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Putin Warns Europe "No Alternative... Will Cut Gas Supplies"
European partners have left Russia with "no alternative" but to halt supplies of gas to Ukraine and Europe, according to a letter from Russian president Putin to European leaders.
- *EUROPEAN PARTNERS LEAVE RUSSIA 'NO ALTERNATIVE,' PUTIN SAYS
- *RUSSIA TO HALT UKRAINE GAS IF PAYMENT VIOLATIONS GO ON: PUTIN
- *PUTIN: RUSSIA UKRAINE GAS SUBSIDY WORTH $35.4B IN PAST 4 YEARS
The remarks, as Reuters reports, were the strongest sign yet that Russia could curtail supplies of gas to (and through) Ukraine affecting supplies of gas to Europe (as they fear Ukraine will siphon off Russian gas meant for Europe). Russia is already reducing its delivery through Ukraine but it stil represents 39% of Europe's demand. Gazprom has also been forced to move to pre-payment terms on any future deliveries (there's your IMF bailout).
President Vladimir Putin has told European leaders a dispute over Ukraine's gas debt to Russia could affect supplies of Russian gas to Europe and proposed urgent discussions on the matter, his spokesman said on Thursday.
The remarks were the strongest sign yet that Russia could curtail supplies of gas to Ukraine, which could increase tension between Moscow and Kiev and aggravate the worst crisis in East-West ties since the Cold War.
"The situation is urgent," Putin's spokesman, Dmitry Peskov, said after Putin sent a letter expressing deep concern about Ukraine's $2.2 billion gas debt and warning of a possible impact on the transit of Russian gas to the European Union.
In the letter, Putin proposed "mechanisms of dialogue for urgent discussions of the situation that has developed," Peskov said. He did not give any details about the proposal or say which leaders were addressed.
Putin also added that Ukraine is in trouble...
- *PUTIN SAYS UKRAINE IS HEADING TOWARD DEFAULT
- *PUTIN URGES TALKS WITH EU MINISTERS ON UKRAINE GAS DEBT
- *PUTIN: RUSSIA UKRAINE SUBSIDY INCLUDES $18.4B TAKE-OR-PAY FINE
- *GAZPROM FORCED TO MOVE UKRAINE TO PREPAYMENT DUE TO DEBT: PUTIN
Reuters further adds that:
- IN LETTER SEEN BY REUTERS, PUTIN SAYS THERE ARE RISKS UKRAINE WILL SIPHON OFF RUSSIAN GAS DESTINED FOR EUROPE
- PUTIN SAYS IT IS NECESSARY TO PUMP 11.5 BCM OF GAS INTO UKRAINE GAS STORAGES TO SECURE UNINTERRUPTED RUSSIAN GAS TRANSIT TO EUROPE
- PUTIN URGES EUROPE TO URGENTLY DISCUSS MEASURES TO STABILISE UKRAINE'S ECONOMY AND ENSURE DELIVERY AND TRANSIT OF RUSSIAN GAS
We are sure any new sanctions that Obama and his motley crew are coming up with have all of this in mind...
In sum, Russia is saying that Ukraine must build its own gas reserves to guarantee that there is enough for Europe, and Ukraine is saying no. Russia is thus implying that European gas supplies are at risk because Ukraine will take the gas supposedly traveling to Europe.
The math, as performed by Gazprom, via Bloomberg:
Ukraine needs ~18bcm of natgas in underground storage facilities for future winter consumption, to ensure uninterrupted transit of Russian fuel to Europe, Gazprom Deputy CEO Vitaliy Markelov says at govt meeting outside Moscow. Ukraine has 6.5bcm in storage now, ~0.65bcm are in Crimeanunderground storage facilities. Markelov adds that 11.5bcm needed before winter to cost $4b-$5b, if history is any example gas in storage before last winter was 19bcm, and currently has 7.2bcm in underground storage, according to Naftogaz Ukrainy.
So to paraphrase: Gazprom is saying it demands that Ukraine build up its gas holdings to assured it won't syphon off gas with a European destination, gas which will cost Ukraine up to $5 billion, money which Russia is now demand be paid up front. Or else Europe gets it.
* * *
Full Putin letter is below via Itar-Tass (highlights ours):
Ukraine’s economy in the past several months has been plummeting. Its industrial and construction sectors have also been declining sharply. Its budget deficit is mounting. The condition of its currency system is becoming more and more deplorable. The negative trade balance is accompanied by the flight of capital from the country. Ukraine’s economy is steadfastly heading towards a default, a halt in production and skyrocketing unemployment.
Russia and the EU member states are Ukraine’s major trading partners. Proceeding from this, at the Russia-EU Summit at the end of January, we came to an agreement with our European partners to hold consultations on the subject of developing Ukraine’s economy, bearing in mind the interests of Ukraine and our countries while forming integration alliances with Ukraine’s participation. However, all attempts on Russia’s part to begin real consultations failed to produce any results.
Instead of consultations, we hear appeals to lower contractual prices on Russian natural gas – prices which are allegedly of a “political” nature. One gets the impression that the European partners want to unilaterally blame Russia for the consequences of Ukraine’s economic crisis.
Right from day one of Ukraine’s existence as an independent state, Russia has supported the stability of the Ukrainian economy by supplying it with natural gas at cut-rate prices. In January 2009, with the participation of the then-premier Yulia Tymoshenko, a purchase-and-sale contract on supplying natural gas for the period of 2009-2019 was signed. The contract regulated questions concerning the delivery of and payment for the product, and it also provided guarantees for its uninterrupted transit through the territory of Ukraine. What is more, Russia has been fulfilling the contract according to the letter and spirit of the document. Incidentally, Ukrainian Minister of Fuel and Energy at that time was Yuriy Prodan, who today holds a similar post in Kiev’s government.
The total volume of natural gas delivered to Ukraine, as stipulated in the contract during the period of 2009-2014 (first quarter), stands at 147.2 billion cubic meters. Here, I would like to emphasize that the price formula that had been set down in the contract had NOT been altered since that moment. And Ukraine, right up till August 2013, made regular payments for the natural gas in accordance with that formula.
However, the fact that after signing that contract, Russia granted Ukraine a whole string of unprecedented privileges and discounts on the price of natural gas, is quite another matter. This applies to the discount stemming from the 2010 Kharkiv Agreement, which was provided as advance payment for the future lease payments for the presence of the (Russian) Black Sea Fleet after 2017. This also refers to discounts on the prices for natural gas purchased by Ukraine’s chemical companies. This also concerns the discount granted in December 2013 for the duration of three months due to the critical state of Ukraine’s economy. Beginning with 2009, the total sum of these discounts stands at 17 billion US dollars. To this, we should add another 18.4 billion US dollars incurred by the Ukrainian side as a minimal take-or-pay fine.
In this manner, during the past four years, Russia has been subsidizing Ukraine’s economy by offering slashed natural gas prices worth 35.4 billion US dollars. In addition, in December 2013, Russia granted Ukraine a loan of 3 billion US dollars. These very significant sums were directed towards maintaining the stability and creditability of the Ukrainian economy and preservation of jobs. No other country provided such support except Russia.
What about the European partners? Instead of offering Ukraine real support, there is talk about a declaration of intent. There are only promises that are not backed by any real actions. The European Union is using Ukraine’s economy as a source of raw foodstuffs, metal and mineral resources, and at the same time, as a market for selling its highly-processed ready-made commodities (machine engineering and chemicals), thereby creating a deficit in Ukraine’s trade balance amounting to more than 10 billion US dollars. This comes to almost two-thirds of Ukraine’s overall deficit for 2013.
To a large extent, the crisis in Ukraine’s economy has been precipitated by the unbalanced trade with the EU member states, and this, in turn has had a sharply negative impact on Ukraine’s fulfillment of its contractual obligations to pay for deliveries of natural gas supplied by Russia. Gazprom neither has intentions except for those stipulated in the 2009 contract nor plans to set any additional conditions. This also concerns the contractual price for natural gas, which is calculated in strict accordance with the agreed formula. However, Russia cannot and should not unilaterally bear the burden of supporting Ukraine’s economy by way of providing discounts and forgiving debts, and in fact, using these subsidies to cover Ukraine’s deficit in its trade with the EU member states.
The debt of NAK Naftogaz Ukraine for delivered gas has been growing monthly this year. In November-December 2013 this debt stood at 1.451,5 billion US dollars; in February 2014 it increased by a further 260.3 million and in March by another 526.1 million US dollars. Here I would like to draw your attention to the fact that in March there was still a discount price applied, i.e., 268.5 US dollars per 1,000 cubic meters of gas. And even at that price, Ukraine did not pay a single dollar.
In such conditions, in accordance with Articles 5.15, 5.8 and 5.3 of the contract, Gazprom is compelled to switch over to advance payment for gas delivery, and in the event of further violation of the conditions of payment, will completely or partially cease gas deliveries. In other words, only the volume of natural gas will be delivered to Ukraine as was paid for one month in advance of delivery.
Undoubtedly, this is an extreme measure. We fully realize that this increases the risk of siphoning off natural gas passing through Ukraine’s territory and heading to European consumers. We also realize that this may make it difficult for Ukraine to accumulate sufficient gas reserves for use in the autumn and winter period. In order to guarantee uninterrupted transit, it will be necessary, in the nearest future, to supply 11.5 billion cubic meters of gas that will be pumped into Ukraine’s underground storage facilities, and this will require a payment of about 5 billion US dollars.
However, the fact that our European partners have unilaterally withdrawn from the concerted efforts to resolve the Ukrainian crisis, and even from holding consultations with the Russian side, leaves Russia no alternative.
There can be only one way out of the situation that has developed. We believe it is vital to hold, without delay, consultations at the level of ministers of economics, finances and energy in order to work out concerted actions to stabilize Ukraine’s economy and to ensure delivery and transit of Russian natural gas in accordance with the terms and conditions set down in the contract. We must lose no time in beginning to coordinate concrete steps. It is towards this end that we appeal to our European partners.
It goes without saying that Russia is prepared to participate in the effort to stabilize and restore Ukraine’s economy. However, not in a unilateral way, but on equal conditions with our European partners. It is also essential to take into account the actual investments, contributions and expenditures that Russia has shouldered by itself alone for such a long time in supporting Ukraine. As we see it, only such an approach would be fair and balanced, and only such an approach can lead to success.
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lmfao.....Rancher with a gun???? I think the poor farmer was unarmed. It was the fricking cows that got the terrorist treatment. ...we have 100 brood cows and calves....and it usually takes 200 armed fucktards in Humvees and full body armour to load them out....NOT!
I have a solution, it's so simple I can't believe it hasn't been done before: Supertanker Dirigibles
Have them float down over the gently fracked rolling plains and fill 'er up. The natgas doesn't even need to be liquified, just top that sucker off and head for countries waiting to be liberated by the limitless supplies of American Freedom Gas™. As a bonus, transport is extremely green and transit costs can be recouped from advertising on the giant electronic billboard on the side. The trips will be long and boring, so of course the crew will be allowed to smoke 'em while they got 'em.
I think my idea is ready to blow up!
Disclaimer: I have no common sense and am not a student of history and therefore cannot poke any holes in my incendiary scheme.
You so funny! Like sending man to the moon! Crazy! Who could do such a thing?!
Note to Brussels: Time to build 1m windmills asap!
Sometimes it is not fun to be right.
See?
IT IS ALL ABOUT GAS.
Until the deal with China, Russia's leverage with Europe is limited, because Russia needs to sell the gas just as much as Europe needs to buy it.
Europe wants gas but doesn't want anyone to have a monopoly. So then they want it from Turkmenistan via Caspian-Azerbaijan-Georgia pipeline terminating in Abkhasia Georgia....And Russia invades, citing mistreatement of ethnic Russians.
So...they plan pipelines from North Aftrica (going through Libya, Tunisia, etc and across the Med)...But then that region COINCIDENTALLY blows up. (Was it the Euros forcing North African Dictators using their American proxies? Or was it Russia eliminating a competitor? Or was it the Sauidi's and Qatari's eliminating a competitor?)
So, then they want it from the middle east, but Syria explicitly refuses to allow a pipeline and ...BOOM! Civil war. And finally Europe attempts to have pipelines go through the med, turkey, and into south eastern Europe... And now Russia starts annexing parts of South East Europe.
Russia wants a monopoly so they can dictate prices. Europe wants multiple suppliers so they can force the suppliers to bid against each other.
Both sides of these 'GAS WARS' have destabilized entire regions. Both sides have started Civil Wars. Both sides have engaged in covert or overt warfare.
And over what? The unwillingness to find a market price that both seller and buyer can agree to, and BOTH try to substitute leverage over supply so as to have the price they want - at their trading partner's expense.
All of this death is to allow one side or the other to dictate a price rather than both sides agreeing to one.
Politicians are scum.
Deflation fixed
#2 Global Warning catastrophe fixed
what a cluster fuck DC has made
that is what they are 'bestest' at. Show me one damn thing of any importance done in the past 20 years, which to build upon, and to the benefit of America(ns)!!!
By no means we had be perfect nation, but we sure as hell had built the nation most had envied and copied. Citing some of the problems, it was destroyed, instead of fixing/addressing whatever the problems.
I love how the fucking liberals, are barking "don't repeal Obamacare ... fix the problems", yet, the bastards took the best medical system in the world, destroyed it, replaced it with a heap of shit which will benefit but a few, when the fix could have been as simple as telling the insurers and the medical complex "figure out a way to cover everyone, or else well do it"!
Ukraine instantly becomes new #1 Green Economy
Soylent "Green"?
And Obomba and his outhouse crew didn't see this coming? I'm sure he will unveil his checkmate move and dazzel the world with his mad skills.
And "he" was to do what, exactly?
Didn't the founders tell us to not fuck around in internal affairs of other nations?
Really GC?
Don't thin k for a minute that Pooty Poo hasn't forgotten about that 1980's BeatDown. This Fucker is out for some sweet revenge. Remember the Glory Days of the Olympics for Russia....I mean, W T F, I can remember watching the Olympics when they were actually more than a bunch of Celebtards chasing endorsement deals. It was WAR. We're so fucked it isn't even funny. Putin is sick of Pussy Ass Obama and the USA pushing he and his fellow Ruskies around like a little step child. Obama the Pussy poked the Bear with a stick and forgot to notice that it wasn't in a cage. He'll be doing the Bow Down to Putin soon....my guess is facing backward with his ass cheeks spread like he was prepping for Reggie Love.
I live in shithole Illinois where we farm. The Ukraine is looking better all the time. Time to blow this hole and head to the Promised Land.
Change You Can Believe In
Obama's plan is working nicely. For Russia and China.
Party Pussy froth tends to blind folks from the facts of history.
This shit has been in alignment for MANY decades. WTF do you think that Al Qaeda came from?
Schadenfreude aside, this is a real betrayal and a stepping stone for a war that Russia would CERTAINLY lose. And the tragedy is that so much effort was being forwarded by the West to help Russia's economy rebuild after the collapse of the Soviet Union. Where would they be now if not for the West and its Capital inflows?
So many of the 50+ year old, decrepit, inefficient factories were torn down and rebuilt to modern standards and to updated uses by the flow of Western investment. All facilitated by a European public enthusiastic to ease the suffering of the Russian people.
Germans were so very supportive of the emerging Russia...and now this unprovoked slap in the face to the entire German people, the French people, the entire European Union to which Russia would have been a welcome member.
Madness!
It is the action of a sociopath and tyrant...and yet the seeming (who really knows?) support of these aggressive actions by the Russian people truly paint them as a whole with the moniker "SCUM BAGS".
I welcome your hate... (to quote the greatest former US President who rolls over in his grave every time one of you attempts to talk "ecuuunomics" or some muddled understanding of Keynesianism!).
Now I know that the Zerohedge rank and file includes so very many Russo-files and ethnic Russians and just plain old haters of the EU and "their nefarious ECB"...
So let the down arrow commence!
Down arrows ? No you are irrelevant.
Says the Clown on Acid...LOL
You wouldn't know "irrelevant" if it pissed in your mouth.
If he can piss in his mouth, that is a truly impressive - ah - ENDOWMENT.
He probably has a great future in porm.
I have already pissed in your mouth, so it is irrelevant to me ... you stoopid fuck. And its... CLOWNS with an S indicating plural you feckin' low brow pos.... hehe.
hahahahahahahahahahahahhahahahahahahahahahahahahahahahahahaha
Those capital inflows had hooks in them. It was classic IMF - which means it was a deal a lot like what you get if you are a "liar loan" mortgage applicant. The fine print is pocket-book destroyer.
Besides, the underpinnings of the entire loan process were injust, and the Russians are right to hate them - the money that was loaned was created from nothing, and represented nothing but the promise of future taxes on US and European citizens who were already unable to pay. - ERGO Nothing real was loaned, but something real -GAS- was demanded in return.
Please recall the state of the immediate post USSR where entire industries was auctioned off to cronies and Communist party insiders...
...And then put the loans conditions you complain of...conditions for sound financial and fiduciary prudence...into this context.
And then you say the loans were "nothing". Next you will tell me about the Gold Standard and Fiat this and Fiat that...lol. It just gets real old.
A war which Russia would "surely" loose? Right, they can loose it, but there would be nothing left of Washington, DC. And that's a win.
So byt that logic we give back Nukes to Ukraine.
What is good for the goose is good for the gander.
"so much effort was being forwarded by the West to help Russia's economy rebuild after the collapse of the Soviet Union."
Yes, because we know business folks are benevolent and they were just wanting to, you know, "volunteer."
...is that the Cross of Jesus you are carrying? Save up and buy a mini-tuck.
German policy went out of it's way to ensure capital inflows into Russia. Only -you- are talking of free handouts (which they also got if you had the brain cells to recall!).
Give the man a fish and he has a meal for a day; give the man a fishing pole and he has a meal for life.
Keep digging the hole. You're doing an excellent job.
You save up and buy yourself some insight.... and a personaility as well if one is on sale.
First time EVER i've seen anybody from ZH hold the eurozone up like a hero while its own membership can't fucking stand being in it, and wishes every day.....that they could get the fuck out! Wanna lose your sovereignty.....join the fucking Euro.
The whole world is in a depression...don't blame your sorry ass problems on the EU.
He's a gangster. But he's a pro.
So where's the red line moving to this time?
This must mean the Chinese NatGas deal is coming very very soon. At which point its a massive "fuck you" to America and its dumb-as-shit "partners", then back to the Kremlin for vodka, chinese food and hookers.
Game. Set. Match....comrade.
When you actually have something with which to play the game with...
Putin Expected to Sign China Gas Deal as Crisis Forces Hand (3)http://www.businessweek.com/news/2014-04-09/putin-seen-signing-china-gas...
I love how they phrase it as though Russia is in some tough spot and this is some bailout, vs, an arrangement that has been in the works for a long time. If it was stated this way then that would point out the obvious, that Europe's future ability to pay for NG is in question.
And now the US counters:
Tesla Kicks Off China Sales This Month With Musk Helminghttp://www.bloomberg.com/news/2014-04-10/tesla-kicks-off-china-sales-thi...
There goes Russia's hopes of selling NG to China!
I live in Minneapolis. Flow of gas is something very important to those of us who live where you might freeze to death overnight 5 months out of the year. Even with welfare and Heating Assistance programs, and Cold Weather Shut-off rules, do you know what eventually happens if I don't pay the gas bill? The gas will, once it gets warm, be shut off. And it won't get turned on again until I pay up, including fees and interest, and a hefty reconnection fee, and probably a rather large downpayment on the next winter's bill. I'm free to not pay, of course. And I'm also free to freeze my balls off.
Do I complain about the gas company? Sure I do. But I always pay my bill. I'm fond of those parts which might freeze off. Is the gas company picking on me because they don't like me? Hell no. I could be a cross-dressing Nazi werewolf Earth Firster! and they'd keep the gas flowing merrily as can be, as long as I pay the bill. Sure, the gas company might come up with some payment alternatives if I can make myself useful to them in some other way, but the point is the outstanding bill.
I don't know why anybody thinks differently.
So there are one of three moves:
1. Russia East to West.
2. Ukr population to warmer Southern climates.
3. EU to Ukr from West to East.
What else is there ? Ukr will soon fill with Russians, oil and natgas contractors, or Europeans with IMF credentials.
Guess no one acknowledges this until the gas is shut off.
"Ukr will soon fill with Russians, oil and natgas contractors, or Europeans with IMF credentials."
Why? Is there natural gas under Ukrainian soil? I thought that Ukraine was just a pipeline route.
Insulation helps...and have you considered Geo Thermal?
Yes, and yes. Had the whole house insulated, which is a job for a specialist in a much-reconfigured 95 year-old house. And looked into geothermal, but the drilling in the middle of a city was said to be problematic. I also hear keeping the compressor running all the time burns a lot of watts so some of what you're not paying in gas goes to electric.I'm certainly keeping an eye on it though. I've got a few years left on the old gas furnace but when that time comes, I'll be looking at a wide, wide array of options.
How do Germany fit in with BRICS?
G-BRICS or BRGiCS?
maybe a Scrabble sounds like bridges ? BRICGs
Ziegel?
Putin needs the money to run his country...
Now the "pending" deal with china is defensive because china has already made a deal with Kazakstan that reduces the amount they need from russia significantly. See sweat on Putins brow and Chinese laughing because now price is negotiable.. commrade...
The ussa can cut the legs out from under Putin by accelerating the supply of ussa LNG to europe... despite all the experts saying it will take 10 years for the infrastructure ... BULLSHIT ....the only thing that would take 10 years to build the infrastructure would be shit eating politicians taking that long to divy up the crony kickback pie...... just like XL..
Want to create an economic boom.... BUILD THE FUCKING INFRASTRUCTURE muy pronto.... AS A MATTER OF "NATIONAL SECURITY"... yes run that up the flagpole and ussa will salute... man on the moon by june... mars ...maybe
just like Bechtel did in Algeria... accelerate after some peace loving muslim bros attacked thier facilities.... yazza they brought in double the equipment and hustled thier asses to get the fuck out of dodge ahead of shedule... THIS IS WHAT USSA'S INDUSTRIAL MIGHT USED TO DO... BUT NOW WE HAVE A DICKHEAD RUNNING THE SHOW WHO DOESN'T RECOGNIZE AMERICA'S EXCEPTIONALISM AND ABILITY TO DO THE IMPOSSIBLE.... HALIBURTON AND BECHTEL TO THE RESCUE.... FOR A "MODEST PROFIT" OF COURSE.... RATHER SOMETHING TANGIBE TO SHOW THAN SOME CONGRESSMAN ENRICHING HIS WIFE AND HIMSELF...and leaving dead bodies behind....
PASS THE GAS
Putin needs the money to update his military...which is shit.
Compared to whom...dooshnozzle ?
HOW WILL YOU BUILD A GAS PIPELINE ACROSS THE ATLANTIC?
Until there is an answer to that question, it doesn't matter whether they say the infrastructure is 10 years away or 10,000 years away.
Tankers.
The cost of freight is at an all time low...check out the Baltic Dry index.
"The cost of freight is at an all time low"
Um, delivery costs are one thing, the actual PRODUCT is another. Seems that PRODUCT costs are becoming a bit difficult... (and even with huge subsidies/price discounts Ukraine struggled)
That is a good point. But there are no technical hurdles. I really think this is a classic situation that the market could solve if the price is right...and the USA does have a duty and geostrategic imperitive to help Ukraine in this.
Putin needs to be boxed in for the sake of peace. And the Budapest treaty has all Americans on the hook for Ukraine's sovereignty. It is an obligation we must keep.
wow...you've been sooo foxed you wouldn't even know it...back to the box you go.
"china has already made a deal with Kazakstan that reduces the amount they need from russia significantly."
For HOW long? China's growth goal of 7%/year means they'll double their economy in only 10 years!
"Want to create an economic boom.... BUILD THE FUCKING INFRASTRUCTURE muy pronto"
That's "bubble,' not "boom." The additional infrastructure costs just mean there's that much LESS money available, on top of the mountain of existing debt. And, as Ukraine demonstrates, demand != payment.
How much gas does an empty city in China really require?
The "reality check" on Chinese industrial growth is found in the HARPEX index which has been on a steady decline due to lack of demand fro Chinese goods.
China isn't even a *paper* tiger anymore. China is now just a Ponzi scheme and the money/capital from China is flowing into Western Real estate...which should tell you all you need to know about the prospects for a Chinese future.
No argument about the bungling of capital by China.
And, really, I don't know what they're doing with the energy that they're IMPORTING/PAYING FOR, but they are clearly importing and paying for a lot.
BTW - If you've been around here for a while you'd have had to run across me stating that I didn't consider China to be a long-term player (because it's lacking in resources- my picks have always been: US, Canada and Russia).
Canada and Russia have the same problem -- their resources are in vast, sparsely populated areas which would be very hard to defend if push came to shove. To some extent this is true for the US (Alaskan oil) but to a much lesser degree.
It's quite comical, that the US now seems to think because they have poisioned there water tables for the gas, that now they are self sustainable, and have lots left to sell. Soon they will be out of gas and will be trying to buy water from Canada, which they already are.
Russia should now state that they don't want US $ or Euro for the gas just rubles and Yuan.
No worries, Yellin will just print up some gas for Europe. All problems are solveable by decree.
https://www.youtube.com/watch?v=2O8gTIr4lys
That is precisely what they will try.
Barring that...WAR.
There eventually is a difference between actually having resources and producing them by fiat, decree, let it be written, let it be so, etc.
This scenario is truly similar in light of what happens during an ischemic stroke. The blood supply to specific brain tissue stops because of stenosis or thrombus. The body attempts to shunt the blood thru other channels and if it can't then that brain tissue dies within minutes. People without oil/gas will react in the same way.
Lets hope this scenario doesn't turn into a watershed event.
Think of the environmental benefits!
Putin's "whatever it takes" beats Draghi's "whatever it takes".
Ha! Europe has a secret stash of unicorns!
It's "Pay to Play" for real.
Angela please make Putin stop it's starting to hurt now.
Time for Ukraine to gets its gold back from JPM to buy energy. Hopefully it won't take 7 years!
Putin Warns Europe "No Alternative... Will Cut Gas Supplies" Unless Europe pay their gas bill in ruble or euro.
Not easy to heat house with Nat Gaz derivatives!
There are certain positives that might come from this: Geothermal heating might be the best alternative and it creates jobs. And then there is insulation. Ukraine needs a lot of updating and could be a real paradise of prosperity.
And then there is the price of wheat from Ukraine to Russia...
Get long fur coat futures!
Minks are back in style in the Ukraine!
Insulated homes (Soviet era apartment complexes)...that is the low hanging fruit.
They're fucking BROKE!
It's like telling your bank that you cannot pay your mortage for a while and that you want to take out another loan (second/third mortgage) so you can remodel your home!
"And then there is the price of wheat from Ukraine to Russia..."
And what about it?
Would that somehow keep the Ukrainians from siphoning extra NG off the pipelines? (which Europe should be most concerned with, and, likely, is why they're jumping in hard here- might have less to do with Russia and more to do with Ukraine's black-marketing)
Geothermal = pipes shoved deep into the ground.
It's labor intensive but these Geothermal projects can run on workers fueled with Vodka...which the Ukraine also makes.
Geothemal is fine. Costs money for pipes (steel - also requires plenty of energy to create). And then what, do they just sit around and admire the heat? Not that I don't think that it's a bad idea to look to be energy self-sufficient (as long as you don't kid yourself and think energy is unlimited): I heat with wood from my property- the rate I burn at is less than the regrowth rate.
A well-managed woodlot (like mine and yours) is wholly able to provide one cord per acre in perpetuity. I have 40 acres so I stay pretty warm...
Amerika retaliates with Hillary's unconditional Pussy Riot endorsement!
better, Hillary join the group and would make a debut performance at the next AIPAC conference
You're on a roll! :-)
LOL...so is it Itchy or scratchy?
No! No! I don't want to know!
Obama squeezes Putin's flexed bicep. Hmmm....this is no cummunity organizer.
Oooooo hard choice!
Europe remains the slaves of the zionist bankers, they will freeze to death in the winter, or
Europe dumps the zionists and becomes Russia's slave, meaning they will get gas, but the zionists will crush them with their paper money
Which will they choose? hmmmm
Cold War!
I see what you did there... very clever.
Way to go Eurotards, becoming totally dependent on energy from a military power that could turn hostile in the blink of an eye.
What the heck did they do before the nat gas pipelines were constructed?
Well the Germans killed, directly or indirectly, some 20 million Russians in their quest to avoid exactly this situation. Didn't work out too well, and now they must dance to the tune of the UK/US axis while in reality they'd love to be part of a Berlin-Moscow-Beijing axis.
Nuclear, coal.
Its easy! no choice so pay up.
The message is clear simple: "Shut up and pay attention punks, the big kids are talking now."
LOL. Sanctionz bitchez!
I've been trying to learn some Russian for about a week now. Its actually pretty easy once you can comprehend that the language is a completely different game than English with different rules and characters and everything. It really is like discovering a whole new world. No wonder they are smarter than Americans, their language is like a 24/7 lumosity mind game.
13.4B is a drop in the bucket for the Mega Oligarchs.
Looks like the Europeans better rachet up the windmill farms. The Dutch have some beautiful retro designs.
And indeed... insulation.
If I may comment on the situation.
FUCK FUCK FUCK! Bloody fucking Nuland needs to be strung up. God damned fucking incompetents in the US State Department.
debt bro still has a bag of marbles and some checkers. relax.
If Putin shuts off the gas, just cut the pipe and insert it into Soros' asshole.
Got stupid? Owned, operated and managed by the same fuckheads that brought you JPM and Goldman "Sucks".
Listen to the Russian foreign ambassador provide the proper "schooling" to the POS from EU questioning his statements?
http://wakeupfromyourslumber.com/video/tom-sullivan/russia-dismisses-council-europe-farce-vote
Goblin News: http://www.youtube.com/watch?v=dfzMnP3ilcI