In other words, you cannot print energy. This makes them completely dependent on the whims of their supplier.
Russian oil is getting to Europe through India and China for months now(1)(2). Russia also never said they wouldn't sell to the EU, their only requirement is payment in rubles and their only opposition was the stupid price cap. It would be expensive but I still don't see why the EU can't subsidize energy prices and put a price cap to consumers.
The US must supply the EU with LNG, I don't think this is negotiable. It is all good fun trying to keep the EU hostage through energy dependence. But you must also not kill your hostage otherwise what is the point?
Sure US capitalists may think that is beneficial but the US alone can't consume let alone produce enough to outcompete China. They need to absorb the EU, not destroy it and a situation where the US refuses to supply LNG for whatever reason would be contradictory and stupid. It is possible, but it is also illogical.
On July 6 2022, the French government announced a €9.7 billion public takeover bid to nationalise Electricité de France (EDF), by acquiring the remaining 16% share of the company. The government has also announced plans to spend €50 billion by 2030 to extend the lives of existing nuclear reactors at the top of President Emmanuel Macron’s plant to build six new ones by 2035 (for a further €50 billion).
On 4 August 2022, the French parliament passed another relief package, this one worth €20 billion. It offers a generalized set of subsidies instead of targeted support. It renews the cap on electricity price increases to 4% and freezes gas prices until the end of 2022.
On 14 September 2022, the government announced that the tariff shield, already extended until December 2022 for gas, and until 1 February 2023 for electricity, will be renewed in 2023. The package includes: capping the increase in gas and electricity prices at 15%; an average increase limit in bills of around €25 per month for households heating with gas; an average increase limit of around € 20 per month for households heating with electricity; support of up to € 200 is also provided for French people heating with oil or wood.
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Russian oil is getting to Europe through India and China for months now(1)(2). Russia also never said they wouldn't sell to the EU, their only requirement is payment in rubles and their only opposition was the stupid price cap. It would be expensive but I still don't see why the EU can't subsidize energy prices and put a price cap to consumers.
The US must supply the EU with LNG, I don't think this is negotiable. It is all good fun trying to keep the EU hostage through energy dependence. But you must also not kill your hostage otherwise what is the point?
Sure US capitalists may think that is beneficial but the US alone can't consume let alone produce enough to outcompete China. They need to absorb the EU, not destroy it and a situation where the US refuses to supply LNG for whatever reason would be contradictory and stupid. It is possible, but it is also illogical.
France to announce details of EDF nationalisation.
Here is a breakdown of the individual EU countries policies so far. France is the only country with both retail and wholesale price regulation.
They could do it, they just don't want to.