Germany vows to end dependence on Russian gas by 2024 as US offers extra shipments

submitted by SoylentCapitalist from (self.debatealtright)

Many are saying this will devastate the Russian economy. After reading the article I became curious about to what extent this benefits the US, and whether this promise will be upheld by the US. Will this deal a massive blow to the Russian economy?

https://www.ft.com/content/de704c90-dc68-4747-86ef-551f1ffbcb04

https://www.reddit.com/r/Economics/comments/tnl3ki/germany_vows_to_end_dependence_on_russian_gas_by/

all 4 comments
sorted by:
top
newinsightfulfun

[–]Wrangel 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

A lot of hot air. There is a global shortage of Nat gas and we are running out of the stuff. The investments in oil and gas have tanked while the cost of producing oil and gas has ballooned. Gone are the days in which oil was simply pumped out of the ground. Now they are doing fracking, deep sea projects, tar sands and other expensive ways of producing oil. Oil production peaked in 2018, that is 1.5 years before the pandemic. None of the big suppliers of oil and gas can be replaced.

Making matters worse, LNG is super expensive, has awful energy returned on energy invested and requires a lot of infrastructure. Germany isn't going to run on LNG.

[–]Richard_Parker 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Wjy would Russia just not say, well hasten the process process for you. You're independent now bc we are ending the process.

Why is the US and its client states stoking up ww3, economic ruin? Are they diabolically evil people set on destroying the world, or just that incompetent?

[–]TheJamesRocket 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Germany cannot make such a massive transition in just 2 years. Its not economically feasible. If they were to build LNG terminals at their ports (so that tankers could pump natural gas into storage tanks), it would require a massive investment of infrastructure.

[–]fukit 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

I've seen a lot of financial types on sites like Forbes and even bloomberg saying the steps Biden and corporate America have taken to punish Russia are the beginning of the end of US corporate and monetary hegemony. Nations took notice that to tie your economy too closely to America leaves you vulnerable to being cut off and your economy devastated should you fall out of their good graces or oppose them in any way. So they are now attempting to sever ties wherever and whenever possible. Worldwide this has destroyed the already damaged America brand.

Russia will certainly see damage to it's economy, but will likely survive all this, as will Putin. The US on the other hand has sown the seeds of it's own downfall, and even some high finance Jews are openly talking about this.