Jack Albrecht
1 min readFeb 5, 2023

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Interesting point of view. I agree with some points but as someone working in oil and gas for 30+ years, 25+ of that in Europe, I disagree strongly with your take on Europe's position vis-a-vis Russian oil and gas.

While the war is going on, NATO and EU members are going to stick together, even as cracks grow between NATO members (note the anti-German talk starting in the UK). That does not mean that Europe is really trying to reduce Russian gas and oil use.

European politicians are making policies to reduce Russian gas and oil purchases on paper to a greater or lesser extent depending mostly on US political pressure. In day to day trading everyone knows the substances are highly fungible, and every company is going to find the fuel at the best price they can.

Once the war is finished, or once an end is near, that is when things will get interesting. Currently Russia is winning. You can bet your bottom barrel of Saharan Blend that sanctions on Russian oil and gas are going to be on the negotiating table. Noone except the US has an interest in keeping those sanctions going.

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Jack Albrecht
Jack Albrecht

Written by Jack Albrecht

US expatriate living in the EU; seeing the world from both sides of the Atlantic.

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