Friday, September 2, 2022

Europe’s Energy Armageddon from Berlin and Brussels, Not Moscow/ William Engdahl

On August 22 the exchange-traded market price for natural gas in the German THE (Trading Hub Europe) gas hub was trading more than 1000% higher than a year ago. Most citizens are told by the Scholz regime that the reason is Putin and Russia’s war in Ukraine. The truth is quite otherwise. EU politicians and major financial interests are using Russia to cover what is a Made in Germany and Brussels energy crisis. The consequences are not accidental.

It is not because politicians like Scholz or German Green Economy Minister Robert Habeck, nor EU Commission Green Energy Vice President Frans Timmermans are stupid or clueless. Corrupt and dishonest, maybe yes. They know exactly what they are doing. They are reading a script. It is all part of the EU plan to deindustrialize one of the most energy-efficient industrial concentrations on the planet. This is the UN Green Agenda 2030 otherwise known as Klaus Schwab’s Great Reset.

EU Gas Market Deregulated

What the EU Commission and government ministers in Germany and across the EU are carefully hiding is the transformation they have created in how the natural gas price is determined today. For almost two decades the EU Commission, backed by the mega banks such as JP MorganChase or large speculative hedge funds, began to lay the basis for what is today a complete deregulation of the market for natural gas. It was promoted as the “liberalization” of the European Union’s natural gas market. What it now allows is for unregulated real-time free market trading to fix prices rather than long-term contracts.

Beginning around 2010 the EU began to push a radical change in rules for pricing natural gas. Prior to that point most gas prices were set in fixed long-term contracts for pipeline delivery. The largest supplier, Russia’s Gazprom, provided gas to the EU, most especially to Germany, in long-term contracts pegged to the price of oil. Until the last several years almost no gas was imported by LNG ships. With a change in US laws to allow export of LNG from the huge shale gas production in 2016 US gas producers began a major expansion of LNG export terminal construction. The terminals take an average of 3 to 5 years to build. At the same time Poland, Holland and other EU countries began to build LNG import terminals to receive the LNG from abroad....

For the complete article, please go to Global Research's cite here



Anonymous said...

Putin cuts off gas to Europe as energy war escalates

Vladimir Putin has imposed an indefinite shutdown of the Nord Stream pipeline supplying gas to Europe,
as a proxy energy war between the Kremlin and the West escalates.
State gas giant Gazprom said late on Friday that the Nord Stream 1 gas pipeline to Germany would not reopen

Will the gas market keep inflating?
Energy prices are exploding in value, and the European market has been particularly hit hard.
Alex Rankine explains whether gas prices will still march higher or fall soon.
Alex Rankine31 Aug 2022

European energy prices are reaching astounding heights. Wholesale gas prices, as measured by the Dutch TTF benchmark, hit €337 per megawatt hour (MWh) last week, a more than sixfold increase on the price a year ago. That is as if oil cost $500 a barrel. Electricity, whose price is closely linked to gas, has also surged. German and French power prices for delivery next year have topped €1,000 per MWh, says Bloomberg. “UK day-ahead electricity is trading at ten times its two-decade average.”

Crazy Record Gas prices!
With an energy crisis raging in Europe, the uncertainty over the flow of natural gas has sent prices to unprecedented levels.

On the oil scale, the price of natural gas has reached the equivalent of $500 per barrel, ten times the current average oil price $100

Anonymous said...

This is a result of greenie weenies and globalist warmongers. Greens happy to help globalists quest to control Europe if it means shutting down natural gas pipelines coming from God forbid…. Russia. Greenies can pretend they saved Europe from greenhouse gases and globalists can destroy the European Russian trade partnership. Although I guess Germany is firing up the coal plants again so there goes the carbon redux.

Globalism = Colonialism