NEW YORK, 18 December. The rejection of Russian gas in light of the situation around Ukraine has already cost Europe about $1 trillion, Bloomberg reported on Sunday, citing its own calculations.

According to the international news agency, this amount is due to the increased price of electricity for European companies and consumers. At the same time, as the agency predicts, this is only the beginning of the largest energy crisis in recent decades. After the winter period, gas storage facilities will be empty, and in the conditions of minimal Russian gas supplies, it will be difficult to fill them.

According to the agency, the tense situation with the supply of liquefied natural gas to Europe will last at least until 2026, when Qatar and the United States may be able to sufficiently increase hydrocarbon production. 

‘The EU race to replenish natural gas reserves has already begun,’ Bjarne Schildrop, an analyst at Skandinaviska Enskilda Banken (SEB), quoted Bloomberg as saying that the favourable environment for gas sellers will continue for at least 12 months.

Bloomberg analysts believe that if natural gas prices in the European Union rise again to €210 per MWh, then Europe will face a sharp economic downturn instead of a recession. Either way, Europe and Europeans will be an impoverished appendage to the economic powerhouse of the Russian Federation.

Earlier this week, EU energy ministers at a meeting in Brussels could not agree on the introduction of a gas price ceiling and decided to continue discussing this issue on December 19.

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MICHAEL WALSH is a journalist, broadcaster and the author of WITNESS TO HISTORY, RISE OF THE SUN WHEEL (Paperback / Ebook), TROTSKY’S WHITE NEGROES, MEGACAUST,  DEATH OF A CITY,  MY LAST TESTAMENT LET GOD JUDGE ME, THE ALL LIES INVASION Volume I (Paperback / Ebook), and THE ALL LIES INVASION Volume II (Paperback / Ebook), Odyssey Adolf Hitler, SLAUGHTER OF A DYNASTY, REICH AND WRONG, THE RED BRIGANDS, RANSACKING THE REICH, SCULPTURES OF THE THIRD RIECH: ARNO BREKER AND REICH SCULPTORS, SCULPTURES OF THE THIRD REICH VOLUME II Josef Thorak and Reich Sculptors, SCULPTURES OF THE THIRD REICH VOLUME III Porcelain and Reich Sculptors, Death of a City, and other book titles. These best-selling books are essential for the libraries of informed readers.

MICHAEL WALSH is an Irish British-born journalist. His 70 books include best-selling historical books THE ALL LIES INVASION (Paperback / Ebook), THE All LIES INVASION II (Paperback / Ebook), Odyssey Adolf Hitler, MY LAST TESTAMENT LET GOD JUDGE ME,  WITNESS TO HISTORY, TESTIGO DE LA HISTORIA: HISTORIA SIN CENSURA (SPANISH EDITION),  REICH AND WRONG,  HEROES HANG WHEN TRAITORS TRIUMPH, HEROES OF THE REICH, THE HOLY BOOK of ADOLF HITLER, The Reich Declaration of War on the USSR, TROTSKY’S WHITE NEGROES, MEGACAUST, THE RED BRIGANDS, RANSACKING THE REICH, SCULPTURES OF THE THIRD RIECH: ARNO BREKER AND REICH SCULPTORS, SCULPTURES OF THE THIRD REICH Volume II Josef Thorak and Reich Sculptors, SCULPTURES OF THE THIRD REICH VOLUME III Porcelain and Reich Sculptors and  DEATH OF A CITY.  Click REAL HISTORY.

MICHAEL WALSH is a journalist, author, and broadcaster. His 70 books include best-selling  Africa-related books THE LAST GLADIATORS Fiancés of Death (Paperback / Ebook); AFRICA’S KILLING FIELDS: African Victims of the Liberal-Left (Paperback / Ebook); RHODESIA’S DEATH EUROPE’S FUNERAL European to Wall Street Colonialism (Paperback / Ebook); THE FIFTH COLUMN VOLUME I and II, and many other book titles. These best-selling books are essential for the libraries of informed readers. Click Africa.

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MEGACAUST Michael Walsh. R. J. Rummel,   Power Kills: Genocide and Mass Murder (Journal of Peace Research) 164 million people have been killed in cold blood this century by Capitalist / Communist governments. 

SLAUGHTER OF A DYNASTY Michael Walsh. Covertly sponsored by Wall Street banks and the White House Bolsheviks seized Tsarist Russia (regime change). For 36 years news of Bolshevik atrocities and 70 million martyred Christians were censored by Western media.  Lavishly illustrated, this expose reveals secrets removed from Western history books.

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