US shale bosses tell Europe: ‘There’s no bailout coming’

[Baron]

LOL
On behalf of USA stupid Europeans support the war in Ukraine and had imposed sanctions on Russia.
Now no gas is coming from Putin
Instead to support its moronic allies USA gives a big kick in assess of imbeciles.

'Executives say they cannot increase oil and gas supplies in time to stop winter energy crunch'

No gas, no industry, Putin and Biden are laughing about European jerks.
Europa is done.



The US shale industry has warned it cannot rescue Europe with increased oil and gas supplies this winter amid fears that a plunge in Russian exports will send crude prices soaring back above $100 a barrel. Even though oil markets have softened in recent weeks, the respite could end when an EU embargo on Russian sales comes into full effect later this year. US Treasury secretary Janet Yellen this week warned the embargo “could cause a spike in oil prices”. However, US shale executives sitting on vast oil and natural gas reserves that could be used to alleviate a European energy crunch say they will be unable to step up supplies quickly enough to prevent winter shortages. “It’s not like the US can pump a bunch more. Our production is what it is,” said Wil VanLoh, head of private equity group Quantum Energy Partners, one of the shale patch’s biggest investors. “There’s no bailout coming,” VanLoh added. “Not on the oil side, not on the gas side.” Oil and liquefied gas exports from the US have risen to take advantage of higher prices in Europe but are now near a maximum, executives said, warning crude output growth will fall short of government forecasts for around 1mn barrels a day this year. Asked about the prospect of a big production increase from the US shale industry, Scott Sheffield, chief executive of Pioneer Natural Resources, said: “No, I don’t see it coming.”

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[1srelluc]

I guess they will continue to have to buy Russian NG from the Chi-Coms at 4X (or more) the price......Virtue signaling has it's consequences.

 

[Baron]

I guess they will continue to have to buy Russian NG from the Chi-Coms at 4X (or more) the price......Virtue signaling has it's consequences.

In this case European industry completely dies within few months

 

[1srelluc]

In this case European industry completely dies within few months

 

[Deplorable Yankee]

Told ya no one is coming to save you

Or any of us

 

[BasicHumanUnit]

I'm fairly certain that the anti-American administration under Biden (even though it's actually Euro-fascists controlling things) will come to Europes rescue, even if it means totally bankrupting America and shipping all of our reserves there, leaving Americans without resources and American taxpayers footing the entire bill.

Don't under estimate the Lefts omnipotent desire to humiliate and harm Americans.

Wait for it.......

 

[DGS49]

Great Britain and mainland Europe have abundant natural gas reserves, mainly available through hydraulic fracturing ("fracking"), but they have CHOSEN not to exploit these gas fields, for fear of offending their "Green" parties (and equivalent).

Who says there is no justice?

 

[Polishprince]

LOL
On behalf of USA stupid Europeans support the war in Ukraine and had imposed sanctions on Russia.
Now no gas is coming from Putin
Instead to support its moronic allies USA gives a big kick in assess of imbeciles.

'Executives say they cannot increase oil and gas supplies in time to stop winter energy crunch'

No gas, no industry, Putin and Biden are laughing about European jerks.
Europa is done.



The US shale industry has warned it cannot rescue Europe with increased oil and gas supplies this winter amid fears that a plunge in Russian exports will send crude prices soaring back above $100 a barrel. Even though oil markets have softened in recent weeks, the respite could end when an EU embargo on Russian sales comes into full effect later this year. US Treasury secretary Janet Yellen this week warned the embargo “could cause a spike in oil prices”. However, US shale executives sitting on vast oil and natural gas reserves that could be used to alleviate a European energy crunch say they will be unable to step up supplies quickly enough to prevent winter shortages. “It’s not like the US can pump a bunch more. Our production is what it is,” said Wil VanLoh, head of private equity group Quantum Energy Partners, one of the shale patch’s biggest investors. “There’s no bailout coming,” VanLoh added. “Not on the oil side, not on the gas side.” Oil and liquefied gas exports from the US have risen to take advantage of higher prices in Europe but are now near a maximum, executives said, warning crude output growth will fall short of government forecasts for around 1mn barrels a day this year. Asked about the prospect of a big production increase from the US shale industry, Scott Sheffield, chief executive of Pioneer Natural Resources, said: “No, I don’t see it coming.”

Subscribe to read

www.ft.com

Sleepy Fucking Joe and his Environmentalist Whacko bosses have demonized oil and gas men in America, and have even suggested that they should be further punished with "excess"profit tax.


Sort of unrealistic for the Eurotrash leaders to expect bailed out here. Maybe they can import a lot more wool underwear to cope with the frozen tundra expected shortly.