Thousands took to the streets to protest soaring energy prices and their government’s blind allegiance to the EU and NATO in Prague…
And they were condemned and called “extremists” by the politicians in power who would rather leave their people to starve than question the West.
This all comes as the media praises China for reselling natural gas to Europe, while quietly skipping over the fact that China is importing a record amount of LNG from Russia…
So, Europe is still getting Russian gas—just at premium it cannot afford.
Winter is coming… and while Europe struggles to figure out how they’re going to survive amid soaring energy costs, the Group of 7 has decided that they’re going to make one last-ditch effort at targeting Russia economically—by putting a price cap on oil imports.
The idea, according to these politicians, is that they will make sure Russia doesn’t make too much of a profit, while at the same time trying to guarantee that they don’t have to pay too much of a price.
The only problem? There’s no way to force Russia or any of the other countries they’re working with to submit to the price caps.
That’s why the EU is now scrambling to try to get China and India on board with the plan. Because they know that otherwise, Russia will continue to refuse to sell oil to countries that are enforcing the new price cap… and it will instead opt to work with others, who see their oil supply as something they can benefit from and not something they need to control.
And that’s exactly what has happened, as we’ve watched Russia ramp up its crude oil exports to China and Russia this year.
The same goes for natural gas supplies. In fact, China’s imports of Russian LNG have soared this year. And even though China is known for importing more than half of the natural gas it consumes, analysts have argued that its demand actually isn’t up to par with the level of gas it’s importing.
So, what is China doing with the excess supplies? Well, according to reports, it’s reselling it on the spot market at a premium—and guess where that’s going?
The answer appears to be… Europe. Yes, that’s right. Reports are now saying China is providing Europe with an “energy lifeline.” And to be clear, they don’t admit that it was once Russian natural gas. Instead, it automatically becomes “Chinese natural gas” as soon as it’s imported and then exported again.
But one of the biggest differences there is, of course, the price. Instead of securing long-term natural gas contracts from Russia directly through mechanisms like the brand new Nord Stream 2 Pipeline, Europe is virtue signalling its way on the global scale in order to make the US happy—but then they’re ending up getting more or less the same product. It’s just that now they’re paying an insane premium for it, as both Russia and China benefit. So, again, Europe continues to only hurt itself, while trying to control Russia.
And that new plan for an oil price cap doesn’t stand to be any more successful, unless of course, that success is defined by Russia, China and India strengthening their ties with one another—and that’s something everyone should be talking about.