"Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav

[notsonice + 1,068]

On 12/8/2022 at 6:59 PM, RichieRich216 said:

Well all of the truth is finally revealed, the media and i mean all media is complacent in doing any due diligence whatsoever! At one time that video was a trusted source of information for all America, now it shows nothing, but the opposite of what is true it’s going back to being a Tokyo Rose. Any Country that trusts the United States to have it’s back is in for a shock!

and I’m speaking as a family that’s had a family member in every war since World War 1, been on NATO missions! What the Woke and extremists have done will be hard to unravel.

Business leaders and just about anyone that attends DAVOS are the enemy of democracy and freedom.

 

all media is complacent in doing any due diligence whatsoever!??????????

so do you think the oil industry is open to inspection by the press or the media?????

My bet is they great guys that run the Keystone are not letting the press anyway near this giant stink hole......

also surprised no mention of the magnitude of the spill here??????

14,000 barrels and still growing in size........any one here want to bet it is much bigger????

 

Do you trust the Oil guys to tell the truth and you ignore the press.........

 

Any Country that trusts the United States to have it’s back is in for a shock!??????? ..

 if you do not trust the US please leave , Russia is looking for some more cannon fodder

 

guess sleepy Joe can keep the SPR flowing

 

4 minute readDecember 9, 20227:25 AM MSTLast Updated 2 days ago

Keystone pipeline shut after 14,000-barrel oil spill in Kansas

By Brijesh Patel

, Rod Nickel

 and Nia Williams

 

 

[1/2] View of the site where the Keystone pipeline crosses U.S. Route 36 just east of Washington, Kansas, U.S., December 8, 2022 in this image taken from social media. Fred Knapp/Nebraska Public Media News via REUTERS

 

12

 

• Companies

• TC Energy Corp

  Follow

Dec 8 (Reuters) - Canada's TC Energy shut its Keystone pipeline in the United States after more than 14,000 barrels of crude oil spilled into a creek in Kansas, making it one of the largest crude spills in the United States in nearly a decade.

The cause of the leak, which occurred in Kansas about 20 miles (32 km) south of a key junction in Steele City, Nebraska, is unknown. It is the third spill of several thousand barrels of crude on the pipeline since it first opened in 2010.

 

 

 

 

 

Edited December 11, 2022 by notsonice

[RichieRich216 + 454]

It was probably you fucking crazies that attacked the line to cause this; just like you, fucking crazies glue themselves to works of art!

You are all fringe terrorist groups and should be designated enemies of the state!

[TailingsPond + 468]

2 hours ago, RichieRich216 said:

 

You are all fringe terrorist groups and should be designated enemies of the state!

"Fringe" terrorist groups versus full blown terrorist groups like anyone associated with Trump, Oath Keepers, Proud Boys, etc.

"Scrap the constitution! Ignore elections! Storm the Capitol! Kill Pence!"

Democracy is a bitch; you just find yourself on the wrong side of right and the views of the majority.

 

 

Edited December 11, 2022 by TailingsPond

[Tomasz + 1,608]

Type Novatek.

it will export LNG to Europe 

Volume - 20 bilion cubic meters maybe less

Nominal value- some modest 27 bilion euros this year

Why not? As we can read in first post its only end of abudance not lack of gas. So why not still sell some NG or LNG - but rebus sin stantibus

In a few years Europeans will be poor enough to understand why poor countries dont make ecology their priority.

Edited December 17, 2022 by Tomasz

[Tomasz + 1,608]

But is West helping Ukrainian? Yeap helping in traditional way like always. Ukraine is starting to look like all the other countries the U.S. helped

 

 

https://pbs.twimg.com/media/Fj_Et_magAEMONL?format=jpg&name=small

Fj_Et_magAEMONL (1).bmp

Edited December 17, 2022 by Tomasz

[Tomasz + 1,608]

It's just sooo weird how the Chinese react to an obvious and explicit #USA attempt to cripple their tech and bleed their main ally #Russia by proxy war by a closing of ranks with just that ally. It's almost as if they dislike the idea of geopolitical suicide.

[Ron Wagner + 643]

Xi and his version of the CCP have been committing geopolitical suicide for many years. Their aggressive policies have alerted the free world to their objectives. Their treatment of their own people is far worse than any other developed country. We should not be reliant on any of their exports that are crucial to our well being. We should also be wary of any transfer and rebranding of products purchased by their close neighbors. The Chinese people must continue to stand up to the CCP. The Russians must stand up to Putin also. 

[Tom Nolan + 2,441]

19 hours ago, Ron Wagner said:

Xi and his version of the CCP have been committing geopolitical suicide for many years. Their aggressive policies have alerted the free world to their objectives. Their treatment of their own people is far worse than any other developed country. We should not be reliant on any of their exports that are crucial to our well being. We should also be wary of any transfer and rebranding of products purchased by their close neighbors. The Chinese people must continue to stand up to the CCP. The Russians must stand up to Putin also. 

I wish Americans would take heed of China and its Social Credit Score tied to it phone ap currency and Digital ID and the surveilance system.  Americans are happily in lala land as they voluntarily place themselves into their own prison by wanting to be like China... Americans sign up to be surveiled and tracked, and sign up to to have their smart devices hijack their very own lives.  Americans happily ignore history.   They prefer to believe that the media and government do not lie.  At least many Chinese people recognize that the Chinese government lies.  Americans believe the war mongering narrative, while ignoring Eisenhower's farewell address.  The ONLY solution for the American people is to become informed and aware of the many lies which have been perpetrated upon them.

Edited December 18, 2022 by Tom Nolan

[Tom Nolan + 2,441]

https://www.zerohedge.com/weather/eu-imposes-worlds-largest-carbon-tax-scheme-inflationary-madness-sets

EU Imposes The World's Largest Carbon Tax Scheme, Inflationary Madness Sets In

by Tyler Durden

Tuesday, Dec 20, 2022 - 05:30 AM

By Mish Shedlock of MishTalk

Carbon Border Adjustment Mechanism 

To prevent "carbon leakage" the European Parliament Reached a Deal on a Carbon Border Adjustment Mechanism, CBAM for short. 

An EU Carbon Border Adjustment Mechanism (CBAM) will be set up to equalise the price of carbon paid for EU products operating under the EU Emissions Trading System (ETS) and the one for imported goods. This will be achieved by obliging companies that import into the EU to purchase so-called CBAM certificates to pay the difference between the carbon price paid in the country of production and the price of carbon allowances in the EU ETS.

CBAM will cover iron and steel, cement, aluminum, fertilizers and electricity, as proposed by the Commission, and extended to hydrogen, indirect emissions under certain conditions, certain precursors as well as to some downstream products such as screws and bolts and similar articles of iron or steel.

Before the end of the transition period, the Commission shall assess whether to extend the scope to other goods at risk of carbon leakage, including organic chemicals and polymers, with the goal to include all goods covered by the ETS by 2030. 

CBAM is part of the “Fit for 55 in 2030 package", which is the EU’s plan to reduce greenhouse gas emissions by at least 55% by 2030 compared to 1990 levels in line with the European Climate Law.

Spotlight Africa

Let's tune into a Tweet Thread by Faten Aggad Senior Advisor Climate Diplomacy @AfricanClimateF.

[IMAGE]

"The only effect CBAM would have is a resource shift whereby clean energy capacity in already under-resourced countries will be shifted for export production while industry aimed at local consumption and energy access will depend on dirty fuels."

The EU Goes Rogue on Climate Policy With CBAM

The Wall Street Journal reports The EU Goes Rogue on Climate Policy With CBAM

 

The CBAM as drafted would disadvantage the U.S., especially our small businesses and manufacturers, even though the U.S. and EU have nearly identical environmental performance and emissions standards. Particularly problematic in the EU agreement is the obligation for EU importers to pay the difference between the carbon price paid in the country of production and the price of carbon allowances under the EU’s emissions trading system.

Many economies, including the U.S., rely on regulations under statutes such as the Clean Air Act to limit emissions. The EU’s proposal doesn’t credit the cost of domestic regulation when the border tax is applied. The failure to recognize the implicit costs of U.S. regulation would inevitably lead to double emission taxation on exporters.

Neither a Tax Nor a Tariff

The EU says CBAM is neither a tax nor a tariff. It's an "adjustment mechanism" to "level the playing field".

Yeah right. 

The US objections to CBAM are amusing as were the EU objections to Biden's horrendously names Inflation Reduction Act that will do anything but reduce inflation. 

The EU is Very Worried About Biden's Inflation Reduction Act (IRA)

On November 30, I commented The EU is Very Worried About Biden's Inflation Reduction Act (IRA)

Under WTO rules, much of Biden's IRA is really an illegal subsidy. The EU cannot do in 5 years what the US can pass in a session if one political party is in clear control.

In addition to Biden's free clean energy handouts, the US is largely energy independent while the EU desperately needs Russian energy.

All the EU can do is bitch to the WTO and that will take many years as well. 

Importantly, Germany is upset because the US is handing out free money clean energy subsidies despite WTO rules and it can't.

And not having learned anything from Russia, Germany is now cozying up to China.

Hoot of the Day 

Please consider Europe Tries to Stop Exporting Its Emissions.

Given the self-imposed cost of going green, the CBAM explicitly looks to make European manufacturers more competitive with foreign producers. Europe says that’s fair. In compliance with World Trade Organization rules, it isn’t discriminating against any particular country, just leveling the playing field.

But this means top trading partners like the U.S. will now face a steep carbon bill when docking at the ports of Rotterdam or Antwerp. 

The U.S. has attempted to discourage the CBAM. Climate envoy John Kerry warned Europe against proceeding with the border tax, saying last year that “the United States has strong feelings about not having excessive regulation.”

Biden has "strong feelings about not having excessive regulation,” says John Kerry. What a hoot!

CBAM Quantitative Assessment

Please consider the The Global Impact of a Carbon Border Adjustment Mechanism: A Quantitative Assessment by the IMF. Amazingly the IMF got something right.

• Carbon border tax has been debated in many countries over the past decade, and remains highly controversial. While CBAMs have a global impact by design, the scale of its “spillover effects” on other countries is seldom studied. There are concerns that a unilateral EU CBAM will not only distort international trade, but also shift the burden of addressing climate change to developing countries.
• Countries that rely on carbon-intensive exports to the EU will be disproportionately impacted by the CBAM. Welfare losses in developing countries like Ukraine, Egypt, Mozambique and Turkey range between $1 billion to $5 billion, which are significant relative to their gross domestic product (GDP). Mozambique’s economy would shrink by 2.5 percent due to decreased demand.
• The CBAM could worsen income inequality and welfare distribution between rich and poor economies.
• At its broadest implementation, the CBAM could result in an annual welfare gain in developed countries of $141 billion, while developing countries see an annual welfare loss of $106 billion, compared to a baseline scenario.

We need to stop right there because the IMF solution is reparations and an “Equitable Decarbonization Fund” (EDF) to developing countries.

Tit for Tat?

Perhaps CBAM is the EU's way of striking back at the US for Biden's IRA.

More likely, it's just economic stupidity across the board as noted in Al Gore and John Kerry Aim to Hijack the World Bank for Climate Agenda

On November 12, president Biden's climate ambassador, John Kerry, made this statement:

"It's a well-known fact that the United States and many other countries will not establish…some sort of legal structure that is tied to compensation or liability. That's just not happening."

Guess what happened. 

For the answer, please consider President Biden, the UN, and the Climate Lobby Seek to Spread More Fossil Fuel Misery

Three Things CBAM Will Do

1. Increase inflation
2. Reduce global trade
3. Hammer developing countries 

And the one thing it will not do is much of anything, if anything at all, for the environment.

50 Years of Dire Predictions

Finally, Let's Review 50 Years of Dire Climate Forecasts and What Actually Happened

Many of the predictions are outrageously funny, especially AOC's 2019 announcement that the world will end in 12 years.

[Tom Nolan + 2,441]

https://www.zerohedge.com/energy/europes-energy-crisis-just-getting-started

Europe's Energy Crisis Is Just Getting Started

by Tyler Durden

Friday, Dec 23, 2022 - 02:30 AM

Authored by Tsvetana Paraskova via OilPrice.com,

• While Europe managed to fill its gas storage ahead of winter this year, it will have to import huge amounts of LNG in a competitive market to survive next winter.

• The next 12 to 24 months will be critical in establishing whether Europe can stave off a long-term energy crisis.

• According to the IEA, if Russian gas supply drops to zero and Chinese LNG demand hits 2021 levels, the EU could have a supply-demand gap of 27 billion cubic meters in 2023.

Despite successfully filling its gas storage ahead of winter this year, Europe’s energy crisis is far from over. The situation for Europe could, in fact, be worse next winter when Russian pipeline gas supply will be down to a trickle, at best.

European households and businesses have already seen a rise in total energy costs by $1.06 trillion (1 trillion euros), according to estimates by European economic think-tank Bruegel published by the International Monetary Fund (IMF). According to Bruegel’s analysts, if governments in Europe do nothing except offer financial support, and if they cover the price increases, this sum would represent a massive 6% of the annual GDP of the EU.

“Massive government support could delay adjustment to a new price equilibrium and create the need for even more support,” Bruegel’s experts say.

Instead, the EU needs a “grand bargain” to encourage savings and increase supply at the same time.

The next 12 to 24 months will determine whether Europe will be able to cope with the energy crisis without having to resort to mandatory rationing or without losing too much industry competitiveness.

Europe’s energy systems were already put to the first real test this month amid an Arctic blast that swept through most of northwestern Europe, bringing freezing temperatures, snow in the UK, and depressing wind speeds in Germany.

Natural gas storage sites in the EU started to drain, with storage at 84% as of December 17, according to Gas Infrastructure Europe. Inventories are higher than at this time last year, but the true test for Europe will come next year when it will have to refill gas storage sites adequately enough to meet the 2023/2024 winter demand.

This is where the planning becomes trickier, depending on how low inventories will be after this winter and whether the EU has the capacity to haul in continued record volumes of LNG and continue outbidding Asia, especially if demand in China rebounds after a reopening from strict Covid curbs.

With lower gas consumption and not much Russian gas flowing via pipelines, the EU has continued to cut its dependence on Russia, from around 40% of imported gas supplies before the Russian invasion of Ukraine, to less than 9%, according to EU figures from September.

However, the significant drop in Russian gas supply this year occurred only in June.

Ahead of winter 2023/2024, the gap in gas supply in Europe will be much wider without Russian gas. Europe will not be importing much Russian gas—or none at all if Russia cuts off deliveries via the one link left operational via Ukraine and via TurkStream—compared to relatively stable imports from Russia in the first half of this year before Moscow started gradually cutting volumes via Nord Stream in June and then shut down the pipeline in early September.

According to a recent report from the IEA, if Russian gas supply drops to zero and Chinese LNG demand rebounds to 2021 levels, the EU could have a gas supply-demand gap of 27 billion cubic meters in 2023.

With the plunge in Russian pipeline gas deliveries, Europe will need “huge volumes” of LNG next year, commodity trader Trafigura said earlier this month.

“Looking forward, we expect gas and LNG markets to remain volatile,” Trafigura said in its annual report for the year to September 30. 

“While Europe should avoid a blackout this winter by drawing on inventories and cutting demand, it will need to import huge volumes of LNG in 2023 given the massive reduction in flows from Russia,” Trafigura said.

Natural gas prices in Europe will have to remain elevated so that the continent can continue to attract most of the LNG cargoes in competition with the other key demand centers, according to Trafigura. The commodity trader expects Europe to prioritize the security of supply “through next winter and beyond.” 

Huge uncertainties with weather and the EU’s ability to compete with a potential increase in LNG demand in Asia will determine how Europe will fare next winter.  

“Behind us now are two months of ‘buyer’s market’ with peak inventories, warm weather, a long queue of LNG ships, and depressed TTF prices,” commodity analysts Ole Hvalbye and Bjarne Schieldrop of SEB Bank said in early December.

“Ahead of us is the huge Q1 uncertainty and at least 12 months of ‘seller’s market’ as the race is on to fill EU nat gas inventories to a satisfying level by October 2023.”  

[Tom Nolan + 2,441]

 

[Tom Nolan + 2,441]

[Ron Wagner + 643]

On 12/18/2022 at 9:20 AM, Tom Nolan said:

I wish Americans would take heed of China and its Social Credit Score tied to it phone ap currency and Digital ID and the surveilance system.  Americans are happily in lala land as they voluntarily place themselves into their own prison by wanting to be like China... Americans sign up to be surveiled and tracked, and sign up to to have their smart devices hijack their very own lives.  Americans happily ignore history.   They prefer to believe that the media and government do not lie.  At least many Chinese people recognize that the Chinese government lies.  Americans believe the war mongering narrative, while ignoring Eisenhower's farewell address.  The ONLY solution for the American people is to become informed and aware of the many lies which have been perpetrated upon them.

 

On 12/18/2022 at 9:20 AM, Tom Nolan said:

I wish Americans would take heed of China and its Social Credit Score tied to it phone ap currency and Digital ID and the surveilance system.  Americans are happily in lala land as they voluntarily place themselves into their own prison by wanting to be like China... Americans sign up to be surveiled and tracked, and sign up to to have their smart devices hijack their very own lives.  Americans happily ignore history.   They prefer to believe that the media and government do not lie.  At least many Chinese people recognize that the Chinese government lies.  Americans believe the war mongering narrative, while ignoring Eisenhower's farewell address.  The ONLY solution for the American people is to become informed and aware of the many lies which have been perpetrated upon them.

Illinois is joining  the likes of New York, New Jersey, and Calfornia in trying to ban weapons that are widely owned and used nationwiide. They are also trying to ban mags over 10 rounds. The new law will be signed after January 1. These so called laws are obviously unconstitutional as has been reaffirmed by the Supreme Court. Illinois is intimidating its citizens and says it will make them felons if the do not comply. Their ultimate goal would be to make all firearms illegal, or posessing them in any public place. 

On top of that they will announce no bail laws for 2003. Democrats are in full control of Illinois but not the law of the land which is our Constitution.