Soaring energy bills have been a headache for many in Europe in the year 2022, from businesses to households, from workers to pensioners. While numerous Europeans are shivering because of an energy crisis, who is being enriched?
The European Union lacks empathy. It is troubling the troubled. The European energy companies, which are facing a historic crisis amid the Ukraine war, are being harassed by the bloc.
The companies have now dragged the EU to court over policies that will harm their businesses. Watch the video to learn more.
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The European Union’s energy ministers met for the fifth time in a hurry, but they couldn’t agree on a EU price cap for Russian gas, so the meeting ended in a stalemate.
The bloc wants to punish Moscow by paying less for its gas, while protecting consumers from prices that have soared since the Ukraine war began.
The split is between those wanting tough measures and those fearing that too low a cap might affect supplies.
That could happen if producers sell to other markets instead of the EU as higher rates are on offer elsewhere.
The ministers are hoping to reach a compromise at another round of talks next week.
But can the deep divisions within the EU be overcome?
#EuropeEnergyCrisis #EnergyCrisis #EnergyRevenue #RussianGas #EnergyPrices #EnergyPriceCap #energybills #InsideStory
Europe’s First Big Move to Punish USA Causes Uproar Among American Energy Giants | EU Exxon Mobil
This year, American oil and gas firms were the winners in Russia’s battle in Ukraine. These titans amassed billions of dollars as a result of price increases and disruptions in the world’s supply chains. It was clear that governments wouldn’t permit this party to continue for very long if they didn’t receive a piece for themselves. The European Union started taxing energy corporations on their earnings with this goal in mind. And now, one such US-based corporation is suing the bloc over these new levies, bringing the bloc into their crosshairs. Washington’s involvement has only increased the likelihood of the much-discussed trade war between the US and the EU.
Russia threatens to cut oil output, panicking oil markets . Russia has been preparing G7 and EU countermeasures.
G7 nations and the EU have imposed a ceiling on oil prices to reduce Russia’s oil sales income. Russia has threatened the West with retaliation for weeks over this market intervention. The oil market is nervous. See video.
“As a result of the threatened reductions and rising expectations of a decline in crude supply, oil prices increased globally by more than $1. By 7:15 GMT, Brent crude had increased by 73 cents, or 0.9 percent, to $81.71 per barrel, while US West Texas Intermediate (WTI) crude had increased by 91 cents, or 1.2 percent, to $78.40 per barrel.” (Russia Threatens to Slash Oil Supplies in 2023, Spooks Markets, 202223)
““As energy traders pay attention to Moscow’s response to the price cap placed on Russian oil, crude prices have increased, according to Edward Moya, a senior market analyst at OANDA, a foreign exchange company with offices in New York, according to the Reuters news agency.” (Russia Threatens to Slash Oil Supplies in 2023, Spooks Markets, 202223)
“However, Friday’s announcement marks the first time the Kremlin has specified how much it is prepared to reduce output in response and how it will respond to any request to modify existing oil supply contracts. Russia has repeatedly threatened to reduce oil production and forbid sales to countries participating in such a price cap.” (Russia Threatens to Block Oil Sales to Countries Participating in Price Cap, 2022)
“Due to the lack of current EU sanctions, this could have an impact on Russian oil pipeline deliveries to Poland, Germany, Hungary, Slovakia, and the Czech Republic..” (Russia Threatens to Block Oil Sales to Countries Participating in Price Cap, 2022)
see also : Russia’s first response to oil price cap
ussia threatens to slash oil supplies in 2023, spooks markets. (202223, December 23). Russia Threatens to Slash Oil Supplies in 2023, Spooks Markets | Russia-Ukraine War News | Al Jazeera. Retrieved December 27, 2022, from https://www.aljazeera.com/news/2022/12/23/russia-threatens-to-slash-oil-output-in-response-to-price-caps
Russia threatens to block oil sales to countries participating in price cap. (2022, December 23). POLITICO. Retrieved December 27, 2022, from https://www.politico.eu/article/russia-threaten-block-oil-sales-europe-g7-price-cap-embargo-war-ukraine/
#russia #oil #usa #europe #china #ukraine #war #india #usa #opec #pricecap #g7 #putin #joebiden | n18oc_world
Europe will have a hard time getting enough energy this winter because it can’t get much gas from Russia. Next year could be even worse. Europe’s energy crisis could finally force countries to dramatically pivot toward renewable energy.
#energycrisis #europe #ukraine
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Ahead of winter, Europe is dealing with a deepening energy crisis.
Gas prices have risen to all-time highs, and supplies are becoming scarce throughout the bloc.
The EU finance ministers need coordinated measures to safeguard supplies as power prices are already rising.
Then why is there a power shortage?
What impact will it have on the EU’s ambitions to reduce carbon emissions and rely more on renewable energy sources?
#EnergyCrisis #EuropeEnergyCrisis #InsideStory
Because of Russia’s involvement in the war in Ukraine, Europe felt compelled to prohibit Russian energy supply. The EU increased pressure this week and set a gas price restriction. This price restriction would prevent Russia from taking advantage of Europe’s reliance on Russian energy. Was able to avert a energy crisis?
It was a contentious decision that could impair supply security and disrupt the market. The EU countries are making difficult decisions in the meantime to try and reduce the expenses, which are increasing inflation and raising prices for consumers and companies. A new facility for liquefied natural gas is opening in Germany. an important source of this gas? Germany has accused Qatar for violating its citizens’ human rights.
#Europe #Russia #Energy
No country on the continent has had it easy during Europe’s energy crisis.
Europe as a whole has not been able to escape the grip of the energy crisis. Europe no longer has access to Russian gas. EU sanctions prevent the import of Russian oil. Naturally, the European Union has had to hunt for alternative suppliers, including the United States, Qatar, Azerbaijan, and others. But there’s a problem. Europe has used every resource in its arsenal to be tough with nations from which it imports energy.