Monday, October 31, 2022

Who is gaining?

"Europe is a garden and most of the rest of the world is a jungle that could invade this garden. Thus spake Josep Borell, foreign policy chief of the EU some days ago, addressing a gathering of young European diplomats," wrote Sandipan Deb. Starting in 5000 BC, there has not been one day that people were not slaughtering each other in this garden of Europe. wikipedia. Borell claims that the EU is not "blindly following" orders from the US but, "EU countries are buying gas at sky-high rates from the US and China, which is reselling Russian gas to them at a nice profit." On 26 September 2022, Nord Stream 1&2 pipelines, supplying Russian gas directly to Germany, were attacked in a series of explosions resulting in severe leakage. wikipedia. Who benefits? "One, Russia loses quite a bit of the leverage it still had over Europe, which has been scrambling to find other gas supplies to tide over the winter. Two, the EU gets locked into the sanctions regime, since lifting embargoes will still keep it cut off from Russian gas transported directly and at a much lower cost. Both Russia and Europe are losers here." Deb. "Even if the Ukraine war ends tomorrow and Russia's connections to the global energy market are 'normalized', the energy dependence of Europe on Russian natural gas will never be the same again." Mint. "With oil it's a similar story. When Russia was shut out of oil markets after the invasion, it began offering oil at a discount and found many buyers - among them India." "According to a report in Reuters," in September, "India's imports from the Middle East fell to about 2.2 million bpd (barrels per day), down 16.2% from August" while "imports from Russia increased 4.6% to about 896,000 bpd after dipping in the previous two months." TOI. "Fueled by a surge in import of oil and fertilisers, India's bilateral trade with Russia has soared to an all-time high of $18,229.03 million in just five months (April-August) of this financial year (2022-23)," with fertiliser imports surging by 666.24% to $1,236.96 million. TIE. Despite that, "India's crude oil import bill surged 76% to $90.3 billion in the first half of 2022-23 (April-September) even as the total import quantity increased by 15% to 116.6 million tonnes." HT. While selling to Europe at exorbitant prices, the Biden administration "thought they had struck a secret deal (with Saudi Arabia) to boost oil production through the end of the year" "as the Democratic Party struggles to deal with inflation and high gas prices heading into the November elections." ET. Apparently, "The Biden administration asked Saudi Arabia, the de-facto leader of oil-producer group OPEC, to delay its decision on oil output by a month, the kingdom said in a statement." CNBC. Mid-term elections in the US are on 8 November. wikipedia. So, the Biden administration was just trying to deceive the world and American citizens to win the elections while making handsome profits from selling oil and gas. To win elections. Duplicitous and dishonorable. How pathetic. 

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