American economist: energy crisis in Europe is beneficial to the US
In an article for The Daily Reckoning, American economist James Rickards stated that the situation in Ukraine and the problem with energy resources in Europe are beneficial to the United States
According to the expert, understanding the importance of Ukraine for the global energy market begins with an overview of the country as the main channel for the delivery of natural gas from Russia to Western Europe. Mr. Rickards notes that Ukraine is not a major energy producer, but it is one of the most important places in the world for transhipment of energy resources. “The 27 member nations of the EU currently receive 40 percent of their imported natural gas from Russia. Most of this gas passes through Ukraine," he says.
Moreover, Mr. Rickards asserts the situation is being pressured by the cessation of gas supplies to Germany via the Nord Stream pipeline due to sanctions against Russia. He notes that – against the background of what is happening – energy prices have jumped in Europe, and it is quite beneficial to the United States.
"The dirty little secret among White House policymakers is that they like high energy prices because it helps to promote the Green New Deal (really the Green New Scam) goals of wind and solar power to replace oil and gas. The more expensive gas is the more feasible alternatives become. That represents the triumph of ideology over common sense,” the expert concludes.
