Monday, June 16, 2014
Russia Could Stop Selling Natural Gas to Europe
If Russia now does more and more trade with Asia, instead of with Europe and the West, then obviously that’s not… that’s good for Russia, that’s good for Asia, but America gets cut out and Europe gets cut out. You know, Russia used to sell a lot of gas to Europe, it still does, but if they stop selling natural gas to Europe, and sell it to Asia – that is not good for Europe, and, ultimately, not good for the US either, because the US and Europe are huge trading partners.
America does have oil reserves, but they are not enough to… I mean, if we’ve sold all of our oil reserves, it’s not enough to have any kind of significant effect on the world oil market. It might make the market go down for a day or weeks, or two weeks, even. But, then the markets it’s going to go back before, and the market may even go back more, because then America would have sold its oil reserves, and we wouldn’t have anything in reserve, so… again, you have to ask him, I don’t know, but that doesn’t seem like a very viable solution to me.
It would take a long time for America in order to get natural gas from America to Europe. You don’t just sort of snap your fingers and do that. You don’t just put in on a boat or plane, you’ve got to have special ports on both sides, you’ve got to have special ships, and you’ve got to have natural gas in the right place. Yeah, it could happen someday, but some day is a long time away, and if Russia stops selling natural gas to Europe – that’s going to hurt Europe for several years until American gas can come, and that if we presume and suppose that there is enough American natural gas to ship to Europe. Europe uses a lot of natural gas, and America at the moment seems to have surplus of a natural gas - will they have a surplus in five years? I don’t know. Will we have enough to supply Europe gas for many years? I doubt it. - in Russia Today
Jim Rogers is a bestselling author, financial commentator and successful international investor. Rogers was a co-founder of the Quantum Fund (considered to be the first truly international fund of its kind) and is the creator of the Rogers International Commodities Index (RICI).
at 10:47 AM