Tuesday, December 2, 2014

South Stream Cancelled

This is *BIG* news! JW has often talked about Russia's North and South stream gas pipelines, and we all (should) know how big a part energy plays in today's geopolitics, so it was a shock to read that Putin has decided to postpone, or cancel, the South Stream gas pipeline to Europe:


I don't think Europe has a 'Plan B', especially as the shale gas promised by the US to replace the drop in supplies from the Russian sanctions...is now itself becoming unprofitable because of OPEC's decision to maintain production and lower prices, thereby blowing up the US's industry, which has to make $80/barrell to break even! I think that applies for gas as well as oil...

Got wood?

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