This better stay in place once the war is over, no matter how it ends
Yes, and it can still be vetoed by our union friends from Slovakia or Hungary. Hell, even my own government in the Netherlands may try to sabotage this, since we’ve got the most worthless bunch of idiots ever in charge.
USA here. I’ll trade you any time you want.
I’m sure you will, and I wish you all the best. At least our bunch is more of “talk much do little” variety. It helps that it’s a four party coalition, who can’t even agree on the day of the week.
I heard it’s Logsday
Always is
Hey, if it helps seal a trade, my guy is the same color of your national team jerseys.
“New EU legislative proposals need approval from the European Parliament and a reinforced majority of EU countries.”
That is different than sanctions which need to be unanimous (bit of an odd discrepancy)
Lukoil is still thriving in the USA. About .10 - .15 cheaper. Always a line.
Lukoil in the USA is American owned (as a franchise) and operated and does not use Russian oil. We don’t import any Russian oil to the US. Some money does go overseas but Lukoil is (nominally) a private company so seems to have avoided sanctions. Overall I’d say there are bigger fish to fry.
About fucking time
About damned time. They need to do that here (Japan) as well.
Maybe now the germans could impose emission quotas to their industry
(They won’t. They will just burn more coals)
It is part of a strategy to unload their dollar holdings. Basically buy natural gas from the US.
The value of a dollar is about to be beaten into the ground
It is part of a strategy to unload their dollar holdings.
Ya gotta have the currency in order to spend it. If a Nation runs out of USD while they still need NG (or anything else traded in USD) then they’re going to have a bad time.
The value of a dollar is about to be beaten into the ground.
Possibly but the U.S. Federal Reserve has the ability to blackhole a LOT of dollars and if the inflows exceed their ability then the price of NG will climb until it balances.
If you doubt me then line up this chart of US NG Exports with this chart of USD DXY. The effect predicted by the strategy isn’t visible.
Frankly I’m not sure there’s enough NG demand in the world to tank the USD via purchases.
The goal is not to tank the dollar but unload it in a way that is most politically and economically beneficial to the EU.
That’s a pretty fancy way of saying “We are going to use our money to buy things we need.” I mean that’s sorta to be expected.
It’s also not a comment on “value of the dollar is about to beaten into the ground”. There doesn’t seem to be a basis to support the theory that purchasing too much NG will cause the US Dollar to decline in value.
The USD will likely decrease in value but it will happen because of Republican stupidity, not due to mass purchases of goods from US companies.
Completely agree that the purchasing alone would not drive the value of the dollar down but the change in policy reflects a global loss of trust in the dollar.
Being a reserve currency, means most of its value is in the global trust in it being a “stable” store of value.
Trust is quick to destroy and very slow to build. No country unloading their position wants the value to crash but they all are actively starting to unwind their dollar positions.
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Economies change slowly. To eliminate the demand for Russian Natural gas on that time scale means that they are going to have to import it from somewhere else.
Economically speaking the only move that justifies that price premium is if one wanted to unload their Dollar position and the time frame needed to do so would align with their fossil fuel reduction timetables.
It is not about them moving to a new reserve currency but unwinding the current position in a way that aligns economically and politically for their own countries.
There is a theory that the USD as global currency is at risk of being replaced due to BRICS. Often the RMB is posited as the successor to the dollar, but I don’t think it is possible to use a currency that is not openly traded, nor for which we have insight into how its value is set (not derived by the market, but set by the country itself) as a vehicle for secure, stable exchange of value.
Of course, the current administration is doing a good job of running the USD down, but even with that I don’t see how any other currency can replace it for the foreseeable future…
Full disclosure, I am not an economist
I wish lemmy was less like reddit, and that commenters actually skimmed the articles or knew anything about the situation beyond the headlines.
But hell, here goes, I’ll try to use small words and explain things for you guys:
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If they instantly turned it off without a replacement, a lot of people would have died. And even if a country government tried, their own citizens would riot over the idea that old people would die.
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Coal is already banned.
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Oil imports have dropped from 27% to 3%
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In 2021 the gas accounted for 45% of imports in the EU, now it’s 19% and the plan is to have it at zero by 2027.
So it’s been 3 years and their plan is another 2.75 years away.
A lot of people did die, they were just Ukrainian instead of western European
Ukrainian do not vote for European governments though
There’s been a big influx of users from Reddit and with it came the low effort one liner zingers and people allergic to reading the linked articles.
I do really like how a lot of people here post articles give a summary below their link. While it’s definitely not required, it is super helpful and makes it harder for people to just form opinions and start blabbing in the comments based on a headline.
Things get a little shittier for awhile every time there’s a mass migration, but it seems like most communities do a decent job holding newbies to a higher standard than reddit (read: any standard). Eventually Lemmy gets better again.
I suspect it may inevitably end up like Reddit. The problem IMO is comment visibility. Even if you’re not trying to farm karma, people like their comments to be visible. Everyone wants to have their voice heard. And it seems that short “zinger” comments and jokes are the most effective way to make that happen. The current community does support high effort quality comments well, but I think as we get diluted with more users it’s a slippery slide. I hope I’m wrong.
I think the rest of us need to apply pressure against that trend. I try to call out assholes in a civil fashion, at least so it makes it harder to be one, and I don’t upvote comments that don’t add to the conversation. I can’t downvote them since I’m on blahaj, so downvote them extra hard for me!
This only works if the influx of new users stay relatively low. See the Digg Exodus of how reddit got fucked up because Digg expelled their users too fast.
I’m definitely guilty of not opening the article pretty often, and I really love when posters put a summary/highlights/entire article when it’s small in the body of the post. I actually do read/skim these pretty consistently vs opening and reading every single article in the feed.
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This should have been done on day one.
This is so funny cuz it actually has the potential to bankrupt Russia, all because they chose to invade a nation that represents at best marginal economic power.
Russia chose to invade a nation that had recently discovered large reserves of natural gas - more than enough to supply Europe’s needs while they transitioned to alternatives - and that sat astride the pipeline that Russia uses to provide their gas to Europe. Even though Russia has not proved capable of conquering all of Ukraine, their occupation of the Donbas region has prevented Ukraine from becoming a viable natural gas competitor in the European market and kept their primary source of revenue alive, at least in the short term.
If we actually manage to pull it off it’s a pretty decent disincentive. Invade neighbor for resources? No one will buy those resources from you.
Obviously not sufficient on its own, but seems like a good place to start.
Good for the EU. People often need a common threat to come together
now its multiple threats , russia and the USA.
I’m sorry for what my country is doing…
At the moment, that is only one threat.
Canada here: you can have ours!
It’s a nice idea but the difficulty is in getting it there.
LNG tankers!
Natural gas blimps! It’s already lighter than air after all…
Sometimes, my genius is almost terrifying
In another couple of years. If Hungary and Slovakia are willing to play along (they aren’t).
“New EU legislative proposals need approval from the European Parliament and a reinforced majority of EU countries.”
That is different than sanctions which need to be unanimous (bit of an odd discrepancy)Balk all they want, the resolution will still be binding to them. If they don’t like it they can leave the EU and take Hungary with them.
After 3 full years… only now doing it…
Nonono, they plan to do it. Might take anorher 3 years for execution.
Prepare for the plan!
Yes, ma’am, preparing for the plan!
