Financial Times: America cannot save Europe from the energy crisis.
An English newspaper written by America cannot save European countries from the energy crisis.
The English newspaper Financial Times wrote that the United States will not be able to ease the European energy crisis by increasing the supply of oil and gas.
Will Wanlow, the president of Quantum Energy Partners, one of the largest investors in the shale oil industry, told this newspaper: “The issue is not that America can produce more oil. Our production is as much as it is. No help is going to be provided either in the field of oil or gas.
European countries, which are trying to cut off the use of Russian energy due to the war in Ukraine, are facing energy shortages.
Analysts fear that the ban imposed by the European Union on the purchase of Russian oil will increase the price of fuel in European countries.
The International Energy Agency has predicted that the full implementation of EU sanctions will cause a 20% drop in Russian oil. Russia is one of the largest exporters of oil in the world, and this decrease will cause a huge shortage in the world markets.
European countries have increased their purchases of oil and LNG from the United States over the past seven months, but according to shale oil industry executives, there is not much more that can be done.
A few days ago, CNN reported that Washington is worried that EU member states may change their position towards Russia in the Ukraine war due to the energy crisis, which could lead to a gap between America and the European continent.
The CNN article states: “The danger of a split in Europe is real. “Citizens in Europe may revolt against the West’s strategy of economic isolation of Russia.”
American officials have been closely following protests and demonstrations in European countries in recent days. A few days ago, thousands of people of the Czech Republic took to the streets to protest against the country’s government, the European Union, and NATO.
Reuters reported that about 70,000 people protested against the government in Prague, the capital of the Czech Republic, on Saturday and called on the ruling coalition to take more measures to control the increase in energy prices. Demonstrators also announced their opposition to the European Union and NATO.
