German official Stephen Kramer predicts energy rationing riots that will make anti-lockdown unrest look like a “children’s birthday party” in comparison, Paul Joseph Watson wrote on The Summit News.
The EU has sanctioned themselves into abject misery and grave danger. He could be correct.
Hungary, which is about 85% dependent on Russian gas, is trying to bolster its reserves before the cold season. Budapest has been strongly opposing calls to introduce EU sanctions on Russian gas imports. The country’s prime minister, Viktor Orban, has also managed to secure an exemption from the bloc’s sanctions on Russian crude oil imports.
Hungary along with Poland refused to support the EU’s rationing plan aimed at cutting gas consumption by 15%.
Giving up Russian gas would be suicidal for these nations.
Hungarian National Assembly Speaker Laszlo Kover has condemned the EU’s economic sanctions on Russia as “wrong to the core,” predicting economic devastation as a result. Kover, a long-time critic of the bloc, added that Hungary’s success depends on cooperation with both East and West.
It is suicidal for Germany, but they are doing it anyway.
The EU is up to their 7th sanctions package. The first six isn’t stopping Russia and is hurting the West far more, so, they are doing another one.
This next set of sanctions will ban Russians from traveling to EU member states. Latvia, Estonia, and Lithuania are pushing for this sanction. It won’t hurt the Russians and it won’t stop their war on Ukraine. That’s obvious but they’re doing it anyway.
The gas and oil issue is the worst of the sanctions. The predictions in the clip below are very alarming, If true and if the sanctions are not reversed, people will die needlessly, and Russia will be fine. Biden isn’t going to do a thing to help them after November. That’s our prediction.
Michael Shellenberger also believes the EU is facing a frightening situation.
He writes, “Skyrocketing natural gas prices are ravaging Europe and oil prices are likely to pop once Strategic Petroleum Reserve releases end, and yet the Biden administration has “no energy plan past November,” a senior energy industry insider tells me. Scary stuff.”
The world’s largest chemical company, BASF in Germany, just announced it would further cut ammonia production due to high and rising natural gas prices, which could result in shortages of the ingredient used in many items including fertilizers, plastics, and carbonated beverages.
Energy bills are expected to reach over £500 per month for consumers in the UK. “Huge swathes of the British public aren’t going to be able to afford their bills this winter,” said an energy expert. “Average families with two working parents will be in fuel poverty.”
And while global crude oil prices came down thanks to releases from the U.S. Strategic Petroleum Reserve (STR), Saudi Arabia will price its flagship crude oil to Asia at a record price for September, “highlighting a potential turning point for the market,” according to Bloomberg.
And yet the leader of the free world, President Joe Biden, has no intention of significantly expanding American oil and gas production and indeed has no energy plan beyond November, according to a senior oil and gas industry lobbyist who spoke on the condition of anonymity.
Biden’s only plan is to empty out the strategic oil reserves until November and keep his jackboot on oil, gas, and coal production. His administration will cut half the coal production in the US.