After the sharp decline in Russian gas exports via Nord Stream, the economies of European countries will face serious difficulties. About author Forbes columnist Sal Gilberti.
“Cuting Russian gas supplies this winter will devastate the European economy. Germany is an example of dependence on natural gas, and at the moment all the cards are in Russia. The implications are huge because Germany is the largest economy in Europe and the fourth largest in the world. “His fate will determine the fate of Europe and the global economy this winter.”
In parts of Europe, wholesale gas prices have already risen sharply. But according to the Forbes columnist, the crisis in the global energy market did not bypass the USA.
“US natural gas futures markets are up an astonishing 95% year-over-year. But fortunately, Americans won’t experience anything like the massive price hikes that hit Europe, where wholesale gas price increases of a staggering 400% or more in certain regions,” Gilberti says.
If Russia stops delivering fuel from all European pipelines, this will lead to an even greater rise in foreign exchange gas prices. Gilberti concluded that those of us living in the cold climate of the Northern Hemisphere are about to experience a sharp rise in heating costs in winter.
September 6 Senior Vice President of Norwegian oil and gas company Equinor Helge Haugane declarationWithout a $1.5 trillion guarantee of liquidity to energy companies, the European market will collapse. Contract fuel trade in Europe could come to a complete halt if firms cannot meet the high margin requirements on their own.
Source: Gazeta
Jackson Ruhl is a tech and sci-fi expert, who writes for “Social Bites”. He brings his readers the latest news and developments from the world of technology and science fiction.