North America, on the other hand, leads the world. Europe has fading production in the North Sea and had a crisis at the Groningen gas field that is further limiting production.
For better or worse, Europe is not pursuing fracking. In the long term the world is going to have to green up its chemical industry and BASF could use this as an opportunity to be early to get into the next thing.
Unfortunately, de-industrialisation will pick up pace in Europe - the input costs from high and volatile energy prices will make it untenable to maintain much of the manufacturing base there. This war is a disaster for Ukraine, disaster for Russia, disaster for Europe
yeah, in other words, Europe's industry has profited awesomely from 40+ years (many decades) of steady, super-reliable, cheap (wholesale pipeline prices) Russian gas, and now, 40 years into it, after attempting to crush ruble into rubble (good friend+ally Biden quote) something went unexpectedly wrong. Maybe all that cheap-gas-based industry was not very competitive in the first place?
Surely the better way was to wait silently for tanks first in Moldova, then later in Baltic states and Poland, then Berlin (it was in DDR after all) + huge wave of refugees + more death and torture first on your doorsteps and then in your house. Russia is such a peaceful nation after all, it is all those NATO warmongers who made it rape children in Ukraine.
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[ 2.9 ms ] story [ 27.9 ms ] threadhttps://about.bnef.com/blog/rising-gas-prices-threaten-china...
North America, on the other hand, leads the world. Europe has fading production in the North Sea and had a crisis at the Groningen gas field that is further limiting production.
https://www.reuters.com/business/energy/dutch-limit-groninge...
For better or worse, Europe is not pursuing fracking. In the long term the world is going to have to green up its chemical industry and BASF could use this as an opportunity to be early to get into the next thing.