Sunday, January 01, 2006

An Iron Spicket Has Descended on Europe

Looks like the threat to Europe is not over, at least in terms of "fuel" for their economy:

Oil Issue in Europe

Per News Telegraph, fuel will tighten considerably in Europe via the Iron Spicket:

Russia took Europe to the brink of a winter energy crisis yesterday when it carried out a Cold War-style threat and halted gas deliveries to Ukraine, the main conduit for exports to the West. With a quarter of its gas supplied by Russia, Europe is facing serious disruption and price rises for as long as the dispute rumbles on. Moscow turned off the tap at 10am after Ukraine refused to sign a new contract with the Russian state monopoly Gazprom quadrupling prices.

US officials said the right thing, in public anyway:

The American State Department said that "such an abrupt stop creates insecurity in the energy sector in the region and raises serious questions about the use of energy to exert political pressure".

But I think that might be specific to allies in the region who have been helping on the "war against terrorism" and I think our interests will be much more focused on getting things squared up for them. For countries like Germany & France, it could be a long - cold winner full of hefty heating bills...........................

It's reported that the EU has called for an emergency meeting:

The European Union has called an emergency meeting of energy ministers on Wednesday.

I wonder what role they will be asking American to play in their crisis on this one......................Bail us out again even though we undermine the efforts to keep the world safe from terrorism? I'd have to tell them to take their energy bills like a "French Man" or "German Man", and neither is very positive.............