“Energy Security”: Global Priority of 2023.

 

Gravitas Priyanka Sharma, tells you more: OPEC thwarting the West's plans?, https://youtu.be/ZZNNDoQP9mw. 

 

“Energy Security”: Global Priority of 2023.  Energy security is top of mind. In the world of natural resources, policymakers have long wrangled with a trilemma: how to achieve security of supply, keep prices low and protect the environment — at the same time and for commodities from crude oil to wheat to aluminum.  Such a trilemma has often meant one of the three gives way to the other two.

Europe has a very dark panorama, apart from its energy problems, we must also see the serious demographic problem, the migration of Africans, and Islamization. The question is what will the European Union bet on?   

A total of 331 companies filed for bankruptcy in Denmark in November, the highest number in 13 years, according to a new report published by SMVdanmark on Monday.  Since the summer "businesses have been hit hard by high inflation, soaring energy bills and, not least, fears about the future of the economy, which have sent consumers' appetite for buying into a tailspin," the SMVdanmark report stated.

The G7, EU, and Australia have imposed a price cap on Russian oil. Russia says it will not abide by it. Meanwhile, OPEC+ plans to continue cutting oil production.  Read more at:https://energy.economictimes.indiatimes.com/news/oil-and-gas/energy-security-is-the-global-priority-for-2023/95817591.

The White House said on Monday that it was not surprised by Russia's reaction to the West's price cap on oil from the country.  Spokesperson Karine Jean-Pierre said the cap can be adjusted over time to prevent Russia from profiting from the war in Ukraine while keeping Russian crude in the market.

The Kremlin says a $60 price cap on Russian oil exports agreed upon by the EU, G7, and Australia will not affect Moscow's military campaign in Ukraine.

"The economy of the Russian Federation has all the necessary potential to fully meet the needs and requirements of the special military operation. These measures will not affect this," Kremlin spokesman Dmitry Peskov told reporters, using Moscow's term for the Ukraine offensive.  

Russia is not Venezuela. If the European Union and the US were able to veto Venezuelan crude, they will have a long way to go to keep the world's largest producer and exporter out of the market.   

San Jose Costa Rica, December 6, 2022, Rafael Alberto Vilagut, alberto.doer@gmail.com.