Europe’s Energy Armageddon From Berlin and Brussels, Not Moscow
On August 22 the exchange-traded market price for natural gas in the German THE (Trading Hub Europe) gas hub was trading more than 1000% higher than a year ago. Most citizens are told by the Scholz regime that the reason is Putin and Russia’s war in Ukraine. The truth is quite otherwise. EU politicians and major financial interests are using Russia to cover what is a Made in Germany and Brussels energy crisis. The consequences are not accidental.
It is not because politicians like Scholz or German Green Economy Minister Robert Habeck, nor EU Commission Green Energy Vice President Frans Timmermans are stupid or clueless. Corrupt and dishonest, maybe yes. They know exactly what they are doing. They are reading a script. It is all part of the EU plan to deindustrialize one of the most energy-efficient industrial concentrations on the planet. This is the UN Green Agenda 2030 otherwise known as Klaus Schwab’s Great Reset.
EU Gas Market Deregulated
What the EU Commission and government ministers in Germany and across the EU are carefully hiding is the transformation they have created in how the natural gas price is determined today. For almost two decades the EU Commission, backed by the mega banks such as JP MorganChase or large speculative hedge funds, began to lay the basis for what is today a complete deregulation of the market for natural gas. It was promoted as the “liberalization” of the European Union’s natural gas market. What it now allows is for unregulated real-time free market trading to fix prices rather than long-term contracts.
Beginning around 2010 the EU began to push a radical change in rules for pricing natural gas. Prior to that point most gas prices were set in fixed long-term contracts for pipeline delivery. The largest supplier, Russia’s Gazprom, provided gas to the EU, most especially to Germany, in long-term contracts pegged to the price of oil. Until the last several years almost no gas was imported by LNG ships. With a change in US laws to allow export of LNG from the huge shale gas production in 2016 US gas producers began a major expansion of LNG export terminal construction. The terminals take an average of 3 to 5 years to build. At the same time Poland, Holland and other EU countries began to build LNG import terminals to receive the LNG from abroad.
Emerging from World War II as the world leading oil supplier, the Anglo-American oil giants, then called the Seven Sisters, created a global oil price monopoly. As Henry Kissinger noted during the oil shocks of the 1970s, “Control the oil and you control entire nations.” Since the 1980s Wall Street banks, led by Goldman Sachs, created a new market in “paper oil,” or futures and derivative trading of future oil barrels. It created a huge casino of speculative profits that was controlled by a handful of giant banks in New York and the City of London.
Those same powerful financial interests have been working for years to create a similar globalized “paper gas” market in futures they could control. The EU Commission and their Green Deal agenda to “decarbonize” the economy by 2050, eliminating oil, gas and coal fuels, provided the ideal trap that has led to the explosive spike in EU gas prices since 2021. To create that “single” market control, the EU was lobbied by the globalist interests to impose draconian and de facto illegal rule changes on Gazprom to force the Russian owner of various gas distribution pipeline networks in the EU to open them to competitor gas.
The big banks and energy interests that control EU policy in Brussels had created a new independent price system parallel to the long-term, stable prices of Russian pipeline gas which they did not control.
By 2019 the series of bureaucratic energy directives of the Brussels EU Commission allowed fully d
Article from LewRockwell