The threat of energy rationing across Europe continues even after EU officials kept an emergency meeting last week in order to starve off the impending winter season energy crisis.
EU nations have increasingly relied on US energy imports, though shale bosses warned the ability to boost oil and gas supplies would be challenging.
“ It’s not like the ALL OF US can pump a bunch more. Our production is what it is, ” Wil VanLoh, head of private equity group Quantum Energy Partners, one of the shale’s most prominent investors, told Financial Times .
“ There’s no bailout coming, ” VanLoh additional.
“ Not on the oil aspect, not on the gas side.
European countries can thank the Democrats and the Biden administration for war against crushing the US energy industry that resulted in massive divestments across the sector, which crippled oil creation growth and improving capacity , and pressured/shamed the world into withdrawing any kind of capital allocations to fossil fuels.
Ben Dell, chief executive of private equity group Kimmeridge Energy, said the particular shale industry’s investors upon Wall Street would not give their blessing to a large production increase, preferring a low-production, high-profit model.
“ Traders generally don’t want shale companies to pursue a rise model, ” this individual said.
“ The capital availability is extremely limited. ”
Rig counts in the US possess started to fall and production has flatlined well beneath pre-pandemic levels…
On top of the Democrat-led debilitating of the US energy sector, EU leaders have been on an ESG-crazed mission to decarbonize their power grids with renewable (now finding out — not so reliable) energy and therefore are frantically bringing back commodity future trading, coal, and natural gas strength generators ahead of the cold season. Some EU countries are even extending the life of nuclear power plants.
The problems may end there — within 80 days, or upon Dec. 5, the EUROPEAN will embark on another suicide mission of banning seaborne imports of Russian crude. Then on Feb. 5, 2023, a ban on Russian petroleum product imports leg techinques in. These sanctions were enacted over the summer. Nevertheless , piped imports of Ruskies crude and petroleum items will be exempt in some EUROPEAN UNION member countries, like Hungary, Slovakia, and the Czech Republic.
Returning to the US shale patch exactly where Scott Sheffield, CEO associated with Pioneer Natural Resources, explained significant production increases do not get coming online:
“ Wish not adding [drilling] rigs and I shouldn’t see anyone else adding rigs, ” said Sheffield, whom runs one of the biggest oil makers in the US. He added that crude prices can rise above $120 a barrel this winter as supplies tighten.
Shale’s lack of ability to rapidly increase crude production is no surprise, regarding Halliburton Co. is CEO Jeff Miller and Exxon Mobile’s Darren Woods’s warnings over the summer that markets will remain restricted for years due to a lack of production growth.
A perfect storm of factors plagues Europe: the inability of US shale to ramp up manufacturing (because of Democrat’s war on oil), Russia decreasing energy exports, grid decarbonization, and EU’s Russian oil embargos.
… and why could crude prices have bottomed earlier this week? Well, maybe Bloomberg’s report that Biden administration officials plan to refill the SPR when crude falls around $80 a barrel . Furthermore, SPR draws end in October , meaning less crude on the market and perhaps higher prices. Even as requirement in China slumps, towns are reopening from Covid lockdowns, a sign demand could soon rise in Asia.
Alex Jones plus Andrew Tate, two of the most censored guys on the planet , discuss the way they worked around de-platforming and what is coming next in The Great Reset matrix tyranny.