Sometimes, to get away from the “Ukraine Winning MASSIVELY!!!” and “EU Is Sanctioning Russia into Ruin!!!” propaganda of our “Western” Lame Stream Media, I’ll take a walk on the wild side with Russian Propaganda (via RT, who only use very subtle kinds of propaganda such as selective omission, mixed with much truth near as I can tell) and Al Jazeera and related.
Sometimes you learn new things. Sometimes you get a different POV. Sometimes you learn a new trick of Narrative Crafting ;-) In any case, it’s new and different compared to tired old CNN or histrionic MSNBC; or plodding Fox punctuated by great Tucker Rants.
So how’s that ban on Fossil Fuels working out in the EU? Have they discovered yet that it isn’t at all possible to run an industrial economy on unreliable non-dispatchable wind and sunshine?
25 Jun, 2022 15:34
EU nation calls for U-turn on fossil fuels – media
Germany wants G7 nations to backtrack on plan to stop financing overseas fossil fuel projects
Germany is seeking to convince other G7 nations to abandon a commitment to end direct international financing of overseas fossil fuel projects by the end of this year, Bloomberg reported on Saturday, citing people familiar with the matter.
Berlin is asking Group of Seven members to “acknowledge that publicly supported investment in the gas sector is necessary as a temporary response to the current energy crisis,” according to a draft text shared with the agency.
Gee… running out of gas causes an industrial country dependent on gas to want more gas. Who knew?
Both Germany and Italy are highly dependent on Russian gas. Deliveries of Russian fuel to Germany through the Nord Stream 1 pipeline were recently reduced by 60% due to technical issues arising from sanctions imposed on Moscow over its military operation in Ukraine. The pipeline will also be shut down for 10 days in July for scheduled annual maintenance.
Yeah, a 60% cut will wake you up. Then 10 days (and counting?) of -100% in July will be fun to watch.
24 Jun, 2022 09:01
Germany warns entire industries could stop due to gas shortage
The stoppage could be for a prolonged period, according Economy Minister Robert Habeck
So how’s that punitive Sanctions deal working for you, Germany (and the EU…)?
Now, try real hard, and imagine what it will be like with ZERO Gas & Oil when you ban Fossil Fuels… OK, now also imagine NO Coal and NO Nuclear. Yup, there you have the Green Dream Utopia! “Good luck with that”…
Germany could be forced to close down entire industrial sectors if there is a nationwide natural gas shortage, Economy Minister Robert Habeck told Der Spiegel on Friday.
“All factory activities will be suspended. It will be a disaster for some industries. And we are not talking about two days or weeks, but about a long time. We are talking about people, who will lose their jobs and regions that will lose entire industrial complexes,” Habeck said.
Maybe it’s time for me to trade in that Mercedes on a Subaru… spare parts may get hard to find…
The EU seems to have discovered how to shoot off their own toes:
Earlier this week, Habeck said the reduction of Russian gas supplies to Germany demonstrates the effectiveness of Western sanctions, and claimed EU restrictions on goods and services provided to Moscow are preventing it from using money generated through energy sales.
Last week, gas flows through the Nord Stream pipeline from Russia to Germany were cut by as much as 60%. Russian energy giant Gazprom said this was due to technical issues arising from Western sanctions.
According to Gazprom, German equipment supplier Siemens Energy failed to return gas pumping units to a compressor station on time.
The repaired turbines for the Russian pipeline are currently stuck at a Canadian maintenance facility, and are not being released due to Ottawa’s sanctions on Russia. Siemens has said Germany and Canada are seeking a solution.
Hey, Canada! “You go Girl!” Nice job sanctioning Russia and cutting off German Gas Supplies! Next week you can try planting grains without fertilizer! /sarc;
But don’t worry, Oils well that ends well:
25 Jun, 2022 09:01
German economy minister reveals extent of gas crisis
The natural gas shortage is hitting Germany harder than the 1973 oil shock, Economy Minister Robert Habeck says
Germany is facing a “more significant” crisis than during the world’s first oil shock in 1973, according to Economy Minister Robert Habeck.
In a worst-case scenario, the coming winter could see factories shut down, workers laid off, and people going into debt to pay their heating bills, the minister told Der Spiegel in a lengthy interview published on Friday.
Habeck warned that price hikes for the German population are “not over yet” and energy costs are only “gradually” being raised for consumers. “More people will be affected,” he said, adding: “we are already in a situation in which Germany has never been” due to the “gas crisis.”
If Russian natural gas supplies remain at the current low level, Germany will face severe shortages, the minister warned, saying there will “definitely be a tough winter” and “certain industrial sectors would have to shut down.”
“That would be catastrophic for some industries… we are not talking about two days or weeks but about a long time,” and some regions might lose “entire industrial complexes,” he warned.
Habeck called on the public to save as much energy as possible, saying he personally barely heats his apartment and takes short showers: “I have never showered for five minutes in my life. I take a quick shower.”
How about when they go to ZERO? Either from EU Stupid Sanctions or from “Paris Agreement” to end your economy? Think about it… This is just a trial run for “net zero”.
Then you print a few $Trillion, shut down US Oil exploration and ban Russian oil driving gas prices to almost a triple, and get massive inflation. The result?
25 Jun, 2022 05:44
US must endure ‘pain’ to fix inflation – IMF
The global lender says the US may have to suffer a recession in order to tame rising prices
The United States may have to endure economic “pain” in order to rein in rampant inflation, the head of the International Monetary Fund (IMF) said on Friday, noting that a downturn might be the “necessary price to pay” for recovery.
Speaking to reporters during a Friday press conference, IMF Managing Director Kristalina Georgieva predicted a rough ride for the US economy, which is experiencing decades-high inflation with soaring prices for a number of staple goods.
How about we just Dump Biden and get Trump back? Sounds a lot less painful to me…
24 Jun, 2022 16:13
US Fed makes confession about skyrocketing inflation
The Federal Reserve has no tools to deal with the problem, Jerome Powell says
US Federal Reserve Chair Jerome Powell on Thursday vowed to do whatever it takes to tackle inflation but admitted he can’t control some cost spikes, including food and prices at the pump.
Powell told the Senate Banking Committee he doesn’t expect gas or grocery prices to fall as a result of the Fed’s campaign of rate hikes.
“There’s really not anything that we can do about oil prices,” Powell said, explaining that “they’re set at the global level.”
Besides, that was your GOAL, wasn’t it? Cutting off US exploration and driving Russia out of the market was to cause just that price spike. Note that there wasn’t a problem under Trump.
Oh, and that several $Trillion printed… I’m sure you think that had nothing to do with it…
So, OK, “sanctions” and bullying and various other forms of coercion of our “friends” and Russia have a lot of folks hurting, though it seems Russia is doing fine. So anyone want to just Bypass SWIFT and the Sanctions on trade? Oh yeah…
25 Jun, 2022 10:39
South American nation wants to join BRICS
President Fernandez says Argentina wants to be a full member of the emerging economies’ alliance
Argentina wants the BRICS emerging economies to admit it as a full member, President Alberto Fernandez said on Friday at the group’s 14th summit.
“Argentina wants to join this space and offer its contributions as a member of it,” Fernandez said via video link.
The BRICS nations, comprising Brazil, Russia, India, China and South Africa, account for over 40 percent of the global population and nearly a quarter of the world’s gross domestic product.
The 14th BRICS summit was hosted by China, which currently holds the rotating presidency.
The Argentinian head of state said the group “constitutes a platform with enormous capacities to discuss and implement an agenda for the future that will lead to a better and fairer time.”
Seems you piss on people enough they don’t want to be your “friends” anymore and find other folks who are treating them better.
Tell folks they can’t play with your ball, and they just get their own:
22 Jun, 2022 13:02
Russian SWIFT replacement ready for BRICS – Putin
Financial institutions in Brazil, India, China and South Africa can be connected to SPFS
Russian President Vladimir Putin said on Wednesday that banks from BRICS nations can freely connect to the System for Transfer of Financial Messages (SPFS), Russia’s alternative to SWIFT.
While addressing a BRICS business forum, Putin said that together with its partners – Brazil, India, China and South Africa – Moscow is developing reliable alternatives for international payments.
“The Russian system for transmitting financial messages is open to connecting banks from the five countries,” he said, adding: “The geography of the use of the Russian payment system Mir is expanding.”
The Russian president also noted that work is underway to create an international reserve currency based on a basket of BRICS currencies.
SPFS has similar functionality to SWIFT and allows the transmission of messages between financial institutions in the same format. It was created by the Bank of Russia as an alternative to the Belgium-based system in 2014, when Moscow was hit with Western sanctions over the conflict in Ukraine.
In April, Russian Central Bank governor Elvira Nabiullina said most Russian lenders and 52 foreign organizations from 12 countries had received access to SPFS, and that the regulator would keep the identity of payment system members secret.
Can you say “Parallel Economy”? I knew you could…
While I’m on the subject: Welcome to the New International Oil based Reserve Currency, the Russian Ruble.
So, OK, a nice list of things to dig into. How much of that is spin? IMHO a lot less than in our LSM / MSM that’s become “All Lies All The Time”. RT leaves out things detrimental to Russia, and emphasizes the screw-ups of the West (but in a deliciously mild taunting way ;-) but rarely have they gone all Bat Shit Crazy Talk like our media. Sad to say. I also love how they cite Western sources for their stories ;-)