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Russian Invasion of Ukraine

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B6 6HE View Drop Down
Kevin Kilbane
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Post Options Post Options   Thanks (0) Thanks(0)   Quote B6 6HE Quote  Post ReplyReply Direct Link To This Post Posted: 14 hours 34 minutes ago at 12:37pm
Originally posted by colemanY2K colemanY2K wrote:

Originally posted by B6 6HE B6 6HE wrote:

Originally posted by Roberto_Carlow Roberto_Carlow wrote:

Putting capital controls on your currency will make it strong short term, but its not an effective strategy long term for the ruble to remain at its current level.

We are also right at the beginning of sanctions, the longer these go on  a country who imports at the level Russia does will also see significant problems within its economy. Job security fear must be at an all time high.

European economy is surely at risk if there is long term sanctions on their primary energy provider? 

The average European worker is going to pay hard for these sanctions 

The sanctions caused a huge tumble in ruble initially. It is noteworthy how it has rebounded. That coupled with the skyrocketing inflation in Europe. Its not just Russia that will be affected.

1. REPowerEU - just yesterday the european commission laid out plans to reduce consumption of russian gas across the bloc by 66% by the end of this year and break its dependence completely before 2027. how will it do this? by saving energy, finding alternate sources and speeding up the transition to renewables. google REPowerEU for the finer details.

2. 85% of europeans believe that the eu should reduce its dependency on russian gas and oil as soon as possible to support ukraine - the european commission

3. the ruble tumbled for a multitude of reasons linked to the invasion of ukraine. since you haven't answered my question i can tell you the strengthening of the russian currency is in part due to entities paying for russian energy in euros which the russians convert to rubles. as i previously stated this is not necessarily a good thing for russia.

Point 3 is valid.

Point 1 and 2 are much easier said than done.

How much extra are Europeans prepared to pay? Given that the cost of living is quickly becoming a serious crisis. And  energy is an immediate necessity as opposed to something that can be delayed. We all agree that we reduce dependence but we are dependent nonetheless. And the alternatives are not immediate nor are they economically attractive. Is Saudi oil any more noble? 
And many of the 'green' options are nowhere near as green as many think.

To what extent are westerners prepared to reduce energy consumption?



I often wonder, if the average European consumer was given the direcr option of cheaper  Russian fuel or a more expensive option, would they actually choose the alternative as a means to support Ukraine or would they follow the regularly seen sales option which is to choose the cheapest option.

Europe is now paying the price for energy dependence. 



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Roy Keane
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Post Options Post Options   Thanks (0) Thanks(0)   Quote colemanY2K Quote  Post ReplyReply Direct Link To This Post Posted: 12 hours 44 minutes ago at 2:27pm
Originally posted by B6 6HE B6 6HE wrote:

Originally posted by colemanY2K colemanY2K wrote:

Originally posted by B6 6HE B6 6HE wrote:

Originally posted by Roberto_Carlow Roberto_Carlow wrote:

Putting capital controls on your currency will make it strong short term, but its not an effective strategy long term for the ruble to remain at its current level.

We are also right at the beginning of sanctions, the longer these go on  a country who imports at the level Russia does will also see significant problems within its economy. Job security fear must be at an all time high.

European economy is surely at risk if there is long term sanctions on their primary energy provider? 

The average European worker is going to pay hard for these sanctions 

The sanctions caused a huge tumble in ruble initially. It is noteworthy how it has rebounded. That coupled with the skyrocketing inflation in Europe. Its not just Russia that will be affected.

1. REPowerEU - just yesterday the european commission laid out plans to reduce consumption of russian gas across the bloc by 66% by the end of this year and break its dependence completely before 2027. how will it do this? by saving energy, finding alternate sources and speeding up the transition to renewables. google REPowerEU for the finer details.

2. 85% of europeans believe that the eu should reduce its dependency on russian gas and oil as soon as possible to support ukraine - the european commission

3. the ruble tumbled for a multitude of reasons linked to the invasion of ukraine. since you haven't answered my question i can tell you the strengthening of the russian currency is in part due to entities paying for russian energy in euros which the russians convert to rubles. as i previously stated this is not necessarily a good thing for russia.

Point 3 is valid.

Point 1 and 2 are much easier said than done.

How much extra are Europeans prepared to pay? Given that the cost of living is quickly becoming a serious crisis. And  energy is an immediate necessity as opposed to something that can be delayed. We all agree that we reduce dependence but we are dependent nonetheless. And the alternatives are not immediate nor are they economically attractive. Is Saudi oil any more noble? 
And many of the 'green' options are nowhere near as green as many think.

To what extent are westerners prepared to reduce energy consumption?

I often wonder, if the average European consumer was given the direcr option of cheaper  Russian fuel or a more expensive option, would they actually choose the alternative as a means to support Ukraine or would they follow the regularly seen sales option which is to choose the cheapest option.

Europe is now paying the price for energy dependence. 

you're some man/woman for posing questions. "Europeans" are not one homogenous bloc. different eu countries will have different approaches to their energy needs ergo the energy crisis will affect europe in different ways. france for example have capped energy bill rises at 4%, finland which is likely to have its gas cut off today or tomorrow will import what it needs from sweden (around 5% of its total energy needs come from gas) while accelerating the switch to renewables, italy is buying more from algeria instead of russia, poland no longer buys its gas from russia and has restarted a pipeline construction project with norway, ireland will import LNG as and when its needed (a significant % of our gas comes from uk sources), i could go on. 

while some countries and entities continue to buy gas from russia you have to bear in mind this is coming to an end as countries transition to other sources (e.g. algeria) for their fossil fuels while at the same time upping the rollout of renewables. as for the coming winter the european commission has set a target to up the reserves of gas in storage terminals to a minimum of 85% capacity before the cold weather arrives.  

while a significant amount of carbon is used to produce solar panels and wind turbines they are however a much environmentally friendlier alternative to burning fossil fuels. by the way, just to correct you on one of your points, power generated from wind is much cheaper than power derived from fossil fuels or any other source of power for that matter. 
"One of the dominant facts in English life during the past three quarters of a century has been the decay of ability in the ruling class." Orwell, 1942.
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