Comments by "Paul Aiello" (@paul1979uk2000) on "Putin Cuts off Europe's Gas: The Closure of Nordstream 1 - TLDR News" video.

That's why what Putin is doing is a good thing, yes it hurts in the short term but longer term, EU countries will benefit a lot by this. As for the EU, the EU isn't the problem, they want to ban oil and gas, but they know it's politically impossible to do because of some EU members, basically, the EU can only do so much, you need broad support from the members. Also, let's be blunt about this, the EU doesn't have the powers in those areas, it's really up to the members, so the blame is firmly on some of it's members not the EU.
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Not just for the EU but for the world, I suspect OPEC are happy with the profits for now but longer term, this could be a disaster for them, especially if energy prices stay high because that gives governments around the world the political will to do some massive changes into alternative energy sources and they'll do these changes because governments must know how bad it is for them when it comes to elections, so yeah, expect massive investments and deployment of renewable energy sources over the next decade, OPEC and the other fossil industry counties can thank Putin for helping to kill that industry sooner than it would be.
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@vsiegel True but it's these kinds of events that can do seismic changes in the market and yes it's painful short term but it's likely going to be a lot more painful for the fossil industry if they are not careful, especially in democratic countries because people will only put up with so much before a lot of pressure builds on governments to do something, that brings in a lot of political will to do changes that normally would take decades that could happen in a few short years. Putin thinks he's being smart but he's actually shooting himself in the foot longer term whiles at the same time harming the entire fossil industry and they might like the high profits now but if real change happens, it could wipe out decades of revenue from those countries that produce fossil fuels and we are talking in the trillions. Because of that, I'm in two ways on the price point, on the one hand, I want them to drop but on the other hand, I want them to stay high because I know the higher it goes and longer it last, the bigger the revolution in change will be and will happen sooner rather than later. History could look at this point as the moment we really started to clean up our act with clean energy and all it took was a mad man in Putin to get things moving, no one will thank Putin for it as he's still a dictator that's doing war crimes.
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Not just the EU but the world overall, short term this hurts but thanks to this, there's going to be a lot more political will to do big changes with alternative energy, very likely renewable energy and the longer energy prices stay high, the bigger the change, the irony is, the fossil industry is killing it's self here and I wonder if they are aware of it because people will only put up with high prices for a short time, 2 to 3 years before real pressure really builds on governments to do big changes, something that might have already started, especially in EU countries. So on the one hand, I want energy prices to come down but on the other, I want them to stay high so we get real change to clean energy sources.
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Probably won't hurt the EU at all, they don't really have the power in these areas, the members are the issues that some want to ban, some don't, I suspect if the EU had its way, they would want to ban oil and gas but politically speaking, that's not possible because of a few members. Longer term, this could really benefit the EU, it's showing why we need to stick together, it's also very likely the real starting point in truly going to alternative energy sources and not foot dragging. In other words, the longer the fossil industry keeps the prices high, the more damage they'll likely do to themselves, and it might be too late for them already because now energy is a security issue that many countries are going to want to generate it back home.
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@madmanwithmasck Hardly, there are many backup plans to keep things ticking over and you'll be surprised how much change can happen in a short space of time when push comes to shove, thanks to Putin, we could be on the verge of an energy revolution, and all it took was Putin to use energy as a political weapon. Basically, the longer energy prices stay high, the more damaging it will be for the fossil industry and I suspect the renewable industry are licking their lips in knowing what this means, big changes can happen in a short space of time as the second world war showed us, now unlike the past, there is likely a lot more political will to make it happen and mainly to keep the voting public off governments backs.
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Short term, this is bad news for the world as it will likely push up gas prices for most of the world, but this is actually good news because the quicker European countries stop buying from Russia, the more damage the west can do to Russia, also it will in time stabilize prices with them in time coming back down. The good news is, it's unlikely that European countries will buy from Russia again, Putin has crossed the line that it's highly unlikely that many in Europe and around the world will want to buy from Russia, at least not too much to be dependence on them, that longer term will do a lot of damage to Russia but it's even worse than that because European countries, especially in the EU are very likely going to go full steam ahead with renewable and alternative energy sources to become energy independence, that will have longer term damage for any country that produces a lot of fossil fuels because if the EU does this, others are likely going to follow and that's going to make fossil fuels not being needed or being dirt cheap. Fossil fuel countries are probably happy with the boost in profits for now but they must know longer term that what's going on is really damaging to their own industry, I suspect many are not happy with Russia because they are killing the fossil industry sooner than it would be and probably by a decade or more, the irony being, Putin has probably done more for clean energy here then Greenpeace could have dreamed off and all it took was the threat of energy security, especially with EU countries which were already pushing on the green clean agenda, now they've got no excuse to go full steam ahead. Then we have China and India, I suspect once European countries have diversified enough away from Russia, the west, basically the EU and US is very likely going to go after China and India, basically, there's no way the west is going through all this only for China and India to prop up the Russian economy by buying their oil and gas, both countries depend on the west a lot more than the other way around and I suspect the west could put tariffs on goods from China and India to a percentage of how much China and India are gaining by buying cheap oil and gas from Russia, basically, the idea being is to wipe out the benefit of buying from Russia whiles at the same time, making goods and services more expensive from China and India, the west have options that there are more than enough countries around the world that would love to steal that business away from both countries, China and India on the other hand don't really have any other rich customers to sell their goods too and we all know that if the EU and US gets on board with this, a lot of other countries will. At the end of the day, this is all about isolating Russia from the world whiles making the price so high for Russians that they will think twice next time and if not, well the west weakens Russia as a power a lot. So a bit of short term pain for a lot of gains longer term and what we should remember, this isn't just impacting Europe, it's impacting the world, hence the high energy prices and if Russia cuts off more gas, it's likely going to bump up gas prices around the world as European countries buy from other sources, basically, don't expect prices to come down and stabilize around the world until the European countries become more stable on it's energy supple which could take another year or 2.
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@feister2869 Thing is, I doubt the EU and US are doing all this only for China and India to prop up the Russian economy, I suspect once the European countries diversify away enough from Russia, the EU and US are going to go after China and India with the aim of isolating Russia and as we know, China and India can't afford to lose that trade with the EU and US whereas the EU and US can afford to find cheap labour in other countries as I'm sure many will be more than happy to steal that business away from China and India. Either way, there's no way the EU, US and the west are doing this only for China and India to prop up the Russian economy, so let Russia spend a lot of money on it's pipelines to China and India, only for them to be useless afterwords, that's might be what the EU and US are waiting for, they want Russia to spend the money only for it to be a useless project.
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That's just short term, but I suspect we're going to see some big investments and deployments of renewable energy over the years but realistically, we can't just switch to that on mass yet, you have any ideas how much that would bump up the price of renewable energy because of the shortage? Basically, buying oil and gas from other sources is a temporary move to buy some time with the real aim of being energy independence, renewable energy is likely going to play a big part in that. The good news is, the longer the oil and gas prices stay high, the quicker they are killing their own industry as they will force countries into alternative energy sources. Ironically, Putin is probably doing more to clean up the world here then he realizes and mainly because a lot of countries now have the political will to do big changes in the energy sector and all because of energy security. It's going to be very interesting to see the energy mix over the next decade, especially in EU countries because I suspect we are going to get some massive changes that in normal times would take decades.
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