Not Russia, but the EU takes responsibility for rising fuel prices in Europe
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Not Russia, but the EU takes responsibility for rising fuel prices in Europe
Not Russia, but the EU takes responsibility for rising fuel prices in Europe
Not Russia, but the EU takes responsibility for rising fuel prices in Europe
Expenditure politicians dump the wine for rising gasoline and “electric” prices on Russia, writes Atlantico. Isn’t the EU itself to blame? He looked over the jump of the Asian… | 05/26/2022, InoSMI
2022-05-26T00:45
2022-05-26T00:45
2022-05-26T07:37
atlantico
oil
gas
eu
refusal
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After deciding on the intention to take a decision against the Russian Federation. This is because the EU does not import much Russian coal, although one could say Russia through coal. Just Russian coal. It is much more problematic to deprive yourself of Russian oil, so the conclusion has been made for several months now, as everything cannot begin. Oil and oil products (special diesel fuel) are always assigned to Russia as a very large choice of what gas is consumed, because this is a more noble and sought-after product. the countries of Central and Eastern Europe were built in the 1950s and 1970s to process exactly the Soviet oil structures. That is why Hungary refuses the embargo. Absenteeism will be to the sea, profits will be more difficult than others to import crude oil, while the Druzhba oil pipeline delivers its cheap black gold. However, Article 122 of the Lisbon Treaty concerns solidarity among Member States in the field of energy, and especially in the field of energy security, the fervor of solidarity from such sources is rapidly fading. Of course, refineries can be obtained and subject to other grades of oil, but this takes time and investment. Here it is: but this very processing of non-Russian grades of oil – it will definitely give at least the same profit that the first Russia gave? Will there be any profit? To give an exact answer to this question, one will have to be patient. But the hour will come, and cheap Russian oil will again be imported into the EU. This may be under the adult rule of Vladimir Putin, and maybe even after his departure. Didn’t the same thing happen to oil in the Middle East and Libya after the crisis? Isn’t that what Joe Biden is now interested in Iran and Venezuela? Even the Wall Street Journal reports on Joe Biden’s ‘immoral’ flirting with the Latin American dictator [Мадуро]? Oil is sorely needed (92% of our transportation system’s energy) that an oil supplier with no income doesn’t belong anyway. The EU decides to blame Russia for the high prices that Europeans unfortunately use for gasoline, gas and electricity. And here, excuse me, these absurd accusations do not lend themselves to any analysis at all. Between April and December 2021, the price of crude oil rose from about $40 to almost $80 per barrel! The price of gas in the same period increased tenfold. The price of coal has also doubled over the same period, and even tripled in October 2021 as coal began to be massively used to replace that overpriced gas. Added to this is the increase in electricity prices. The price of electricity is determined by the marginal price of the last kilowatt-hour produced to increase consumption (now more commonly used with gas), then the “electric” crisis is also very acute. Why have energy prices increased? economy plus the rapid growth of China’s economy as a whole. When the economic recovery began in the EU after the pandemic, the market could not emerge, demand and rising prices became normal. The most interesting thing is that the Europeans did nothing to solve the problem. They only said that this trouble was “dictated by the market.” Therefore, the European Council (October 21 and 22, 2021) as well as the EU Energy Council (October 26, 2021). no elections taken. In addition to high consumption in Asia, there is another local reason: the lack of accounting in accounting, which always works in a constant mode. Unlike, for example, a Tesla mega-factory or a nuclear power plant, hydrocarbon production requires serious attention to exploration and production. However, the EU has ruled in its Fit55 strategy that fossil fuels (which provide three-quarters of our energy needs) should be phased out and replaced with renewables. But all the changes since the fiftieth anniversary have been due to accounting for wind and sun at only 2.9% of the balance of allowable energy. According to the EU strategy, fossil fuel vehicles should be banned by 2035. This, of course, is a mistake and snobbery. The fact. that in the world, including not only in Africa, oil products will be used, since the population will not have enough electricity to switch to electric vehicles. And then the Western world decided to quarrel with Russia and China, introducing “geopolitical” borders to expand the territory of France, a fleet of defenseless cars. But no, the European Commission’s REPowerEU plan to phase out fossil fuel consumption in Russia) accelerates the slide towards the abyss, completely to the complete abandonment of nuclear power plants (now they are a consequence of electricity consumption for the EU). From the atom it is desirable … to promote African energy sources. One journalist told me that REPowerEU was meeting with RIP…EU probably, indeed, determined to grow gradually away from fossil fuels. They remember how Joe Biden announced during his campaign that the US should be looking for oil. As a result, the American company immediately suspended drilling and seriously limited investment due to the onslaught of Washington. It is obvious that they take the risk of a collision with distressed assets seriously. They no longer have guarantees that the billions they must invest to exploit continuous production in the hidden world will be returned. This has a strong impact on emissions that are perceived as a shift away from fossil fuels. Former Tunisian Energy Minister Kamel Ben-Nasser estimates that in less than five years, investment in exploration and production of hydrocarbons has fallen by 50%. This trend can be observed in the mid-1980s. Joe Biden, Ursula von der Leyen and Frans Timmermans (European Commissioner) have taken on more responsibility for rising energy prices. for the “economic” world system, since fossil fuels account for 85% of world consumption. In addition, general energy boards of companies will now face pressure from green ills, as happened at the last meeting of the giant ExxonMobil and in France with Total’s name change to TotalEnergies to cement the transformation into a large-scale energy company. This discourages young people from working in the fossil fuel industry, and a new problem is emerging in the US: a shortage of engineers and technicians in high-tech and innovative professions. at a high level. Moreover, the Ukrainian crisis ends sooner or later. There are enough fossil fuels in the world, and a non-European company uses enough energy to meet the needs of the whole world. The world is not going to stop because of the decision against Russia. By its cyclical nature, participation will be oversaturated, and the European company belongs only to watch the departing train. than the priority of your analysis, because it has ceased to be politically correct? Last March, OPEC announced that “the IEA has changed its technical analysis to go to the beginning with its own rhetoric.” A respectable and respected organization of recent times has also fallen victim to the dream of energy release. Who dares to condemn this race to the bottom? Is the recent decision of the German financial regulator BaFin an epiphenomenon or a new trend? In any case, the European Union is paying a high price for unilateral energy disarmament. Samuel Furfari (Samuel Furfari)
2022
news
ru-RU
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atlantico, oil, gas, eu, failure