FWIW, article on how come Europe became so dependent on Russian natural gas. Basically, natural gas fields are running out and Russian gas was cheapest.
The US has plenty of natural gas. I'm sure we are in talks on how to get more natural gas to Western Europe. Price might go up on us though, that'll hurt many in the US but in the big picture, think we need to share in some of the pain.
https://www.cnbc.com/2022/02/24/why-...tural-gas.html
Quote:
|
On Wednesday, The Washington Post reported the European Union is making plans for energy independence from Russia, citing sources who spoke on condition of anonymity. The plan is expected to be announced by the European Commission next week.
|
Quote:
So how did the region become so dependent on Putin’s Russia for its energy supplies?
:
Production of natural gas in Europe decreased because the North Sea gas fields, which are particularly important sources of natural gas production from the U.K. and the Netherlands, were depleted. And later the Netherlands announced they were completely shutting down their Groningen gas fields because of earthquakes.
|
Quote:
About 25% of the EU’s energy consumption comes from natural gas, according to the Directorate-General for Energy for the EU. Oil and petroleum (32%), renewable energy and biofuels (18%), and solid fossil fuels (11%) make up the rest.
That dependence on natural gas means a dependence on Russia. Today, the EU is the largest importer of natural gas in the world, according to the Directorate-General for Energy for the EU, with the largest share of its gas coming from Russia (41%), Norway (24%) and Algeria (11%).
“In terms of foreign suppliers, Russian gas was just the cheapest.
|