If Russia invades Ukraine the global energy markets could face a supply crunch not seen since the 1970s.
Former U.S. Sen. Joe Lieberman, I-Conn., discusses the fate of the Nord Stream 2 pipeline if Russia were to invade Ukraine and Biden's handling of the crisis unraveling in Eastern Europe.
The Biden administration says the U.S. will prevent Nord Stream 2 from coming online if Russia invades Ukraine. Yet if Russia then cuts off natural gas and oil supply in retaliation, can it be replaced? Maybe, if foreign natural gas and oil producers heed the Biden administration’s plea for help. The U.S. could assist, but it's unclear why we are not leaning on the domestic energy industry.
Many experts know that if Russia decides to cut the supply, it would almost be impossible to replace. At the same time, a war could critically damage energy infrastructure in the region that could take years, if not decades, to fix. Not to mention the human cost of war that is devastating. In Europe, backup energy supplies are at historically low levels, and that is partly by design.
Phil Flynn is senior energy analyst at The PRICE Futures Group and a Fox Business Network contributor. He is one of the world's leading market analysts, providing individual investors, professional traders and institutions with up-to-the-minute investment and risk management insight into global petroleum, gasoline and energy markets.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
White House says Russia could invade Ukraine within the week, asks Americans to leave immediatelyIs Russia invading Ukraine? Joe Biden's administration said Vladimir Putin could an wage attack within days, even before the 2022 Winter Olympics end.
Les mer »
Blinken says Russia could invade Ukraine during OlympicsRussia could invade Ukraine during the current Beijing Winter Olympics so Americans should leave the Eastern European country immediately, U.S. Secretary of State Antony Blinken said Friday.
Les mer »
Biden, Putin plan high-stakes call on Saturday amid Ukraine-Russia tensionsRussian President Vladimir Putin and President Joe Biden are holding a call on Saturday as tensions over a possible Russian invasion of Ukraine escalated.
Les mer »
Pentagon orders departure of U.S. troops in Ukraine as Russia crisis escalatesOn Friday, President Joe Biden's national security advisor, Jake Sullivan, urged any Americans still in Ukraine to leave immediately.
Les mer »
Blinken Says Russia Could Invade Ukraine ‘At Any Time’ — Even During Beijing OlympicsI am a London-based reporter for Forbes covering breaking news. Previously, I have worked as a reporter for a specialist legal publication covering big data and as a freelance journalist and policy analyst covering science, tech and health. I have a master’s degree in Biological Natural Sciences and a master’s degree in the History and Philosophy of Science from the University of Cambridge. Follow me on Twitter theroberthart or email me at rhartforbes.com
Les mer »