As severe as the lack of energy in Europe has become as a result of the sanctions that the EU has put on Russia as a response to its invasion of Ukraine, the situation is likely to hit a state of crisis.
This last week, Russian authorities shut down completely the Nord Stream pipeline for an indefinite period of time, allegedly for “leaks” in the system. However, many people believe that this is just the latest measure taken by President Vladimir Putin to condemn his European neighbours for their sanctions.
The interruption might be for just a few days, a few weekends, or even months; nevertheless, at this point, any disruption to Europe’s natural fuel supplies is a certain outcome due to the quick approach of winter.
A snapshot of the claimed oil spill that was shared online appears to be quite insignificant, lending credence to allegations that Putin is the mastermind of this most recent manoeuvre.
This move is a “shocking development” and a devastating blow to the Europeans who have spent the past 10-15 years transitioning away from dependable fossil fuels in favour of unreliable and significantly more expensive “green energy,” such as wind, solar, and hydrogen. The move is a “shocking development” or a huge blow to the European continent.
The suspension of the pipeline comes at a time when European nations were rushing to fill up natural gas storage facilities in preparation for winter, and they were also trying to predict what Vladimir Putin might or may not do in the following weeks as the so-called “energy war” proceeds.
This implies that Europe will be compelled to depend even more heavily on… well… Russian gas, which will come in the form of LNG that is resold by China at far higher prices. And after falling by more than half in the previous few days, we have every reason to believe that European fuel prices are set to launch into a hyperbolic trajectory and surpass all-time record levels as soon as trade resumes on Tuesday.
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