Europe's economy is about to be sacrificed on NATO's throne
Rainer Dulger, head of the Confederation of German Employers’ Associations, gave a dire warning a few days ago.
“We are facing the biggest crisis the country has ever had. We have to be honest and say: First of all, we will lose the prosperity that we have had for years,” Dulger told the Süddeutsche Zeitung regarding the consequences of a gas shortage to everyone.
Dulger was not alone. Yasmin Fahimi, the country's top union official, was even more explicate.
"Entire industries are in danger of collapsing permanently because of the gas bottlenecks: aluminum, glass, the chemical industry," Fahimi, the head of the German Federation of Trade Unions, told Bild am Sonntag. "Such a collapse would have massive consequences for the entire economy and jobs in Germany."
The German government had a similar take. Robert Habeck, Germany’s minister for economic affairs and climate action, echoed business and labor with a scary comparison.
“Even if we don’t feel it yet, we are in the midst of a gas crisis. From now on, gas is a scarce asset,” Habeck said in a statement accompanying the ministry’s announcement.
Habeck added that if supply continues to fall, and prices continue to rise, it could create ripples that would do irreparable and wide-reaching damage to the energy market, in what he likened to a “Lehman Brothers effect,” referring to when the Lehman Brothers investment bank declared bankruptcy in 2008, sending economic shock waves through the global financial system.
“The whole market is in danger of collapsing at some point,” Habeck said.
Germany is the 4th largest economy in the world, so this is a big deal.
The reason for the alarm bells is because Russia has shut down the Nord Stream 1 pipeline for maintenance and people are scared that Russia won't start it up again. Germany has already started to tap its winter reserves...in July.
The western media has wasted no time to accuse Russia of doing what it did for years.
This Guardian article was written seemingly without any self-awareness or sense of irony.
‘Gas blackmail’: how Putin’s weaponised energy supplies are hurting Europe
One question is dominating the energy industry: will Vladimir Putin turn the tap back on? This week the Kremlin-controlled energy firm Gazprom shut off gas supplies through the Nord Stream 1 pipeline for maintenance until 21 July, having already cut its output to less than 40% of capacity. Now there are growing concerns that the Russian president may simply refuse to reactivate it...
Andriy Yermak, chief of staff to Ukraine’s President Volodymyr Zelenskiy, has accused Russia of conducting “gas blackmail”. By contrast, nations with closer links to Russia, including Belarus and Turkey, have seen little disruption.
It's almost as if The Guardian is counting on no one noticing that there is a "1" behind the words "Nord Stream" and not a number "2".
Let's roll back the clock to 2019 and see what the news stories looked like back then.
The annually-set NDAA is also significant for Europe’s energy scene, however, as the 2020 bill also contains provisions to impose sanctions on companies installing deep sea pipelines for Russia’s $10.5 billion Nord Stream 2 (NS2) gas pipeline linking Russia and Germany (via the Baltic Sea).
...The NS2 pipeline is particularly controversial for the U.S. which see it as a way for Russia to increase its energy dominance in Europe, a region the U.S. wants to increase its own liquefied natural gas (LNG) exports to.
...Ukraine is most unhappy with the Nord Stream 2 pipeline as it is currently the main conduit for Russian gas to central Europe and earns roughly around $3 billion a year in gas transit fees.
This isn't Russia Today. This is CNBC openly admitting it.
Then at the end of March there's this: Nord Stream 2 cost $11 billion to build. Now, the Russia-Europe gas pipeline is unused and abandoned
Then last month we see this: Germany looking at repurposing unused Nord Stream 2 pipeline for LNG use, report says
Wow! Using the pipeline for natural gas. I wonder if Russia had thought of that?
Wait a sec. Is using a natural gas pipeline to ship natural gas weaponizing energy? Or is not shipping natural gas through a natural gas pipeline weaponizing energy?
I'm confused now.
Just a couple days ago, this happened.
Russia’s shunned Nord Stream 2 gas pipeline won a legal boost in its pre-war challenge against European Union rules that subjected all new and existing pipelines involving foreign suppliers to the EU’s energy market-opening requirements, after the bloc’s top court said its appeal can be heard.
While the ruling is a win for Nord Stream 2, its impact may have been overtaken by events in Ukraine, which led Germany to withdraw its backing for the project.
So the U.S. and EU were using possibly illegal methods to block Russia from using the Nord Stream 2 gas pipeline after all.