Is Canada Indirectly Funding the Russia-Ukrainian War?
If you don’t know what’s happening between Russia and Ukraine in the past few months, you’ve been living under a rock to say the least, but Russia has used the recent hike in oil prices to fund their war as they are the 3rd biggest oil producer in the world. Let me expand on this, with all the sanctions other countries have been putting on Russia since their invasion of Ukraine, the world’s total crude oil and renewable energy supply decreased, yet demand has only increased or at the minimum stayed the same.
Using basic laws of economics, gas prices would increase. 16 countries in Europe majority source of gas supply and energy came from Russia in 2021. Many experts are proclaiming the energy crisis is happening and is here to stay and get worse. Natural gas prices went over $3,100 USD per 1000 cubic meters just two weeks ago which was a 610% increase YoY. (Traded on Dutch TTF Market.) Due to the prices of natural gas becoming higher and higher, many power stations importing this natural gas from Russia have been raising their prices or else they wouldn’t be able to operate, which means consumers are seeing 10x increases their energy bills across Europe.
Let’s take Germany for example, as they are Europe’s largest economy and were recorded as the largest importer of Russian gas in 2021. Germany shut down many of their Nuclear Power Plants due to a Fukushima Accident about a decade ago. Then they had switched to wind power and relying on Russia for most of their energy, but now Russia is the only one who is profiting on this war. It was just recently announced by Russia’s largest company, Gazprom that they would be shutting down Nord Stream 1 pipeline which is responsible for majority of natural gas transportation to Europe.
It was about 2 months ago when a gas turbine belonging to Russian oil company, Gazprom was sent into Quebec for servicing, yet Trudeau was a bit late to act on sanctioning it, he was a national embarrassment by not helping Europe. An LNG pipeline from Canada to Europe has been in the talks for years now, yet Trudeau has failed to act upon it, not only would it help our GDP, Economic Growth, and supply Canadian jobs, but it would create the European’s bills to be a bit lower.
It is no surprise that the Russians have done this as in preparation for the unlawful invading of Ukraine, Russia began emptying German gas storages back in 2021 and slowing it’s total production, yet the demand increased, Gazprom has had a number of excuses. If it has not reflected upon the Canadian government yet, I’ll say it again in a clear manner, replace overseas oils with Canadian energy and start becoming an international exporter!
As Pierre was recently elected as the Leader of the Conservative Party of Canada, he promises to:
Repeal anti energy laws C69 and C48
Replace overseas oil with Canadian energy
Approve LNG Saguenay
Open the Port of Churchill to energy exports
