Comments by "Paul Aiello" (@paul1979uk2000) on "Putin Turns Off Europe's Gas: Will the EU Run Out?" video.

  1. Ask yourself what would the US have done if it had little to no natural resources and had a cheap source on it's border even thought it's not the most reliable source, they very likely would have done the same thing. I do agree on the reserve things, they could have done better on that and I think it's high time that they push hard on renewable energy with energy becoming a security risk, it makes a lot more sense to generate it in-house, all it needs is the political will to push that agenda hard. But let's be blunt about this, energy has been an issue for decades for many countries, hence the US when it invades Iraq and other countries mostly with the aim of opening up that resources or securing it for its self. On the plus side, the big silver lining in all this, the longer energy prices stay high and the more insecure energy becomes, the quicker the fossil industry will kill it's self off, people will only put up with high prices for a short time, 2 to 3 years at the most before real pressure builds on governments to give them the political will to do real change, that could wipe out a decade or more of the fossil industry around the world which would be trillions wiped out for those fossil countries. So in a sense, I don't like the situation the way it is now but in another, I do, the higher and longer the prices stay high, the bigger the change is going to be against fossil energy and yes I know it's painful for the world as this hits most of us even outside of Europe, I think a bit of short term pay for the long term pay off will be worth it, the pain for countries like Russia will be far worse longer term.
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  2. A reduction from 40% to 20% isn't too bad overall, I suspect because of the high political pressure, they'll probably get that down to 10-5% by the end of the year or early next year.
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  3. International gas prices are likely going to go up regardless of if the Europeans reduce their consumption, that isn't really the solution to that problem, securing alternative sources of energy is. As for the Europeans, I'm not worried about them not being able to afford it, they are a rich economy, the problem is that it's going to push up the price across the world for almost everyone else and it's the poor countries that are paying the price. The international price of oil and gas isn't likely going to cone down a lot until the Europeans secure its energy needs away from Russia which really, western countries should speed up the process in helping to do that because we're all paying the price until things settle down.
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