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Crony Capitalism versus Pure Capitalism

'Sapere aude'

by Oui (Oui) on Wed Jun 8th, 2022 at 03:26:36 PM EST

Loophole could let North Sea oil and gas giants slash UK windfall tax bill

'Sapere aude'

by Oui (Oui) on Wed Jun 8th, 2022 at 03:33:56 PM EST
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'Sapere aude'
by Oui (Oui) on Wed Jun 8th, 2022 at 03:36:37 PM EST
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Bloomberg | Fire at Key US Gas Export Terminal Hurts Fuel-Starved Europe, 8 June
The Freeport LNG export facility will remain closed for at least three weeks after a fire on Wednesday, a company spokesperson said. It issued a force majeure to buyers with shipments scheduled till at least June 30, according to traders with knowledge of the matter. Almost one-fifth of all overseas shipments of gas from the US went via the terminal last month.

The US sent nearly three-quarters of its LNG to Europe in the first four months of the year, with the region now getting almost half of its LNG supplies from across the Atlantic.
[...]
The Freeport plant, which has the capacity to ship about 15 million tons per year, supplies gas to BP Plc and TotalEnergies SE in Europe, as well as Japan's Jera Co. and Osaka Gas Co., and SK E&S Co. in South Korea.

Insider | European natural gas prices soar by almost 40% after fire at key US export terminal, 9 June
UK natural gas futures surged around 33% to 172 pence per therm after the outage, while benchmark Dutch gas prices rose just under 12% to 88 euros per megawatt hour. Meanwhile, US Henry Hub gas futures fell just under 5% to $8.27 per MMBtu, as the outage would lead to a rise in domestic supply.
by Cat on Thu Jun 9th, 2022 at 09:31:50 PM EST
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