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Europe Needs A New Source Of Oil And Gas, Fast

Tyler Durden's picture




 

Submitted by Claude Salhani via OilPrice.com,

Summer is over and many Europeans may have to keep warm this coming winter by thinking about their summer holidays while wrapped in blankets, praying for a short winter or for the world to come to its senses. It both cases, they may well be disappointed.

The never-ending conflicts in the Middle East, mayhem in Libya, uncertainty in the Gulf and a war in Ukraine are all going to take a toll on the energy supplies this winter.

Russia sold 86 billion cubic meters of gas last year, all of which passed through Ukraine. Given what’s happening there now, it is highly unlikely that the Russians would allow their gas to transit a country they are (unofficially) at war with. Just as it is unlikely that Ukrainians would allow Russian gas access through its territory.

Result? Many cold Europeans, many angry Europeans and many very pissed off Europeans. Many Europeans will have to make do without enough gas to heat homes, offices and factories. That’s a bad prospect in northern European countries, where winter is no laughing matter. Winter defeated the armies of both Napoleon and Hitler.

And what does history tell us about cold, angry, pissed-off Europeans? Well, whenever two opposing camps got cold, angry and pissed off enough at each other in the past, they typically went to war.

War in Europe? In our time?

It’s not impossible. If current trends continue, it is not at all impossible. Here’s why:

1. Mounting tension between Russia and the West over Ukraine -- a situation that is very likely to worsen as the United States and European Union tighten sanctions on Moscow.

 

2. NATO forces edging dangerously close to Russian forces.

 

3. The spread of the violence and reach of the Islamic State. Besides the havoc they are creating in the region, there is the added threat of hundreds, if not thousands, of their supporters who have learned how to fight in Syria and Iraq returning to their home countries in Europe.

 

4. Turkey, which in recent years has played a stabilizing role in the region, is moving today in a different direction that could well lead to a new point of conflict.  From jumping head first into the Middle East conundrum under former prime minister and now President Recep Tayyip Erdogan, the country’s new prime minister, Ahmet Davutoglu, started off by possibly igniting a new fight when he announced -- much to the pleasure of Azerbaijan, and certainly to the dismay of Armenia -- that “the liberation of occupied Azerbaijani lands would be a strategic goal for Turkey.”

 

These remarks refer to the conflict between Armenia and Azerbaijan over Nagorno-Karabakh and outlying areas that have been occupied by Armenia since a violent conflagration around the time of the break-up of the Soviet Union. Armenians and Azerbaijani troops have been engaging in exchanges of fire on a daily basis over the past few months.

 

5: Mounting tension between Iran and Israel, and between Iran and an unnamed former Soviet republic in the region that Iran says allowed Israel to launch a drone from its territory to spy on Iran. Tehran has promised a stern response. The country in question is thought to be Azerbaijan, Armenia or Turkmenistan.

 

6. Continued mayhem in Libya, where the political turmoil is affecting the flow of oil and gas to Europe.

 

7. The continued state of unrest in Israel/Gaza and the surrounding area.

All these points of conflict are complicating Europe’s search for more reliable sources of energy. Europe is hoping to solve its gas shortage problems by purchasing Azerbaijani gas, but it’s unrealistic to depend only on Azerbaijani gas, since Europeans would be at the mercy of interruptions to gas and oil flows from this South Caucasus country.

What Europe desperately needs is a source of energy that with not be interrupted by conflict or politics, that can be delivered via pipeline or by sea, but will not need to transit through sea lanes in areas of conflict.

And although EU Energy Commissioner Guenther Oettinger said last week that he is not worried about gas supplies from Russia via Ukraine, that show of confidence did not stop him from going to Moscow to plead Europe’s case with the Russians.

So where does that leave the Europeans other than out in the cold? Trend energy analyst Vagif Sharifov believes the new bonanza of natural gas lies in the Arctic, where more than 1,500 trillion cubic feet of natural gas can be found.

But polar drilling comes with a high cost and huge challenges. Europe might need to keep looking.

 

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Fri, 09/05/2014 - 15:05 | 5185909 debtor of last ...
debtor of last resort's picture

Chopping as we speak.

Fri, 09/05/2014 - 15:22 | 5185974 HobbyFarmer
HobbyFarmer's picture

six cords of hardwood, chopped, dried, and stacked in my backyard.  last years brutal winter taught me you can never have enough wood set aside (I kept the woodstove running 24/7).

This winter isn't looking much better.....

Keep warm, y'all.

Fri, 09/05/2014 - 15:25 | 5185990 AlaricBalth
AlaricBalth's picture

In the winter time Kiev,Ukraine records indicate temperatures by day reach -2°C (28.4°F) on average falling to -7.7°C (18.2°F) overnight.

Going to be awful cold this year without fuel.

Fri, 09/05/2014 - 15:27 | 5186004 negative rates
negative rates's picture

Ther Ausies will deliver, at a cost that is.

Fri, 09/05/2014 - 15:34 | 5186026 Greyhat
Greyhat's picture

"Russia sold 86 billion cubic meters of gas last year, all of which passed through Ukraine."

Bullshit, Germany is directly connectet to Russias gas by the north stream pipeline and no war in Europe without us, the evil krauts! :)

http://upload.wikimedia.org/wikipedia/commons/5/58/Nordstream.png

 

This article is an oil money fracking PR job.

Fri, 09/05/2014 - 15:34 | 5186035 Herd Redirectio...
Herd Redirection Committee's picture

LONG blankets.

Fri, 09/05/2014 - 15:45 | 5186090 Relentless101
Relentless101's picture

And condoms. Lot's of cuddling for "warmth". That shit never fails.

Fri, 09/05/2014 - 15:48 | 5186108 Herd Redirectio...
Herd Redirection Committee's picture

I will buy diapers at the low and sell them ~9-15 months from now.

I'll be rich! Rich!

Fri, 09/05/2014 - 16:27 | 5186295 CrazyCooter
CrazyCooter's picture

Anyone who is serious about wool blankets for emergencies should very seriously consider purchasing surplus "Italian Wool Officer Blankets". Yes, make fun all you want of Italian military, but these are the best wool blankets you can find. I own *four*, two I use in my apartment and two I carry as emergency in my vehicle (I live in Alaska).

http://www.amazon.com/s/ref=nb_sb_noss?url=search-alias%3Daps&field-keyw...

These are generous in size (and I am tall) and very heavy. Do expect the moth ball smell! It does go away if you air them out properly.

Regards,

Cooter

Fri, 09/05/2014 - 16:30 | 5186315 Verminous Rex
Verminous Rex's picture

He phrased that poorly, 86bill went through Ukraine out of 165bill total to Europe from Russia

Fri, 09/05/2014 - 16:38 | 5186354 spieslikeus
spieslikeus's picture

So? Fucking Cleveland is colder than that by a long shot! How do I know? Damn, just reminded myself to be depressed again.

Sat, 09/06/2014 - 04:36 | 5187819 California Nigh...
California Nightmares's picture

And winter lasts about six months in Cleveland.

Fri, 09/05/2014 - 17:22 | 5186496 Kirk2NCC1701
Kirk2NCC1701's picture

<-- Come November/Dec, Gas-for-Rubles, Yen or Gold

<-- Come November/Dec, Gas-for-Dollars

Gas-math exercise:

   [1] Pay up, or it's "No Gas for You!" 

   [2] No gas = "No Soup for You!"

Solve nonlinear equations [1] and [2] for the "Gas Root" of Geo-Politics.  Tick, tock.

p.s. This is a re-post from my original post on Wed, 08/27/2014 - 11:52 | 5149326  

Sat, 09/06/2014 - 04:17 | 5187810 Oracle 911
Oracle 911's picture

Wrong currency, not Yen but Yuan. But still get it.

Fri, 09/05/2014 - 19:59 | 5187013 Rootin' for Putin
Rootin&#039; for Putin's picture

Fuck, i would break out shorts if i got a winters day like that.

Theres only 2 things you need to know about winter.

You cant call it cold until 0°F (-18°C)

And -40 is -40 whichever way you count it.

Fri, 09/05/2014 - 15:33 | 5186025 Seer
Seer's picture

I have a mild climate for winters, but to offset this I have a Filipina wife (requires household temps on the higher side).

My body is telling me to stop chopping, so I'm looking to get a splitter.  Not that I need yet another piece of equipment to manage, but I figure it's cheaper than medical bills...

Stacking for at least a couple years is a good idea because you might have a year in which you're pressed for time (or your body is revolting).

Food, shelter & water... AND energy (wood lot)!

BTW - I WISH that I was a hobby farmer.  Hobbies are things that you can set aside when you're not wanting to deal with them.  For me, my farm pactices require my attention no matter if I am aching and sick, no matter what the weather.  Sigh, I wouldn't trade it for anything!

Fri, 09/05/2014 - 15:42 | 5186075 HobbyFarmer
HobbyFarmer's picture

Yeah "hobby" is a funny word to tack on with the word farmer....since animals need to be fed, watered, cleaned up after and cared for multiple times a day. 

It's more of a "hobby" in the sense of my wife complaining about the time, effort, and money I pour into my farming endeavor.  "your hobby is costing us too much!"  "your hobby is keeping us from traveling somewhere tropical again!" "your hobby just pooped on the deck again!" etc.

;)

Fri, 09/05/2014 - 16:11 | 5186228 chunga
chunga's picture

LOL!

We draw the line at the deck. I shoot them with a squirt gun and they run away squealing what a prick I am. Someday it will all pay off.

At least that's what I keep telling myself after loading moar shit into the trailer with a shovel.

Fri, 09/05/2014 - 16:27 | 5186298 HobbyFarmer
HobbyFarmer's picture

haha!  the squirt gun works with the chickens and guinea hens....the ducks though!  what a mess.  They love getting wet and see a squirt gun as a sign of affection.  oh man, what a mess ducks can make on a deck.  they make great bug control, though.....

Fri, 09/05/2014 - 16:10 | 5186213 Nage42
Nage42's picture

Home management with a 'pina wife means you put a lock on the thermostate and tell her that "if she's cold, the heating is in the bed, where we share heat."

Definitely need your back in good health for "keeping warm" there too.  ;)

 

Fri, 09/05/2014 - 15:22 | 5185975 svayambhu108
svayambhu108's picture

Biogas from the human cattle.

Fri, 09/05/2014 - 15:31 | 5186015 SheepDog-One
SheepDog-One's picture

Or just connect all the media and politicians to hot air collection masks, all the heat anyone will ever need right there.

Fri, 09/05/2014 - 15:34 | 5186032 Seer
Seer's picture

Still can't help but think that it would stink to high heaven!

Fri, 09/05/2014 - 15:42 | 5186074 Dr Strangemember
Dr Strangemember's picture

They should stop getting angry and embrace their Global Warming theory.  

Fri, 09/05/2014 - 16:17 | 5186250 Syrin
Syrin's picture

Exactly.   Modern history tells us that cold angry Euroweenies will bend over, take it up the ass, let the gov't raise taxes for their "safety", then let their muslim immigrants behead them in broad day light.   Europe ain't what it used to be.

Fri, 09/05/2014 - 15:46 | 5186100 Ruffmuff
Ruffmuff's picture

So make  them crawl over to Potter, I mean Putin for some. Make the bankers crawl there too.

Fri, 09/05/2014 - 15:12 | 5185929 Doubleguns
Doubleguns's picture

They could frack in EZ but  I guess they would rather be cold or go to war first. 

Fri, 09/05/2014 - 15:30 | 5185931 Sudden Debt
Sudden Debt's picture

Belgium will have 3 hours a day per house of cut of electricity.
All.due to nuclear powerplants that had to be shut down because of cracks in the vessels.

http://www.amcham.be/FocusarticleAmChamBelgium/tabid/489/smid/1161/Artic...

http://www.nucnet.org/all-the-news/2014/09/05/belgian-regulator-says-doe...

http://blogs.wsj.com/brussels/2014/08/22/belgiums-nuclear-fiasco-spreads...

That's what happens when you sell government nuclear reactors to the private sector who does minimum maintenance for profits...

"With such a large portion of the capacity closed – only 19.5% of the total energy needs of the country can be met by remaining nuclear reactors – the security of supply during the winter months is threatened. If the energy deficit is not adequately solved, insufficient domestic generating capacity can result in power cuts and blackouts in periods of peak demand. Belgium must prepare for a difficult electrical winter."

I've got a small 5000 watt generator but we did the test and that's just minimal power use in the house. The heating will be off and the watersupply also. But we can cook and watch tele and we can recharge the phones and the freezers will stay online. But most people are so ill prepared.

And when the government says 3 to 4 hours a day... In belgium that means WAY MORE THAN 3 TO 4 HOURS!
That will mean stressed grid use and a system haywire that will put people off for days.

Fri, 09/05/2014 - 15:33 | 5186027 Al Huxley
Al Huxley's picture

You must be mistaken - your compatriots below say there's 2 - 5 years of gas in storage.  Call your utility and tell them they've made a terrible mistake, but they can turn the power back on now.  Send them a link to this page if necessary.  They probably just didn't know.

Fri, 09/05/2014 - 15:39 | 5186049 Sudden Debt
Sudden Debt's picture

Yeah right, that's why there's a small panick here.
The industry has no clue what's going to happen, belgium is a transit country, meaning: we store food for half of europe.
Now if the grid goes down, their generators will have a hard time keeping the freezers up.
Hospitals, older and poorer people... You name it. The industry in general...
All down.
I don't think this has happened in europe since woII that a country went dark.

And our neighbours? France and holland and germany?
They all have let us know that they have zero spare capacity. Now that's also scary, what if something happens over there also? Their nuclear plants all have the same age!

Fri, 09/05/2014 - 15:48 | 5186106 TheFourthStooge-ing
TheFourthStooge-ing's picture

Move the freezers out to the garage or an unheated storage shed in the winter. They'll use less electricity and they'll keep things frozen longer if the power goes out.

Fri, 09/05/2014 - 15:50 | 5186116 Anusocracy
Anusocracy's picture

Apparently they are the awesome American technology of Westinghouse WE-3 loop reactors.

Only outdone by the Fukushima GE reactor.

Have at all you ingroup chest beaters.

Fri, 09/05/2014 - 15:56 | 5186143 Sudden Debt
Sudden Debt's picture

A while ago, I saw a list of all nuclear reactors in europe who have the same cores. All from the 50's and 60's.
That who aren't closed and still work pose a severe threath.

Fri, 09/05/2014 - 20:23 | 5187063 COSMOS
COSMOS's picture

What is scary is that france has a shit load of reactors, 58 reactors !!!

http://www.world-nuclear.org/info/Country-Profiles/Countries-A-F/France/

I would think twice about that chateau in France.  These plants generate a crap load of radioactive waste that needs disposal.  France is not as big as the USA by far.  Where are they storing this SHIT.

Fri, 09/05/2014 - 15:57 | 5186152 Sudden Debt
Sudden Debt's picture

My back is busted man :)
And the big freezers are in the basement which is not heated.

But did you know that my solar panels also don't work? I can use the power from it!

Sat, 09/06/2014 - 04:44 | 5187823 California Nigh...
California Nightmares's picture

But the freezers EMIT heat. (As do the stereo, the lightbulb, the TV, the vibrator....)

Fri, 09/05/2014 - 17:11 | 5186474 Freddie
Freddie's picture

Start a bonfire in Brussels and throw Baroso, Van Rompouy and the rest on the bonfire to stay warm.  Burn down the EU HQ's too.

Fri, 09/05/2014 - 15:40 | 5186063 eddiebe
eddiebe's picture

Suppose they should have bought more wind turbines instead of US treasury bonds.

Fri, 09/05/2014 - 15:46 | 5186093 Al Huxley
Al Huxley's picture

Well, at least they have a TON of financial assets at their disposal.  All they have to do is sell a few of those treasuries and invest in energy production, or I bet 800 billion or whatever it is would by a fucking ton of LNG.  SD, feel free to pass this suggestion on to the appropriate individuals in the Belgian govt.

Fri, 09/05/2014 - 15:48 | 5186105 Anusocracy
Anusocracy's picture

mvd

Fri, 09/05/2014 - 16:12 | 5186231 Toyota echo
Toyota echo's picture

A 5000 watt Genny is not small, you need to see were you are wasting so much electric and retool.

Fri, 09/05/2014 - 16:49 | 5186401 Sudden Debt
Sudden Debt's picture

The usual, the freezers, tv, 4 ipads, 2 laptops, the microwave, lighting and 4 cell phones and poof, that's it man.
I kind of thought we could do more with it and after 4 hours it need a refill on the gas!

Fri, 09/05/2014 - 17:08 | 5186465 random999
random999's picture

5000w, with an laptop or pad sucking up 10-20w each, tv 100-150w, microwave boosting around 1000w for the 5 minutes it active. Yeah freezer sucking up at least 150w when its active (shouldnt be too long for a modern freezer). As for light you might wanna use led lights if ur low on power. 100w should keep you running a decent big house unless you need daylight brightness while heating ur noodles on doomsday...

Fri, 09/05/2014 - 17:30 | 5186542 Sudden Debt
Sudden Debt's picture

I have kids... And my wife has cold when it's below 24°C outside... And when it's 25°C she turns on the AC... You should see my monthly electricity bill...
But I've given up on that fight :)

Fri, 09/05/2014 - 16:17 | 5186256 Syrin
Syrin's picture

You trust gov't competence ?!?!?!   

 

Hey we found the ONE GUY !!!

Fri, 09/05/2014 - 16:51 | 5186407 Sudden Debt
Sudden Debt's picture

:) and I pay my taxes because it's only fair :)
Hahahahahahahahahahahahaha
Nah, just kidding, I pray to god I don't get a audit this year after my magic tricks I did :)

Fri, 09/05/2014 - 17:04 | 5186449 Reptil
Reptil's picture

All of that was known, and in contract.
http://www.milieurapport.be/IndicatorImageHandler.ashx?isDynamic=False&f...

One has to wonder... where are the alternatives? Where is the long term planning?
What intentions lie behind descisions like this?

Fri, 09/05/2014 - 18:42 | 5186761 Zé Cacetudo
Zé Cacetudo's picture

Your heat will be off but your television will be on. Nothing personal, but are you sure you've got your electrical priorities straight?

Fri, 09/05/2014 - 19:33 | 5186939 My Days Are Get...
My Days Are Getting Fewer's picture

Hopefully you have a diesel-powered generator - diesel is the cheapest fuel in Europe.

I had to run my 5500 watt machine in Vermont for 24 hours - gasoline-powered.  Tank holds 4 gallons (15 L). Run time = 9 hours per tank x 2.5 = 1 day = 10 gallons = 38 L

Cost in Vermont per day = US35.

How many days can you run in a crisis before your go broke or can not obtain fuel at any price.

Fri, 09/05/2014 - 15:13 | 5185932 Cynicles
Cynicles's picture

Have no fear, Banker's War to the rescue!

Fri, 09/05/2014 - 15:53 | 5186132 Ruffmuff
Ruffmuff's picture

A little reinvestment, little pop reduc, kick some people in the balls. The last stand of the banker elites. 

THough, I do like bankers jumping off buildings better. Makes me feel some warm and fuzzy justice inside.

Fri, 09/05/2014 - 15:16 | 5185941 Al Huxley
Al Huxley's picture

They've implemented sanctions on the Russians, I think they should take the next logical step and announce a program that REQUIRES Russia to deliver gas for FREE through Ukraine - that'll teach 'em, it will be good for the European economy, devastating for Russia, and also won't impede the war they're trying to get going.

Fri, 09/05/2014 - 15:26 | 5185997 Freddie
Freddie's picture

Yeah go get it Europeans.  Keep being a fool for Obama-Amerika.    Go to the Ukraine and die like the poor Ukie conscripts.

I have been watching videos on Col Cassad's web site.  The rebels or DNR are destroying the z-junta.  Poor kids being chewed up and killed for the Kiev oligarchs.

http://cassad-eng.livejournal.com/

Oh and here is Syrian girl showing the beheadings are total bullshit.

https://www.youtube.com/watch?feature=player_embedded&v=ICrSgJWKtQY

Fri, 09/05/2014 - 15:38 | 5186056 CheapBastard
CheapBastard's picture

It's heartwarming to see how the EU peeples are willing to freeze for the benefit of the imf, mic, bankers, etc.

 

 Touching, really.

Fri, 09/05/2014 - 16:42 | 5186365 Keyser
Keyser's picture

I suspect things will be heating up in Brussels around the time of the first freeze in the northern EU... 

Fri, 09/05/2014 - 18:00 | 5186619 Kirk2NCC1701
Kirk2NCC1701's picture

My friends in Germany tell me they are installing a coal/wood stove and buying both now.

Their furnaces still run on heating oil, and they've already bought in early summer, to get best prices.  Typical Germans:  budget and plan ahead.

They cook with electricity, so they're not worried -- other than having a higher electrical bill.  Normally German industry would 'puke' at the prospect, but they've been conditioned since 1945 to ask "How high?" every time the Allies say "Jump!".  All very predictable, and no Predictive Programming SW is required from CYA Psy Ops.

They figure that the "Amis" ('Yanks') hold better cards than Putin, because the EU will comply with US demands (kowtow to NY and DC), because Russians cannot simply redirect their gas sales elsewhere (China pipeline years off).  Nor do they see Russia/Gazprom shutting off gas to the EU, as that would make the Russian Government Budget implode.

They see ongoing brinksmanship on both sides, with the Amis tightening the screws to Russia, to cause political and social unrest and Regime Change.  In any event, they see the US trying to stay in the GRC driver's seat and their MSM to dictate the Talking Points and sound bites -- until whatever message TPTB have, is regurgitated by the US and EU masses. 

They think that Russia would have to get China and other BRICS to accelerate their de-Dollarization at break-neck speed, with the US trying to slow/mitigate that, in what is now clearly a full Cold War and Economic War in Russia.  Never mind that the US (Fed) actually needs a Cold War to slow de-Dollarization.

Fri, 09/05/2014 - 21:40 | 5187293 TeethVillage88s
TeethVillage88s's picture

Ker-k;

Reminds me of Zofo.

"Summer is over and many Europeans may have to keep warm this coming winter by thinking about their summer holidays while wrapped in blankets, praying for a short winter or for the world to come to its senses."

"Leaves are falling all around, It's time I was on my way.
Thanks to you, I'm much obliged for such a pleasant stay.
But now it's time for me to go. The autumn moon lights my way. For now I smell the rain, and with it pain, and it's headed my way. Sometimes I grow so tired, but I know I've got one thing I got to do"

Read more: http://artists.letssingit.com/led-zeppelin-lyrics-ramble-on-23zx4jq#ixzz...
LetsSingIt - Your favorite Music Community

Fri, 09/05/2014 - 15:29 | 5185952 Dr. Engali
Dr. Engali's picture

This is standard operating procedure by those in power to get what they want. They always have the peasants take the direct impact of there policies. If TPTB want more spending they shut down those vital services that the peasants see. They never cut the real fat out of the system, and the stupid iSheeple keep falling for the same old tricks. This is the same thing, they want war but they need to blame it on somebody else. The best way to do that is have the peasants freezing and then blame Putin. Next thing you know the MIC gets massive funding and the bombs start dropping. Make no mistake, this is no accident.

Fri, 09/05/2014 - 15:19 | 5185956 JustObserving
JustObserving's picture

When you become America's whore, there may be some consequences.  79 Nuclear reactors in France are 79 potential Fukushimas. Have a nice day. The nights will be a lot colder. Perhaps, all the hot air from the Nobel Prize Winner will help.

Fri, 09/05/2014 - 15:21 | 5185964 AGoldhamster
AGoldhamster's picture

What a bunch of crap.

Storage of oil and gas in Europe for over a year available.

And neither oil nor gas will stop flowing.

 

Just the noise makers and fear mongerers who have to sell something can never get enough of this crap.

 

ZH once was a reall good site.

Finally it seems also to become mainstrain. Content wise. Still the best mainstream though. But mainstream.

 

Fri, 09/05/2014 - 15:21 | 5185972 Sudden Debt
Sudden Debt's picture

The gas terminals in zeebrugge have been empty for a while and in france there are also storage issues

Fri, 09/05/2014 - 15:34 | 5186031 AGoldhamster
AGoldhamster's picture

Some may be empty - other are full of it. And again others will be happy to fill the empty ones. Aside of the fact that central Europe has increased renewable energy resources and aside of tht fact that most already have filled/ordered their winter needs. Aside of the fact that neither Putin nor Angela are such idiots like the ones writing such incredible stupid articles - as both depend on each other; Europe needs the energy - and Russia needs the income. There's no way around it. Both ways.

But above article's content is as worthless and disgusting as is yahoo messageboards content. A shame that ZH reposts such fear mongering nonsense.

Fri, 09/05/2014 - 15:45 | 5186091 TheFourthStooge-ing
TheFourthStooge-ing's picture

.

But above article's content is as worthless and disgusting as is yahoo messageboards content.

You've been here for four and a half years, and it's taken you this long to figure out that most articles from oilprice.com are little more than petroleum peddlers' puffery pieces?

Fri, 09/05/2014 - 16:02 | 5186178 AGoldhamster
AGoldhamster's picture

Sorry - I already skip a lot. Maybe that is the reason I was not aware of it. But thanks for confirming my thoughts. Where as my problem is not that site - but that ZH publishes such stuff - and that way is becoming mainstream.

Fri, 09/05/2014 - 17:02 | 5186446 Seer
Seer's picture

Then by all means waltz over to Yahoo.  Don't let the door hit you on your way out.

BTW - A member for four years here and you've learned nothing?

BTW2 - Europe is BROKE!

Fri, 09/05/2014 - 15:26 | 5185995 centerline
centerline's picture

Picking funky authors.  Perhaps for commentors to pick apart.  Perhaps an aggenda for the weaker minded.  Who knows.  Personally I dont give a flying rats ass anymore.  Ill just call it as it see it - which is usually just some asshat talking his book... like the NPR piece this morning.  Something about a survey done by realtors found that 96% of housing is still affordable to college grads and they better get in soon!

 

 

Fri, 09/05/2014 - 16:02 | 5186174 Spastica Rex
Spastica Rex's picture

ZH has always published crap along with the better stuff. Some of the crap has been manipulative. I'm not sure if the signal to noise ratio of articles has even changed much over time, actually.

Fri, 09/05/2014 - 15:29 | 5186013 pathetic looser
pathetic looser's picture

can you suggest some alternatives ? not fucking with you , a serious question.

Fri, 09/05/2014 - 15:43 | 5186088 AGoldhamster
AGoldhamster's picture

Unfortunately no - still the best. I check it daily several times.

But ... unfortunately a lot of crap you have to skip and work thru.
Very much like other media sites.

But still the best.

Although - trading wise - I won't give them a single cent. With their permanent lamenting about soaring stocks (what obviously they hate) and plunging gold (which obviously they are in love with).

I have it with M. Armstrong. Leave aside emotions - go with the flow and with the markets. It's not about love or hate - it's about recognizing what is going on, where and why funds are flowing this direction or that. And that is what we trade. Everything else is waste of time.

A lot of stuff here - in the meantime - has become waste of time.

Fri, 09/05/2014 - 15:34 | 5186028 himaroid
himaroid's picture

They are doing pretty well, considering it has all been said. We are just waiting for GODOT.

Fri, 09/05/2014 - 16:06 | 5186181 Lore
Lore's picture

A wise thinker is skeptical about new ideas and asks intelligent questions. A wise-ass poser pisses on things indiscriminately and justifies none of his statements. Anyway...

The article makes the annoying presumption that the Arctic will fulfill recent pie-in-the-sky projections having no more credibility than the confirmation-biased projections of global warmists in the 1990s.  By analogy, you don't know the neigbhor's wife is hot until you actually SEE her.

Fri, 09/05/2014 - 16:07 | 5186198 himaroid
himaroid's picture

An even wiser thinker would read the article and see that the author did not presume such.

Fri, 09/05/2014 - 16:22 | 5186249 Lore
Lore's picture

Clarification: My first statement was directed at GoldHamster. I'm not criticizing the author of the ZH article. It's a good summary. But the notion that Europe's energy future lies to some extent in the Arctic is daunting. Europe is collapsing. Will crisis motivate leaders to collaborate & reallocate capital constructively?

Fri, 09/05/2014 - 16:21 | 5186272 himaroid
himaroid's picture

Cool, let's go make a drink. Have a good one.

Fri, 09/05/2014 - 16:22 | 5186259 Urban Redneck
Urban Redneck's picture

If no nation on earth has one full year of storage capacity to match current oil and gas consumption (incl. re-export), then how do you arrive at the conclusion that the sum total of the entire continent of Europe has over a year's worth of storage capacity?

(the article is crap, but your response is more of the same...)

Fri, 09/05/2014 - 15:23 | 5185976 RisingSun
RisingSun's picture

"That’s a bad prospect in northern European countries, where winter is no laughing matter. Winter defeated the armies of both Napoleon and Hitler."

 

Lets not panic here, most countries in Northern/Eastern Europe got at least 2-5 year gas reserves, Baltics will be supported by Norway(they said so themselves) if Russia cuts off gas. We got Statoil already here, no reason for them to not expand. Poland, Czech etc I am sure got reserves also.

 

As for Russia, if they cut the gas off, there is no "un"cutting it back, they can sit on their gas for all I care, that makes up 70% of their export.

Fri, 09/05/2014 - 15:29 | 5186009 Jano
Jano's picture

2-5 years gas reserve.

Moron, you missed it by order of magnitude. it is 2-3 months in a BEST case.

Do you live here?

Do you know the cycle?

Or you rae just paied with cookies and 20 dollars/day, like Maidanists?

Fri, 09/05/2014 - 15:43 | 5186081 schatzi
schatzi's picture

Merkel said 5 months worth for Germany and stockpile building. There are alternate sources too. Personally hope it comes to that. Europe does not need to be politically blackmailed. I'd pay much more for my energy if it comes from less unsavoury sources. Fracking, North sea, renewables, nuclear, brown coal and others, mainly from innovation. If Russia loses out on a majority of its exports, it would mean many millions of jobs lost in a country with extreme wealth inequality. Lets see who folds first. I'm guessing trying to justify Lebensraum to some chap in Novosibirsk is not going to work. Then he has his oligrachic pals to deal with too. Invading foreign countries has no place in Europe of the 21. cent. There never is a reason, otherwise I could find half a dozen reasons why Hitler had the right to invade its neighbours.

Fri, 09/05/2014 - 16:10 | 5186221 angel_of_joy
angel_of_joy's picture

Is this the kind of BS wich goes for "mainstream" thinking nowadays in Germany ? Boy, are you in for a surprise... But then, nobody forced you to close your nuclear reactors right after deciding first to upgrade them... It's like that old joke "please turn-up the radio, then off"...

Fri, 09/05/2014 - 23:55 | 5187566 schatzi
schatzi's picture

Yeah, because nuclear plants cannot be restarted. The facilities haven't evaporated into some nirvana.

Fri, 09/05/2014 - 15:33 | 5186033 TheFourthStooge-ing
TheFourthStooge-ing's picture

Dream on, RisingSüdi, because nobody is going to save the baltics.

Norway only said that to try to shut up the baltic whining.

NATO only views you as a boat dock, landing strip, and staging area.

Russia couldn't care less about you. You flatter yourselves if you think they will ever invade. There is nothing worth taking, as all they would get is a tiny piece of land filled with delusional crybabies.

Fri, 09/05/2014 - 15:46 | 5186098 Herd Redirectio...
Herd Redirection Committee's picture

The existence of St Petersburg (never mind Sebastopol, Murmansk or Vladivostok) plus Kalinigrad render the Baltic states irrelevant to Russian interests.

Fri, 09/05/2014 - 15:49 | 5186109 schatzi
schatzi's picture

Seriously? You think the Balts and Poles have no reason to fear Putin? They have every reason. He envisages a greater Russia that includes territories lost in its UDSSR breakup and before. Lots of Russian minorities he could build a similar case for, just as he did in Ukraine. Personally feel for my eastern neighbours. Russia is the last place I'd want a border with.

Fri, 09/05/2014 - 16:01 | 5186172 TheFourthStooge-ing
TheFourthStooge-ing's picture

.

He envisages a greater Russia that includes territories lost in its UDSSR breakup and before.

What utterly senseless bullshit.

Fri, 09/05/2014 - 17:16 | 5186492 Freddie
Freddie's picture

The Baltics only concern is if more russians move into those countries like Mexicans and everyone else flooding itno Obama-Amerika.   As far as invasion - they should stop whining Russia is not interested.  They should worry more about EU-Zio-USSA scum.

Fri, 09/05/2014 - 23:58 | 5187572 schatzi
schatzi's picture

So someone who stated publicly, that the greatest desaster for Russia was its post cold war breakup and loss of territory. A guy who has a track record of invading countries. Connecting dots aint your forte?

Fri, 09/05/2014 - 15:52 | 5186115 AGoldhamster
AGoldhamster's picture

Spot on. Nothing else to add.

Except: there are plenty here who would wish that Europe would just have gas for 2-3 months. That would make them smile and grin - as pointing with fingers makes soooo much fun. Poor brain washed psychos.

 

Fri, 09/05/2014 - 15:24 | 5185981 buzzsaw99
buzzsaw99's picture

Europe is just plain lazy. If they invested in storage and stockpiled during the summer via tanker it would be a non problem. Blaming the usa may be popular but they are the retards who leave it to Putin to store their natty for them every year.

Fri, 09/05/2014 - 15:27 | 5186001 Soul Glow
Soul Glow's picture

A stockpile still has storage costs.

Fri, 09/05/2014 - 15:31 | 5186022 himaroid
himaroid's picture

Not many preppers on this galactic ship of fools.

Fri, 09/05/2014 - 16:25 | 5186294 css1971
css1971's picture

They do. The article is both ignorant and alarmist.

Most nations have several months supply stockpiled.

Fri, 09/05/2014 - 15:23 | 5185984 Seize Mars
Seize Mars's picture

Pfft. Try winter in the American Midwest.
Now that's fuckin' cold.

Fri, 09/05/2014 - 15:30 | 5186010 himaroid
himaroid's picture

Most of Europe is farther north than you. All but Spain, Italy and Greece are north of Maine.

Fri, 09/05/2014 - 15:36 | 5186039 TheFourthStooge-ing
TheFourthStooge-ing's picture

True, but the American Midwest isn't warmed by the Gulfstream current.

Fri, 09/05/2014 - 15:38 | 5186054 himaroid
himaroid's picture

In that case I recommend Kentucky anti freeze. 

Fri, 09/05/2014 - 16:25 | 5186286 Villageidiot777
Villageidiot777's picture

American Midwest cold? Wikipedia says from 10s and 20s in winter, I guess those are Fahrenheit.

Here we normally get less than -20 F and average around -5 F, it's a good thing we have the Gulfstream.

Fri, 09/05/2014 - 15:25 | 5185991 Warrior85
Warrior85's picture

Sorry, but this is a bullshit article!!! Europeans won't be cold this winter. They might have to pay a little more for heating this winter but that is all. War is far away from the EU countries. They are all Nato members and how could NATO be at war with Russia? That would be WW3 and that would go nucleair. Both parties would think twice before going on that path.

Fri, 09/05/2014 - 15:57 | 5186150 AGoldhamster
AGoldhamster's picture

But the brain washed sheeple here like it.

As they are like the blind lemmings - being led by the one eyed.

Fri, 09/05/2014 - 18:43 | 5186767 CCanuck
CCanuck's picture

I get the feeling Zero and Reggie are running around with a tube wondering where their little golden friend is.

Fri, 09/05/2014 - 16:01 | 5186173 JohnG
JohnG's picture

 

What makes you beleive they actually THINK???

MAD depends on rational actors.  The US government is clearly not rational.  Warmongering scum is what they are.

They need a war to blame the collapse on.  They have been trying just a little too hard lately.  All over the middle east, Ukraine, fucking with China.

War is what they want.

Fri, 09/05/2014 - 17:20 | 5186499 oudinot
oudinot's picture

They don't want a nuclear war.

Fri, 09/05/2014 - 15:26 | 5185996 Soul Glow
Soul Glow's picture

And imagine if world production begins to fall at the same time.  It's begening to look probable.

Fri, 09/05/2014 - 15:27 | 5185998 SheepDog-One
SheepDog-One's picture

Easiest problem ever to fix.....just print up huge piles of currency and burn it.

Fri, 09/05/2014 - 15:46 | 5186094 Mitzibitzi
Mitzibitzi's picture

Thought we were already doing that???

Fri, 09/05/2014 - 15:56 | 5186148 SheepDog-One
SheepDog-One's picture

Yea but not directly in furnaces though.

Fri, 09/05/2014 - 15:32 | 5186023 jacship
jacship's picture

GASWARS 0.14.9

start looking for a winter-destenation thats warm

FORE

Fri, 09/05/2014 - 15:34 | 5186029 Spungo
Spungo's picture

Nothing will happen. Putin wants cash just as much as Europe wants gas.

Fri, 09/05/2014 - 15:39 | 5186055 U4 eee aaa
U4 eee aaa's picture

But Putin has China

Fri, 09/05/2014 - 15:40 | 5186051 SocialismIsCancer
SocialismIsCancer's picture

Western Europeans deserve to freeze hard for their gross negligence of defence spending, gross negligence in developing diverse sources of supply, gross negligence regarding the threat posed by Putin's control of Russia, and most of all because of their stunning corruption and decadence in running their finances into the toilet while splurging on the entitlement socialist lifestyle. I hope that Putin jacks up the rates for gas & oil to Europe to crushing levels because the western Europeans need to be shocked out of their fantasy socialist lifestyle and degenerate socialist political system. Squeeze, Putin, Squeeze Hard - YIPPEE !!!

Fri, 09/05/2014 - 17:09 | 5186471 MeelionDollerBogus
MeelionDollerBogus's picture

Negligence? Putin has nuclear weapons. Nothing anyone can say or do can actually hold back Russia & you ought to know that.

Fri, 09/05/2014 - 17:28 | 5186534 TheFourthStooge-ing
TheFourthStooge-ing's picture

.

Western Europeans deserve to freeze hard for their gross negligence of defence spending,

That would be a waste of money that they don't have.

gross negligence in developing diverse sources of supply,

A somewhat valid point, although even during the cold war the Soviet Union was a reliable supplier of natural gas to Europe. Too bad NATO screwed the pooch in Libya, ruining a reliable supplier.

gross negligence regarding the threat posed by Putin's control of Russia,

True, but perhaps not in the way you meant it. Russia poses no threat to Europe, so the imposition of sanctions on Russia was negligent, as the sanctions harm Europeans and only benefit the criminals in Vichy DC.

and most of all because of their stunning corruption and decadence in running their finances into the toilet while splurging on the entitlement socialist lifestyle.

That's the 'american' way. But hey, Western Europeans are 'american', so why not?

Fri, 09/05/2014 - 15:37 | 5186052 U4 eee aaa
U4 eee aaa's picture

Why don't they scrape the frozen methane off the sea bed floor?

Fri, 09/05/2014 - 15:41 | 5186061 Mike Masr
Mike Masr's picture

As Victoria Nuland says, "Fuck the EU"!

Fri, 09/05/2014 - 15:41 | 5186066 SmittyinLA
SmittyinLA's picture

Our Middle East occupation has pretty much been with both Russia and China's consent, either one could have done to us what we did to them in the 1980s in Afghanistan (passed out Stinger missiles like candy to Mujahudeen aka Taliban), they didn't because we weren't enemies anymore.

 

Fri, 09/05/2014 - 16:32 | 5186318 DFCtomm
DFCtomm's picture

I tend to disagree. Who couldn't see our adventures in the ME becoming a tar baby? It was smart to allow us to flounder in the ME. The difference between the U.S. in Afghanistan and Russia in Afghanistan is the fact that our failure was guaranteed by our wishy washy morals, but Russia didn't have those moral problems. They would have came in and ruled Afghanistan with an iron fist, just the way Afganstan likes it. There was no need to sabotage us, the failure was built in.

Fri, 09/05/2014 - 15:41 | 5186067 debtor of last ...
debtor of last resort's picture

Cost of public (street) lighting in Holland is about €5 billion a year. So it will be cold AND dark coming winters. And that's a very good thing, because we will have a lot of children and don't have to 'import' moar IS supporters.

Fri, 09/05/2014 - 15:40 | 5186068 dumbStruck
dumbStruck's picture

Europe can solve it's heating problem. Go nuclear.

Fri, 09/05/2014 - 15:42 | 5186078 JustObserving
JustObserving's picture

After all, it has worked out so well for Fukushima.  You cannot go wrong with GE technology.  Or Monsanto, for that matter.

Fri, 09/05/2014 - 15:43 | 5186079 debtor of last ...
debtor of last resort's picture

On russia?

Fri, 09/05/2014 - 15:50 | 5186118 bluskyes
bluskyes's picture

The eastern front never felt so warm.

Fri, 09/05/2014 - 15:41 | 5186072 vincenze
vincenze's picture

Excuse me.

Europeans have been fighting Global Warming for years. Now, they have a rare chance of reducing consumption of heating gas and oil.

Their interests are opposite to Russia's, which would prefer warmer temperatures. Siberians would like to grow bananas and sunbath in January.

Fri, 09/05/2014 - 15:42 | 5186073 Bankster Kibble
Bankster Kibble's picture

I predict that Europe will invade Ukraine and take over management of the pipelines.

Fri, 09/05/2014 - 15:52 | 5186130 Tenshin Headache
Tenshin Headache's picture

Of the empty pipelines.

Fri, 09/05/2014 - 15:43 | 5186085 Otto Zitte
Otto Zitte's picture

Go long The North Face

Fri, 09/05/2014 - 17:56 | 5186608 Volkodav
Volkodav's picture

Canada Goose is best

Fri, 09/05/2014 - 15:44 | 5186092 bardot63
bardot63's picture

The future of Ukraine will become a lot more clear in about 70 days.  That's when Europe starts freezing, and that's when we'll know who's bluffing and who's not.

Fri, 09/05/2014 - 15:49 | 5186113 NewAmericaNow
Fri, 09/05/2014 - 16:30 | 5186313 Huckleberry
Huckleberry's picture

Link leads to virus

Fri, 09/05/2014 - 17:36 | 5186565 ijunk
ijunk's picture

I reported this guy about a month ago, I guess they don't care. He's definitely doing it on purpose... you can see in his history he was linking to .pif files which have no legitimate purpose.

Fri, 09/05/2014 - 15:52 | 5186128 Sleepless Knight
Sleepless Knight's picture

Just open more bank accounts and get as many spiderman towels as possible - no problem, theyre really warm.

Fri, 09/05/2014 - 15:59 | 5186160 vyeung
vyeung's picture

looks like the author of the article is not particularly informed. Worthless article. Not a common occurance for ZH, but then every one has its days.

All the article does is provide fear factor without anything as an alternative. I'm suprised the author didn't suggest the moronic idea presented by DC fascists that they would supply EU with the missing Russian gas and oil. Soooooooo pathetic.

LMOA!

Fri, 09/05/2014 - 16:41 | 5186362 quadratic_equation
quadratic_equation's picture

Yes, the good ol' USA will supply them but it will have to be shipped by ocean transport since there's no existing pipeline thru the Atlantic which will cost more and probably turn the Southern European economies into depression since they have high unemployment and now will have to make a choice of buying gas for heating and cooking or buy food.

Fri, 09/05/2014 - 16:48 | 5186387 MeelionDollerBogus
MeelionDollerBogus's picture

Is be no problem, comrade! America is be ship for twice of price, Russian then is see what customers willing be pay NEXT TIME around!

Tetris, Ivan win!

Fri, 09/05/2014 - 16:02 | 5186176 talisman
talisman's picture

The only thing that EU needs to do to
assure themselves of adequate gas supply
is to get rid of the USAIPAC Nazi regime
in Kiev and give the government back
to Ukrainians...and be sure that Eastern
Ukrainians get treated fairly.

Russia's two new pipelines would also
help, since the Ukraine pipelines are getting
pretty old, and Ukrainians have not been
notable for infrastructure maintenance.

Fri, 09/05/2014 - 16:03 | 5186182 SRVDisciple
SRVDisciple's picture

Build a chain of Taco Bells. Gas problem solved.

Fri, 09/05/2014 - 16:22 | 5186203 Boogity
Boogity's picture

If Russian gas gets blocked this winter by the EU's goose-stepping Uke stooges, in order to stay warm, maybe the EU countries should burn the army of EU bureaucrat parasites in Brussels. They should then consider burning their horde of inbred royal aristocrats, starting with the Brit Royal family, and then onto the Dutch and the Spanish royal familes, etc.   The shivering EU countries can add some more heat by burning fetuses they abort from their women who are being impregnated left and right by Muzzie and African dudes who have successfully conquered all of the major EU cities without firing a shot.   And then finally, the EU men can contribute their dicks and nut sacks to the growing bonfire because they sure as hell don't use them. 

Note: This post may be sarcasm, in the vein of Jonathon Swift who suggested that the Irish eat their children to avoid starvation.

Fri, 09/05/2014 - 16:16 | 5186246 vincenze
vincenze's picture

Europeans should learn Russian recipes against cold.

 

  • a mink coat and hat
  • a bottle of Vodka
  • a hot girl sleeping nearby

 

Fri, 09/05/2014 - 16:19 | 5186260 Last of the Mid...
Last of the Middle Class's picture

Eurocicles! Stack 'em like cord wood till spring.

Fri, 09/05/2014 - 16:19 | 5186261 Grouchy Marx
Grouchy Marx's picture

"And what does history tell us about cold, angry, pissed-off Europeans?"

Recent history suggests they would order another espresso with some Brie and do nothing. Pissed-off Americans would pop a beer and channel surf.

There's a lot of anger, but not enough - yet.

Fri, 09/05/2014 - 16:24 | 5186270 DFCtomm
DFCtomm's picture

AS you can see in the article following this one Argentina is going full Socialist, and that doesn't bode well for economic production. Do you think they will be able to supply very much of that 10 B worth of food that Russia won't be getting from Europe, and do you think that  the U.S. will be able to meet Europes energy needs? Those are powerful motivators to find a compromise, so what will this mean for the current world order. Will Russia and Europe choose fuel and food over cold, hunger and NATO?

Fri, 09/05/2014 - 16:42 | 5186367 MeelionDollerBogus
MeelionDollerBogus's picture

Argentina is going Socialist...

Germany is going Snowshalist!

Fri, 09/05/2014 - 16:55 | 5186420 DFCtomm
DFCtomm's picture

You're the Mr. Pibb of Zero hedge.

Fri, 09/05/2014 - 16:56 | 5186412 Flybyknight
Flybyknight's picture

It is long past time america got over its fear of the big boogieman socialism

As a country you are ok with being taxed and bailing out the banks,financing the worlds largest millitary, financing the worlds largest big brother surveillance operation but when another country attempts to look after its citizens in the way they see fit we get this socialism is evil stuff. I do agree with your thoughts on Europe however

Fri, 09/05/2014 - 17:05 | 5186450 DFCtomm
DFCtomm's picture

Knee jerk much? I was only interested in their socialist turn because I recently heard a rumor that they would be supplying food to Russia, and has high production and Socialism ever worked together in the past?

 

 

 

P.S. Socialism is evil.

Fri, 09/05/2014 - 16:23 | 5186273 Sick
Sick's picture

I have a solution for the Europeans.....TAP ALL THE HOT AIR FROM YOUR GOVERNMENT AND IT'S LEADERS> Out

Fri, 09/05/2014 - 16:25 | 5186274 falak pema
falak pema's picture

What Europe needs more than anything else is to get out from under the wing of Pax Americana in its current universal empire form, without reverting to its atavistic natiionalistically fed history of a thousand, nay two thousand, years of wars and blood letting.

The continent was forged during the Enlightenment phase to defend the concept of human freedoms. Can it achieve it  without reverting to MAD :  its regressionary trajectory of WW1 & WW2...?

Big if ! 

As for energy supply it has to diversify without getting sucked into colonial or preadtory logic for its survival. Russia obviously stays a large constant component of that logic as continental neighbour. 

The world has to live under the same roof. Its getting smaller n smaller.

Fri, 09/05/2014 - 16:25 | 5186289 NoWayJose
NoWayJose's picture

$2 billion to develop their own natural gas supplies - $10 billion lost due to sanctions, Ukraine bailouts and loans, and supplying weapons and war materiel for Ukraine,

Fri, 09/05/2014 - 16:30 | 5186309 debtor of last ...
debtor of last resort's picture

Complete bullshit. 70% of exports from Russia goes to EU.

Cutting off the gas would mean MAD. Derivatives blowup etc etc, financial nukes going off everywhere.

Next major fuckup; China cuts gas deal with Russia. We're all in the same sinking boat of EROEI.

Fri, 09/05/2014 - 16:32 | 5186319 quadratic_equation
quadratic_equation's picture

"Trend energy analyst Vagif Sharifov believes the new bonanza of natural gas lies in the Arctic, where more than 1,500 trillion cubic feet of natural gas can be found."

But much of the Arctic is Russian territory.  So what to do?

Fri, 09/05/2014 - 16:31 | 5186321 quadratic_equation
quadratic_equation's picture

"Trend energy analyst Vagif Sharifov believes the new bonanza of natural gas lies in the Arctic, where more than 1,500 trillion cubic feet of natural gas can be found."

But much of the Arctic is Russian territory.  So what to do?

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