Europe’s Energy Armageddon from Berlin and Brussels, Not Moscow/ William Engdahl

https://www.globalresearch.ca/europe-energy-armageddon-from-berlin-brussels-not-moscow/5792005

On August 22 the exchange-traded market price
for natural gas in the German THE (Trading Hub Europe) gas hub was
trading more than 1000% higher than a year ago. Most citizens are told
by the Scholz regime that the reason is Putin and Russia’s war in
Ukraine. The truth is quite otherwise. EU politicians and major
financial interests are using Russia to cover what is a Made in Germany
and Brussels energy crisis. The consequences are not accidental.

It is not because politicians like Scholz or
German Green Economy Minister Robert Habeck, nor EU Commission Green
Energy Vice President Frans Timmermans are stupid or clueless. Corrupt
and dishonest, maybe yes. They know exactly what they are doing. They
are reading a script. It is all part of the EU plan to deindustrialize
one of the most energy-efficient industrial concentrations on the
planet. This is the UN Green Agenda 2030 otherwise known as Klaus
Schwab’s Great Reset.

EU Gas Market Deregulated

What the EU Commission and government ministers in
Germany and across the EU are carefully hiding is the transformation
they have created in how the natural gas price is determined today. For
almost two decades the EU Commission, backed by the mega banks such as
JP MorganChase or large speculative hedge funds, began to lay the basis
for what is today a complete deregulation of the market for natural gas.
It was promoted as the “liberalization” of the European Union’s natural
gas market. What it now allows is for unregulated real-time free market
trading to fix prices rather than long-term contracts.

Beginning around 2010 the EU began to push a
radical change in rules for pricing natural gas. Prior to that point
most gas prices were set in fixed long-term contracts for pipeline
delivery. The largest supplier, Russia’s Gazprom, provided gas to the
EU, most especially to Germany, in long-term contracts pegged to the
price of oil. Until the last several years almost no gas was imported by
LNG ships. With a change in US laws to allow export of LNG from the
huge shale gas production in 2016 US gas producers began a major
expansion of LNG export terminal construction. The terminals take an
average of 3 to 5 years to build. At the same time Poland, Holland and
other EU countries began to build LNG import terminals to receive the
LNG from abroad….

For the complete article, please go to Global Research’s cite here