Impact of Energy Crisis on Europe

Van der Leyen will go down in history as the one that did the most

damage of any European leader in the history of the European

Union of self-destruction across the whole

industrial spectrum of Europe because Europe

is a fossil fuel importing region, and

it had a source of low-cost natural gas

from Russia that was a mainstay of the European

economy. The United States hated that, by the way,

threatening Germany, "How dare you take low-cost natural

gas from Russia?" So when Europe and Russia

made the physical connections of the pipelines, the

US absolutely went mad. Nord Stream, are

you kidding? Then the Ukraine war started, and Europe, with

its twentieth round of sanctions, which is twenty rounds of

economic self-destruction of Europe, cut itself off from

low-cost Russian gas, which was the industrial heart of Europe.

And the United States said, "That's fine.

We'll provide you liquified natural gas at six times the

cost 'cause they love us." So when Israel and the

United States attacked Iran, this is an even bigger

energy crisis in Europe, and I think everyone has heard a

hundred times in the last week that, uh, roughly twenty percent

of, uh, the world's hydrocarbons flow through

this, uh,

narrow passageway called the Strait of Hormuz, which is

basically under the effective shelling of

Iran. So the traffic of both

petroleum and natural gas has stopped out

of the Persian Gulf region, and that means that

we could see oil prices hundred twenty-five, hundred fifty

dollars a barrel, comparable increases in the price of

natural

gas, and it's gonna kill the European economy

for two

reasons. One, the out-of-pocket outlays will

soar for diesel, for the car, or for

electricity, which is absolutely going to spike yet again.

And second, there's gonna be a lot of closure of

industry because they're

no longer profitable at these high energy costs, and that

will either force directly concessions on wages

or layoffs.

And now we are going to be forced to buy gas from Russia.

Probably, uh, Van der Leyen will say, "We don't really need energy

when there's no more industry, no more work, no more

economy." Europe will be onto its forty-seven sanctions package.