The art of the fake deal

Trump has trumpeted his EU fossil fuel deal to sell $250 billion worth of US oil, natural gas and nuclear technologies for each of the next three years. Like all things Trump, it’s all bluster.

“Analysts were puzzled by a target that would involve decisions by shareholder-owned companies in a continent also trying to decarbonise its economy.

“Even if Europe did want to increase its imports, I don’t know the mechanism by which the EU goes to these companies and tells them to buy more US energy,” said Matt Smith at energy consultancy Kpler.

“The numbers were “pie in the sky”, he added. “Companies are beholden to their shareholders and have a duty to buy the cheapest feedstock.”

 

I suppose one upside to this is if it results in replacing Russia as a major source of European energy. But as a “deal,” it’s just standard Trump flummery.

“European gas demand is soft and energy prices are falling. In any case, it is private companies not states that contract for energy imports,” he said. “Like it or not, in Europe the windmills are winning.” 

 

https://www.ft.com/content/b70da808-5a86-4acc-b878-e0c18fe98130?fbclid=IwY2xjawL3bplleHRuA2FlbQIxMQABHo-PVJgHoZ5YXlQ3lowtvwRfjORKDQo2O38OMVeUhK37WUORRkENaETpTxIk_aem_ow2c51cMnRWRyxh5sShBvg

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