Maine, which limits New England's options.
For now, there are no indications that the administration is prepared to pressure LNG exporters into keeping more of their gas at home, not least because exports are already constrained by the Freeport LNG outage.< wipes tears >

archived Step 3. SUCKERS!
by Cat on Mon Sep 12th, 2022 at 01:27:08 PM EST
[ Parent ]


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