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More Fallout From the Nord Stream Pipeline Attacks

There were questions in Washington as to whether European resolve would hold up through the winter, as well as unconfirmed reports that Berlin and Moscow were even holding secret talks to reopen Nord Stream 1 and begin the transfer of gas through Nord Stream 2.

Now Germany's fate is sealed - as is most of the continent's. There is no longer an off ramp, and Europeans are now prisoners of NATO committed to their own self-destruction.

The US Takes a Victory Lap

Energy companies and traders are making a killing on exporting LNG to Europe with some recording record profits, but the US is now dealing with much higher prices itself. Irina Slav writes at Oilprice.com:

    Meanwhile, however, LNG prices have soared like an eagle, China is re-selling Russian LNG to Europe, and gas prices in the U.S. are three times higher now than they were a decade ago and up 95 percent on the futures market for November 2022 to March 2023.

    Backlash against the LNG exports to Europe have already begun in the US with a group of New England states requesting that Washington help their states rather than Europe.

Due to Germany's demise, the US would seem to salvage some sort of victory from the pipeline attacks even if Russia wins on the battlefield in Ukraine but are still hoping to turn it into a multi-year conflict.

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As there's no more off-ramp incentive for Europe, there's now no reason for Brussels not to "fight to the last Ukrainian." Hawks in Washington are rejoicing.

Related reading ...

Biden's Victory Lap at Jackson Hole

'Sapere aude'

by Oui (Oui) on Sat Oct 1st, 2022 at 06:17:46 PM EST
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