![]() It was mostly due to the shale revolution. And not just the Western world it’s everybody. Has the world become complacent-at least the West?ĬS: Yes. ND: Oil and gas have been too cheap for too long. One of the central issues is nobody seems to have an energy policy. But it was too late for Europe to do anything about it. ND: Russia has cut off supply in the past.ĬS: Russia was reliable until about two years ago. Don’t depend entirely on one supplier because then you make yourself very vulnerable. It is just common wisdom to diversify your sources. They’re not going “all Russia.” They are signing agreements in the United States as if we were the best friends in the world. Look, even the Chinese: We’re not exactly friendly with them today, but they’re hedging their bets. They took the position, universally almost, in Europe that they were going to prefer to get all their gas from Russia than from the United States. ![]() They thought Russia was friendly and, from their standpoint, Russia was part of Europe and the U.S. Is this surprising to you?ĬS: No, I’m not surprised. It’s confounding that Europe would dilly-dally about securing friendly energy supply. was going to develop its own shale during the past decade but quit. The problem has now come to the West, which a year and a half ago wasn’t true. “So what?”īut you start talking about not having enough energy for heating or electricity in Europe and, all of a sudden, everybody pays attention. You say that you’re going to have a shortage of fertilizer in Bangladesh or Pakistan and people shrug. Europe is not used to dealing with misery, whereas the emerging countries are. This winter, you’re going to have misery in Europe. ND: How soon could this result in a financial crisis?ĬS: I think we’re already seeing it. It’s not just natural gas there’s a shortage of all kinds of energy.Īnd there’s a shortage of mining-for copper and other things that go into solar panels and windmills. Nissa Darbonne: Could energy costs be the new global financial crisis?Ĭharif Souki: Definitely. to become the U.S.’ first Lower 48 LNG exporter-there had been exports from Alaska from 1969 to 2015-Souki is a world citizen born in Egypt, spending his youth in Lebanon and traveling the world as the son of a foreign news correspondent and, later, as a private investor.Ĭurrently, he’s building a second LNG export plant, Driftwood, south of Lake Charles, La., as executive chairman of Tellurian Inc. In addition to leading Cheniere Energy Inc. Oil and Gas Investor had visited with Charif Souki two days earlier for his perspective on energy and world order. Holger Schmieding, the London-based economist, told Sorkin, “We are paying through the nose for imports of natural gas.”Īt the time, the Dutch TTF price for LNG-the Henry Hub, if you will, of Europe-was $90 per MMBtu. energy prices appear to have peaked, “economists see more pain ahead for Europe … through the autumn and into next year.” “Europe’s economic outlook continues to go from bad to worse,” wrote Andrew Ross Sorkin in the New York Times’ “DealBook” newsletter Aug. In London, a chief economist was predicting a natural gas-spawned recession. In early September, more than 50,000 Czechs protested in Prague, calling to renew receiving natural gas from Russia. Meritorious Awards for Engineering Innovation (MEAs).Rextag database of energy infrastructure assets Prices for top E&P stocks and commodities. Information on assets, buyers and sellers, deal values, and more.Ī searchable database of oil and gas debt and equity offerings. If desired, memorial contributions to the Humane Society would be appreciated.Database of selected U.S. Friends and relatives are invited to join the family Monday, July 26th, 2021, from 2-4 & 6-8 PM at the Brock and Visser Funeral Home, 845 Devonshire Ave., Woodstock (Due to COVID, space is limited, and guests are required to RSVP in advance at the funeral home website). ![]() Alisa was employed with Execulink, and loved animals of any size or nature. Also survived by many aunts, uncles, cousins and numerous friends. Dear sister of Amy (Greg) Smith and their children Aralyn, Graedon and Analee. Cherished daughter of Connie and Gary Hart. Beloved mother of Aria Hart and Zoie Parker. Alisa Jane Hart HART, Alisa Jane – Passed away suddenly on Thursday, July 15th 2021 at her residence, in her 46th year.
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