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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
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