China takes more & more of the gas that once went to Europe
Monday, November 10, 2014, 11:25 PM
Today, Russia inked a second blockbuster deal with China that will starve Europe for natural gas in just a few short years. It's now increasingly clear that 2018 will mark the beginning of the end for any hopes Europe had of returning to robust economic growth.
It was by far the biggest news of the day. While it did make headlines, you might have missed it because not much was made of the affair beyond the announcement. The story came and went as if Russia has oodles of natural gas (NG) to send to China.
It doesn't. And the supplies it has now contracted to send to China will be pulled from supplies that currently go to Europe. » Read more