Drudge Retort: The Other Side of the News
Wednesday, September 11, 2019

Twice in the past 14 years, a dispute between Ukraine and Russia has led Russia to cut off natural gas flows to Ukraine and Europe. The stage is being set for another cut-off in January.

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Given the history, it amazes me that countries still make themselves dependent upon Pres Putin for such essential commodities.

#1 | Posted by LampLighter at 2019-09-11 02:43 PM | Reply

Russia's economy has been reeling since the drop in prices of natural gas and petroleum the last few years. It's unlikely they'll turn off the valves to their customers. And if they do, there is always the US who now is psroducing the most fossil fuels of any other country and of course the ME.

If Russia turns off the valves, Iran is more than willing to step in, regardless what they Bear Buddies tell them.

The oil play is no longer a play every since the US started shale oil production and fracking. Oil producers no longer have us or our allies by the balls.

Do your worst, Russia. Cut off your nose to spite your face.

#2 | Posted by goatman at 2019-09-11 04:11 PM | Reply

Oh, yes. Did I mentino north sea crude which whose reserves are barely tapped?

#3 | Posted by goatman at 2019-09-11 04:12 PM | Reply

@#2 ... the drop in prices of natural gas and petroleum the last few years. ...

A few years ago I read that Russia needed oil to say at or over $100/bbl in order for their economy to work.


... If Russia turns off the valves ...

This is more about natural gas than oil.

Natural gas pipelines do not get built overnight.

When Russia turned off the gas in 2009, Ukraine froze.

Hopefully in the intervening 9 years, mitigating steps have been taken by Ukraine and Europe.

With the new pipeline constructions, I can't shake the sense that Ukraine and Europe are now even more dependent upon Russia, though.

#4 | Posted by LampLighter at 2019-09-11 04:29 PM | Reply

#1 | Posted by LampLighter

I agree. Where did the gas come from before the Russian Gas? Natural Gas consumption has also been growing in general as it replaces things like coal.

Ukraine at least according to the article is working to drastically cut its gas consumption and none of the gas comes directly from Russia anymore (still Russian gas - just imported from Eastern European countries). Less than 1/3 of their consumption is now imported.

The fact they are so dependent on Russia's gas makes much of Europe less likely to take too strong of a stance on Russia too. Turkey working on becoming a Russia Satellite doesn't help matters.

#5 | Posted by GalaxiePete at 2019-09-12 09:41 AM | Reply

#2 | Posted by goatman

It's not the oil - it's Natural Gas that is the problem. LNG moved via ships requires huge investments and isn't ideal when compared to pipelines either. I know work was under way in Europe to import more Gas via LNG shipments but I don't know how it has progressed since the Russia/Ukraine pipeline hasn't really been an issue for years now. The last I knew is that it required huge investments to start to meet the needs of Europe and over a decade to build the infrastructure required for LNG.

#6 | Posted by GalaxiePete at 2019-09-12 09:46 AM | Reply

#2 | Posted by goatman

BTW - We still import a significant chunk of our consumption:

In 2018, U.S. total petroleum production averaged about 17.71 million barrels per day (mmb/d), which included

crude oil"10.99 mmb/d
natural gas liquids"4.35 mmb/d
biofuels and oxygenates"1.23 mmb/d
refinery processing gain"1.14 mmb/d

Total petroleum consumption averaged about 20.45 million b/d in 2018.

In other words 15% is imported - better than it used to be for sure but still significant. And Our consumption continues to grow today. And now imagine is Trump wasn't reducing the requirements on gas mileage improvements where we might be headed.

Not that I don't think most of the Automotive industry isn't working toward those goals - and electric vehicles... I mean they would be stupid to have quit trying to achieve them because when Democrats regain control they will be back and possibly even more strict. I love my high horsepower vehicles but we don't need them and speaking frankly the only way we are likely going to get there with gas vehicles is with significant reductions in power.

#7 | Posted by GalaxiePete at 2019-09-12 09:56 AM | Reply

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