Tensions with gas and northern countries. Now everyone is running for themselves- Corriere.it

At the height of the summit’s tension, in Brussels on Friday afternoon, the first major crisis of capitalism erupted: the tulip bubble of 1637, when a market fever in Amsterdam took deals worth more than the inherent value of bulbs. Of course, it ended in a devastating explosion. The same thing is happening today Gas pricesThat War in Ukraine It has grown ten times more than it was a year ago.

So do not interfere is another Dutch call With market mechanisms “, which Mario Tracy He pulled out some history: “Today the gas market functions like a tulip market in the seventeenth century,” Prime Minister Hague told his colleague Mark Rudd. Implication: It is meaningless to hide behind liberal fundamentalism, while war breaks out in Europe An energy shock It risks closing down entire industry sectors. Italy, Spain, Greece, Portugal – and France and the head of the commission, Ursula von Der Lyon – continued Propose roofs at methane prices Can be purchased in Europe via pipeline. The Netherlands, home to the gas contract exchange (title transfer facility), continued to operate the ‘market’. With the support of Sweden and Germany. Rutte sought to respond to Drake’s implicit accusation that The Hague puts all the interests of his financial center before all interests, even in the midst of a dramatic crisis. “I do not protect traders – the Dutch prime minister said – I protect the market,” he said.

Today, however, the most significant division is with Berlin. Olaf Scholz fears Any action on gas or Russian coal would lead to a cut in supply and a recession in Germany. During his three months in office, under the leadership of a divided government and under great pressure from businessmen, the Social Democrats did not want to change anything about energy imports from Russia. not now. Within a few days, the Berlin executive stopped three or six of the six or seven refueling ships supplied to the world market for liquefied gas coming from the United States or Qatar. But at the European summit Scholz entered into a disagreement with Draghi, proposing to respond to the current emergency with renewable energy acceleration that would have its first effects in three or four years. The Italian Prime Minister responded: “We maintain European targets on emissions, but we are in a difficult situation: this is not the time for new leaks”. Eventually, the summit developed the idea of ​​trying to find a deal, mainly in May. But the European stalemate will have immediate consequences. Because two years ago in terms of respirators, Kovid initially started a competition between major European countries to find a gas supply to replace the Russians. Although the Brussels Summit has stated its intention to promote joint purchases, each is operating on its own. Mostly it is a bet for Africa, once Italy is relatively advantageous for two reasons: it has already moved ten days ago and has fields under concession in Algeria. Egypt, Congo, Angola or Mozambique could produce methane or liquefied gas within two years – Russia’s 29 billion cubic meters of supply would fail. Spain, meanwhile, will share most of the 15 billion cubic meters of liquefied gas pledged by the US administration with Penelux. Germany and Great Britain have started the African capital (plus Qatar) to look for new offers.

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Italy seeks to hire two reconstruction ships with Snow It costs about $ 35 million a year with at least ten-year contracts. If all goes according to plan, the first ship will be operational next winter, while the second ship will deliver another ten billion cubic meters in 2023 alone. About ten should come from Algeria, two or three should come from domestic production, while the development of renewable products will also help. Already in two years, if everything goes smoothly, Italy may have replaced almost all Russian gas supplies. But even in that case it is inevitable that consumption will decline next winter: a bit of austerity is around the corner.

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