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Backing down means handing the victory to Russia, which is politically costly in the short term and probably not financially cheaper in the long term. Whether
by ruune 4y ago
Backing down means handing the victory to Russia, which is politically costly in the short term and probably not financially cheaper in the long term. Whether europe wants it or not, they are involved in a war, and you can't just back down in a war without consequences.
You could also argue that the current prices are just a teaser of what's coming anyway so more incentive to innovate now instead of later. Very harsh and not completely true, but I think there's a little bit of truth to it
- ShivShankaran 4y agoRussia is exporting more oil and gas to china and India and in long run will export to Africa as well in addition to building 19 nuclear reactors across the world from Egypt to Argentina. China is reselling Russian lng while India is reselling Russian oil as blend. True intelligence is backing down now but stopping all Russian imports gradually over next 10 years
- mupuff1234 4y agoSo you think the west should've just let Russia take over Ukraine? Even without the sanctions Russia would've still most likely disrupted gas & oil supply as long as the west supplied Ukraine's army.
- ShivShankaran 4y ago
- 323 4y agoChina increased US gas imports to record levels, after the war started. US is now the biggest exporter of LNG gas to China: https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/oil/062920-china-data-lpg-imports-from-us-surge-to-record-high-733385-mt-in-may https://www.spglobal.com/commodityinsights/en/market-insight...
- ShivShankaran 4y agoYour news article is from 2020. In 2022, China increased LNG from Russia by over 60% and dropped from US by 76%. https://markets.businessinsider.com/news/commodities/china-imports-russian-gas-lng-energy-oil-trade-sanctions-moscow-2022-7 https://markets.businessinsider.com/news/commodities/china-i...