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'

[...]
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.

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.

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.

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.

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 >