Merkel declares G8 defunct; Europe scrambles to replace Russian gas

posted at 5:21 pm on March 20, 2014 by Bruce McQuain

German Chancellor Angela Merkel has declared the G8 to be dead, thanks to Russia’s take over of the Crimea:

German Chancellor Angela Merkel declared the Group of Eight leading nations defunct given the current crisis in Ukraine, in a clear message to Russia that the world’s seven other major industrialized countries consider its actions in Ukraine unacceptable. “As long as there is no political environment for such an important political format as the G-8, the G-8 doesn’t exist anymore, not the summit nor the format,” said Ms. Merkel, in Germany’s parliament, the Bundestag. “Russia is widely isolated in all international organizations,” the chancellor said.

Ah, yes, the old “isolated in all international organizations” gambit.  And what have all the “international organizations” done in reaction to Russia’s Crimean takeover?  About what they did when Russia pushed into Georgia.  A whole lot of nothing. It is one thing to have international organizations that have teeth and are willing to do something in reaction to such a blatant act.  But when they mostly issue statements condeming the action and void the Netflix accounts of certain Russian officals, being isolated from those organizations isn’t such a big deal.  All it does is make further diplomatic efforts more difficult, not that it is clear that Russia is open to diplomatic overtures.

Another thing that is happening is Europe is discovering it has managed to put itself in an energy situation that isn’t at all to its advantage.  30% of Europe’s natural gas flows through Russian pipelines (Germany gets 40% of its natural gas supplies from Russia).

So the scramble is purportedly on to change that situation.

European leaders will seek ways to cut their multi-billion-dollar dependence on Russian gas at talks in Brussels on Thursday and Friday, while stopping short of severing energy ties with Moscow for now. EU officials said the current Ukraine crisis had convinced many in Europe that Russia was no longer reliable and the political will to end its supply dominance had never been greater. “Everyone recognises a major change of pace is needed on the part of the European Union,” one EU official said on condition of anonymity. As alternatives to imported gas, the Brussels talks will debate the European Union’s “indigenous supplies”, which include renewable energy and shale gas.

Now, one would think that such a situation would call for drastic and speedy action.  Anyone want to bet how long they dither and, should they decide to exploit their “indigenous supplies”, how onerous the rules and regulations will be?

When leaders of the European Union’s member states meet today and tomorrow (20-21 March) in Brussels, they hope to reach consensus on the EU’s long-term climate goals. But agreement appears unlikely because of deep divisions between east and west. Ahead of the summit, ministers from 13 member states signed a declaration supporting a European Commission proposal for an EU commitment to reduce carbon dioxide emissions by 40% from 1990 levels by 2030 – up from a 20% target set for 2020. This ‘green growth group’ includes France, Germany, Italy and the UK. But Bulgaria, the Czech Republic, Hungary, Poland, Romania and Slovakia are wary of the target and the timeline, and are resisting any such commitment.

The latter group will most likely be all for moving ahead as speedily as possible to exploit “indigenous supplies”.  They’ll meet some pretty stiff headwinds, apparently, from the Western EU nations. You can almost see this train wreck coming.

Meanwhile in the pursuit of “green energy”, Europe is apparently ready to toss in the towel:

Governments across Europe, regretting the over-generous deals doled out to the renewable energy sector, have begun reneging on them. To slow ruinous power bills hikes, governments are unilaterally rewriting contracts and clawing back unseemly profits.

You have to laugh.  “Unseemly profits”?  They’re subsidies, sir.  Not profit.

It’ll be interesting to see if the EU has the will to sort this all out in the next couple of days.  If one is a betting person, you’d have to guess that the odds for success are long, given the EU’s recent history.

~McQ


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The problem isn’t the EU, it’s the USA, specifically the feverishly anti-fossil fuel Obama Administration. They are holding up export permits for natural gas, oil, and coal for no sound reason at all (except to keep prices higher, perhaps, which helps Russia stay afloat).

Adjoran on March 20, 2014 at 5:24 PM

And Putin shrugs, says “yeah so”?

major dad on March 20, 2014 at 5:25 PM

Got to watch those Germans. When I was in the Army in Germany back in the late 80′s we asked a German Major why all of their trucks had such fat tires. He sneered and said ” It is very muddy in the Ukraine in the winter, we have learned our lessons ….”

argusx2002 on March 20, 2014 at 5:26 PM

Geez. It’s a shame the US doesn’t have plenty of Natural Gas.

JusDreamin on March 20, 2014 at 5:28 PM

Geez. It’s a shame the US doesn’t have plenty of Natural Gas.

JusDreamin on March 20, 2014 at 5:28 PM

Yeah, cryin’ shame.

hawkeye54 on March 20, 2014 at 5:30 PM

30% of Europe’s natural gas flows through Russian pipelines (Germany gets 40% of its natural gas supplies from Russia).

If only we had had an American President who warned Europe about that. But instead we have dummies like Reagan, Sarah Palin and Mitt Romney. . .

rbj on March 20, 2014 at 5:30 PM

I’d rather wish we’d isolate ourselves from international organizations personally speaking.

Defenestratus on March 20, 2014 at 5:31 PM

When it suddenly gets very cold or very hot and they can’t do a damn thing about it because they need more energy, things will change.

And yeah, too bad the US is so similarly stupid that we’re not in a position to simply say, “OK, turn off the Russian supply immediately – we’ve got you covered.”

Midas on March 20, 2014 at 5:31 PM

Yeah, cryin’ shame.

hawkeye54 on March 20, 2014 at 5:30 PM

I don’t even have the energy to get mad anymore. Heck, if I did, Bozo & Co. would find a way to tax it.

JusDreamin on March 20, 2014 at 5:32 PM

German Chancellor Angela Merkel…

Merkel Takes Germany From Nuclear Energy to Green

Chancellor Angela Merkel immediately closed the country’s eight oldest reactors. Although a phaseout of nuclear energy in Germany had been planned before Fukushima, Merkel decided to speed up the shuttering of the nine remaining reactors by about a decade, to 2022. The government is planning to get 80 percent of its electricity from renewables by 2050, up from about 23 percent now.

I imagine Putin pays as much attention to this chattering dingbat as he does to Obama.

sharrukin on March 20, 2014 at 5:36 PM

Why is all this happening?

Because Vladimir Putin took the measure of Barack Obama and found him lacking.

BobMbx on March 20, 2014 at 5:37 PM

I don’t even have the energy to get mad anymore. Heck, if I did, Bozo & Co. would find a way to tax it.

JusDreamin on March 20, 2014 at 5:32 PM

Best you just vent a bit and not get mad. Not good for the blood pressure and digestion either, and treatment under the “Cannot Afford Care Act” is a no go with those high deductables, so do remain calm.

hawkeye54 on March 20, 2014 at 5:37 PM

I imagine Putin pays as much attention to this chattering dingbat as he does to Obama.

sharrukin on March 20, 2014 at 5:36 PM

Alas, like the USA, Germany just doesn’t strike fear in a tyrant anymore.

/SNARK

hawkeye54 on March 20, 2014 at 5:39 PM

At least she has the balls to take real step that will hurt the Russian economy.

Tater Salad on March 20, 2014 at 5:40 PM

Probably be a good time to invest in some NG liquification facilities here. Many thanks to Putin for creating some pants wetting focus in Europe.

butch on March 20, 2014 at 5:40 PM

More trouble coming in the Ukraine.

Ukraine to Impose Wealth Tax on Deposits

http://www.index2day.com/article/ukraine-tax-deposit-interest/

The Prime Minister of Ukraine Arseniy Yatsenyuk proposed on Wednesday 19th of March 2014 the adoption of taxes on wealth of the richest Ukrainians in order to tackle the economic crisis in the country, clarifying that the law will apply to him as well.

The Ukrainian prime minister stated that the proposed tax measures should apply on deposits more than 50,000 hryvnia (less than 4,000 euros). The measure is expected to affect approximately 10% of the population.

Mr Yatsenyuk specifically stated: “Rich people ought to share their wealth with the country. It is time for justice. It is time to help the country”.

Ukraine To Stun Citizens With 40% Gas Price Hike

http://www.zerohedge.com/news/2014-03-20/honeymoon-over-ukraine-stun-citizens-40-gas-price-hike

Ukraine expects to increase domestic gas prices by 40% once discounted import prices from Russia expire, the country’s Energy Minister Yury Prodan told journalists in the European Parliament on Thursday.

sharrukin on March 20, 2014 at 5:42 PM

What a disaster for Russia.

They’ve just handed over all their clients for the only source of national income over to the US.

Putin has really screwed the pooch here.

everdiso on March 20, 2014 at 5:43 PM

In the meantime:

Ukraine crisis: Could Trans-Dniester be next?

A narrow strip of land between the Dniester river and the Ukrainian border.

Russia’s annexation of Crimea has led some to wonder whether any other former Soviet countries could follow. The separatist region of Trans-Dniester has already offered itself to Moscow – a request which Russia has promised to consider. This week the Supreme Soviet sent an official request to Moscow asking if – given Crimea – Trans-Dniester could be allowed to join the Russian Federation.

kcewa on March 20, 2014 at 5:44 PM

Alas, like the USA, Germany just doesn’t strike fear in a tyrant anymore.

/SNARK

hawkeye54 on March 20, 2014 at 5:39 PM

She shot herself in the foot with that nuclear shutdown and Germany along with her. Obama ain’t the only mental midget out there.

sharrukin on March 20, 2014 at 5:44 PM

The American POTUS has the duty to protect Americans and our Allies.

We have an Anti-American Presentdunce that won’t do either.

So what’s the alternative? Just sit around and watch a repeat of the many hot and cold wars of the past? Of get rid of this stinking stupid community agitator from the dumpster of Chicago?

Is he worth more than the futures of America, Europe and our Allies?

That is the question that must be answered.. Quickly.

Key West Reader on March 20, 2014 at 5:44 PM

What a disaster for Russia.

They’ve just handed over all their clients for the only source of national income over to the US.

Putin has really screwed the pooch here.

everdiso on March 20, 2014 at 5:43 PM

LOL.

Very subtle sarcasm indeed. Well done!

sharrukin on March 20, 2014 at 5:45 PM

I’m just sitting back. Gonna Crimea a river.

hip shot on March 20, 2014 at 5:46 PM

What a disaster for Russia.

They’ve just handed over all their clients for the only source of national income over to the US.

Putin has really screwed the pooch here.

everdiso on March 20, 2014 at 5:43 PM

Pajama Boy has joined the thread.

Would you like a onsie and some hot cocoa dear?

/Farking idjit

Key West Reader on March 20, 2014 at 5:46 PM

Why is all this happening?

Because Vladimir Putin took the measure of Barack Obama and found him lacking.

BobMbx on March 20, 2014 at 5:37 PM

I suspect that started when he watched The Won do his global apology tour shortly after his 2008 election. Say what you will about Putin, but, I think he loves his country. I’ll bet he was appalled at a new president ripping on his own country all over the world Then, he knew what to expect as he performed his depantsing procedure in Syria.

butch on March 20, 2014 at 5:46 PM

Replace Russian natural gas? What about all those great wind mills and solar panels you bought for so many billions?

VorDaj on March 20, 2014 at 5:47 PM

What a disaster for Russia.

They’ve just handed over all their clients for the only source of national income over to the US.

Putin has really screwed the pooch here.

everdiso on March 20, 2014 at 5:43 PM

LOL.

Very subtle sarcasm indeed. Well done!

sharrukin on March 20, 2014 at 5:45 PM

Ewps, my bad. Please take advantage of the sarc tag. Thank you.

Key West Reader on March 20, 2014 at 5:47 PM

Sarcasm?

Putin has gained a small slice of land – which he already controlled anyways – and has lost all economic credibility internationally.

His country has only one income source,and its already been drying up – and now he’s gone and scared away his best customers.

And he thinks he can scare them because he sources a quarter of their gas? That’s his stick?

Putin has just sacrificed everything he had in order to “gain” something he already had.

What a colossal **** up on his part.

everdiso on March 20, 2014 at 5:51 PM

Pajama Boy has joined the thread.

Would you like a onsie and some hot cocoa dear?

/Farking idjit

You want to arm wrestle you big scary Alpha Male you?

Or will you hide behind your guns?

everdiso on March 20, 2014 at 5:54 PM

Very subtle sarcasm indeed. Well done!

sharrukin on March 20, 2014 at 5:45 PM

that sarcasm was so subtle it is the truth, its that good

DanMan on March 20, 2014 at 5:54 PM

sharrukin on March 20, 2014 at 5:42 PM

Boy howdy….will Barack ever be pissed when he learns about that.

How dare some Cossack assault the good people of the Ukraine, who obviously understand the needs of its people and is doing those things that need to be done to bring equality to all.

“General, lets get to DEFCON 2. This crap in the Ukraine and Crimea ends now….”

BobMbx on March 20, 2014 at 5:55 PM

Or will you hide behind your guns?

everdiso on March 20, 2014 at 5:54 PM

Ahem…..if you are looking at someone, and they appear to be hiding behind a gun…..uh….they aren’t hiding. They’re looking down the sight…at you.

BobMbx on March 20, 2014 at 5:56 PM

Ms. Merkel seems to be as full of gas as our own SCOAMF. Looks like Puti-put will be making out on this Global Warming garbage just as well as Algore. So, not only do lying liars lie, they get rich.

NOMOBO on March 20, 2014 at 5:57 PM

Slightly OT but The White House Womyn are in CHINA and spending tax dollars like there is no tomorrow. About this ‘private junket’ some WH security pukes commented:
“What the first lady really brings is the power of her own story, the power of American values.”

Right. How about her saying (more than once) “I’ve never been proud of my Country.”

She and ‘The Girls’ are setting the PERFECT tone for our foreign policy.
I’m certain the Chinese will accommodate her and her $100K/day entourage.
Payout you Stupid Americans. THREE MORE YEARS … do you think it is going to SUBSIDE? What morons.
Go ahead and think you can vote for King Putt AGAIN. The STUPID is hard set in this populace.

Missilengr on March 20, 2014 at 5:59 PM

You want to arm wrestle you big scary Alpha Male you?

Or will you hide behind your guns?

everdiso on March 20, 2014 at 5:54 PM

I’m a girl BTW. I have no issue with you, unless you are serious about defending this jive talking huckster posing as a POTUS. If that is in fact the case I will wrestle you, and likely win, especially if you’re all tied up in that onsie!

/ <S.A.R.C. T.A.G.

Key West Reader on March 20, 2014 at 6:00 PM

Defunct, Kaput!

jake49 on March 20, 2014 at 6:00 PM

Your guys’ fear of putin is pretty funny, really.

Then again, he kind of is your ideal republican candidate – runs a country with a 13% flat tax, has no corporate regulations, drills baby drills, hates gays, is a dominantly christian country that allows employers to discriminate based on religion, and runs a badass toughguy foreign policy.

Heck, Putin’s Russia sounds like a rightwing paradise – why don’t you guys move over there?

everdiso on March 20, 2014 at 6:00 PM

Obama ain’t the only mental midget out there.

sharrukin on March 20, 2014 at 5:44 PM

Sad, but true. Many in the world have taken note.

hawkeye54 on March 20, 2014 at 6:00 PM

Putin has gained a small slice of land…

He’s angered his neighbors and alienated his allies. It was an unforced error despite what the Putin lovers around here say.

Mmm...Burritos on March 20, 2014 at 6:02 PM

Sarcasm?

My apologies, I assumed you weren’t an idiot.

Putin has gained a small slice of land – which he already controlled anyways – and has lost all economic credibility internationally.

What exactly is international economic credibility?

His country has only one income source,and its already been drying up – and now he’s gone and scared away his best customers.

And he thinks he can scare them because he sources a quarter of their gas? That’s his stick?

everdiso on March 20, 2014 at 5:51 PM

Sorry, Congress, America can’t save Ukraine by selling it natural gas.

Those calls miss a fundamental point: Simply making it easier for the United States to export gas won’t automatically translate into help for beleaguered friends, especially because customers in Asia are willing and able to pay higher prices for gas than anyone else.

“You can issue all the permits you want. Gas companies still won’t lose money on purpose to help the United States achieve geopolitical gains,”

few if any of the remaining terminals waiting in line will be operational before 2018.

Terminals that have already won conditional approval have supply contracts with power companies in Japan, South Korea, and India. Japanese firms, for example, have secured supply deals with four of the six terminals that have won Energy Department approval so far.

Shipments from the United States to Europe are expected to add about $4 to the price of gas, while the longer route to Asia will likely add about $6 to the price. As natural gas becomes pricier at home, it becomes harder for U.S. gas to undercut gas overseas. Much of Europe pays around $10 to $11 per million Btu for Russian gas, for example — which would already make it tough for U.S. gas to compete.

In Asia, LNG fetches higher prices than in other parts of the world — about $15 per million Btu. That does provide a market for U.S. exports, especially since Japan needs gas to replace its shuttered nuclear fleet, and China hopes to boost the use of gas to clean up its power sector. But it also means that gas exporters will look first to customers in Asia that are willing to pay a premium rather than to the ones in Europe that aren’t.

Putin can easily sell to China as well via overland pipelines.

There will always be a market for natural gas and the customer isn’t going to care if its Russian, or not.

sharrukin on March 20, 2014 at 6:02 PM

I’m a girl BTW. I have no issue with you, unless you are serious about defending this jive talking huckster posing as a POTUS. If that is in fact the case I will wrestle you, and likely win, especially if you’re all tied up in that onsie!

Well, looks like we’ll be forced to wrestle, then.

Fair warning, though – i’m disarmingly adorable in my onsie.

everdiso on March 20, 2014 at 6:03 PM

Heck, Putin’s Russia sounds like a rightwing paradise – why don’t you guys move over there?

everdiso on March 20, 2014 at 6:00 PM

I play this rarely
Gift for you.

Key West Reader on March 20, 2014 at 6:04 PM

Boy howdy….will Barack ever be pissed when he learns about that.

BobMbx on March 20, 2014 at 5:55 PM

Well I imagine he would be more p!ssed about some Ukrainian stealing his campaign lines about “sharing the wealth”.

sharrukin on March 20, 2014 at 6:05 PM

What exactly is international economic credibility?

Who the heck is going to invest in russia now? How is russia going to earn new customers? Who invests in a market that can be changed at the whim of some crazy coot like vladdy?

What’s his endgame? World domination?

everdiso on March 20, 2014 at 6:07 PM

Gift for you.

Key West Reader

Now you’re making me blush!

everdiso on March 20, 2014 at 6:08 PM

This whole situation means the beginning of the end to environmentalism. Merkel isn’t a dictator. She has done what she can to walk a tightrope between the greenies and common sense. There are still too many people who want this nonsense. That will change now.

crankyoldlady on March 20, 2014 at 6:14 PM

Who the heck is going to invest in russia now?

everdiso on March 20, 2014 at 6:07 PM

The same folks the US keeps borrowing money from to keep the party going in Washington DC?

http://www.upi.com/Business_News/Energy-Resources/2014/01/23/Russia-China-discuss-natural-gas-ties/UPI-77891390481245/

BEIJING, Jan. 23 (UPI) — Russian energy company Gazprom said it discussed in Beijing its options for delivering more natural gas to the Chinese market with state-owned CNPC.

Gazprom’s top executive, Alexei Miller, traveled to Beijing to meet with Zhou Jiping, chairman of state-owned China National Petroleum Corp.

“The meeting participants addressed the issues of Russian natural gas supply to the Chinese market via the eastern route,” Gazprom said in a statement Wednesday. “Both parties are interested in successful completion of the negotiations and looking forward to signing a contract as soon as possible.”

And of course those Germans…

http://www.reuters.com/article/2014/03/17/us-rwe-rwe-dea-stocks-idUSBREA2G0PN20140317

German utility company RWE (RWEG.DE) is to sell its oil and gas unit DEA RWEDE.UL to investors led by Russia’s second-richest man Mikhail Fridman, giving up a profitable part of its business in a bid to emerge from a deep energy industry crisis.

“The timing of the deal could be better indeed, but I reckon there won’t be much opposition as the Russian state is not involved,” said a senior industry source.

A spokeswoman for Germany’s Economy Ministry said on Monday Europe’s biggest economy was not worried that the deal would be a threat to natural gas supplies.

Business goes on despite the terrible injustices in the world.

sharrukin on March 20, 2014 at 6:17 PM

Well, John Kerry says climate change is the biggest threat of all, so no help from us.

I can’t wait till he gives Germany and the EU helpful hints for conservation.

PattyJ on March 20, 2014 at 6:19 PM

Europe scrambles to replace Russian gas? Geez, I thought the EU was bursting at the seams with renewable energy – so much so, they started taking their nuclear generating stations offline.

Hill60 on March 20, 2014 at 6:21 PM

German Chancellor Angela Merkel declared the Group of Eight leading nations defunct given the current crisis in Ukraine, in a clear message to Russia that the world’s seven other major industrialized countries consider its actions in Ukraine unacceptable. “As long as there is no political environment for such an important political format as the G-8, the G-8 doesn’t exist anymore, not the summit nor the format,” said Ms. Merkel, in Germany’s parliament, the Bundestag. “Russia is widely isolated in all international organizations,” the chancellor said.

So let’s call it the G-7 and hold the next meeting in Berlin ASAP, with Putin not invited. They should have two items on the agenda:

1) What to do about Ukraine;

2) A crash program to wean Europe from Russian natural gas–including fracking on Western European territory, and building LNG terminals “schnell” along both sides of the Atlantic–in the U.S. for export and in Europe for import.

After all the money they wasted tilting at windmills and solar panels, they would get a lot more bang for their buck Euro building LNG terminals. Then they could give Putin a royal pain in his Ukrainium.

Steve Z on March 20, 2014 at 6:23 PM

Meh.

There is enough non-Russian natural gas reserves in the North Sea to supply all of Europe’s demands for centuries. Not to mention potential shale reserves on the continent, which by some estimates exceeds that of the US. I can assure you that the political will to get those resources will be there if the only alternative is to subsidise a beliggerent Putin regime in Russia.

Besides, Russia’s problem is not finding customers for its natural gas, but its dependence on it. 2/3s of Russian exports is energy based. When prices dipped moderately in 2009, Russian GDP tanked.

Norwegian on March 20, 2014 at 6:29 PM

the political will to get those resources will be there if the only alternative is to subsidise a beliggerent Putin regime in Russia.

Norwegian on March 20, 2014 at 6:29 PM

The “political will” won’t be heard from until the electricity goes out and nobody can heat their homes.

In a sense, Putin has done the world a favor by tossing a bucket of ice water onto the fire of liberalism.

Even community organizers have to eat, you know. No fuel, no food.

BobMbx on March 20, 2014 at 6:38 PM

Geez, I thought the EU was bursting at the seams with renewable energy – so much so, they started taking their nuclear generating stations offline.

Hill60 on March 20, 2014 at 6:21 PM

Hey everyone in the EU, just hook up all them bikes ya got to generators and get to peddlin’, an peddlin’, and peddlin’.

/SNARK

hawkeye54 on March 20, 2014 at 6:38 PM

If you want to know what’s going on in Germany one place is “The Local”, Germany’s news in English.

crankyoldlady on March 20, 2014 at 6:40 PM

I’m pretty sure Angela is saying, “Drillen, baby, drillen.”

petunia on March 20, 2014 at 6:46 PM

It would be perfect medicine for Pooty if Red China ended up their only customer for natural gas, -the Chinese could then negotiate a bargain basement price that would barely keep the lights on in Pooty’s new empire.

slickwillie2001 on March 20, 2014 at 6:50 PM

everdiso on March 20, 2014 at 5:43 PM

Bridge…for sale…cheaply…

Schadenfreude on March 20, 2014 at 7:02 PM

Keep in mind the previous Chancellor of Germany, Gerhard Schroeder, is the board chairman for a Russian-German gas pipeline that he championed while in office.

Schroeder is bought and paid for by Putin.
http://www.washingtonpost.com/wp-dyn/content/article/2005/12/09/AR2005120901755.html

Schroeder signed the gas deal with Putin and 3 months after he lost the election Schroeder signed on with Putin.

You see anyone in Germany asking the former chancellor to resign his Russian job?

albill on March 20, 2014 at 7:03 PM

Why is all this happening?
Because Vladimir Putin took the measure of Barack Obama and found him lacking.
BobMbx on March 20, 2014 at 5:37 PM

That’s what happens when you have to use imaginary numbers to take measurements.

Marcola on March 20, 2014 at 7:08 PM

Germany fracking? Uh, no.
“New German government would put moratorium on fracking…”

Merkel’s biggest failure is in her short-sighted, economy killing energy policies.
First she kills off the nuclear power plants and thinks wind and solar will take up the slack. In the meantime all wind and solar companies have gone belly up for lack of revenue.
Electricity prices have gone up 400% in the last 6 years and soon manufacturing will be leaving Germany to find cheaper power.

Total failure by Merkel. She is not a strategic thinker, but a mother hen of bureaucracy.

albill on March 20, 2014 at 7:10 PM

To Putin, G8 is just another veggie drink. He doesn’t like veggies, anyway. I suggest as an alternative that we run a hose from O’s mouth to Germany and tell him to make another speech.

vnvet on March 20, 2014 at 7:14 PM

And then this German act of genius:
2 Russian Oligarchs in $7 Billion Deal for a German Oil Company

“German utility RWE has said it will sell its oil and gas unit DEA to investment fund LetterOne. The Luxembourg-based fund is owned by a Russian oligarch, but RWE says it doesn’t expect Berlin to object to the deal. “

albill on March 20, 2014 at 7:18 PM

What an opportunity.

Create jobs, collect tax revenue from profits, stabilize the supply and price of oil and gas, strengthen ties with Europe and Canada, and weaken/halt the Russian advance all at same time! All he needs is a pen!

No way Obama is doing it.

Meremortal on March 20, 2014 at 7:23 PM

didn’t merkel sign stuff in late Jan to start developing more ng/lng domestically? I know germans have used fracking but were being restricted

dmacleo on March 20, 2014 at 7:28 PM

Germany, once again, determined drag the world into war.

Lee Jan on March 20, 2014 at 7:33 PM

The Euro-peons ought to simply buy their oil from, oh say, Iran or something…that’ll show that bass turd Putin….

bimmcorp on March 20, 2014 at 7:37 PM

Sarcasm?

Putin has gained a small slice of land – which he already controlled anyways – and has lost all economic credibility internationally.

His country has only one income source,and its already been drying up – and now he’s gone and scared away his best customers.

And he thinks he can scare them because he sources a quarter of their gas? That’s his stick?

Putin has just sacrificed everything he had in order to “gain” something he already had.

What a colossal **** up on his part.

everdiso on March 20, 2014 at 5:51 PM

When Germany and everyone else in Europe give up Russian gas, you might have an argument. Until then, not so much.

Resist We Much on March 20, 2014 at 7:45 PM

History will show barry more culpable for the next World War, than Chamberlain was for the second one.

History will tell us the future; we have but to listen.

Unfortunately for the whole World…the smiling, smug little jackass in the People’s House is too busy running his lying, socialist little sewer, to hear anything but his own bullshit.

And now, as always, Germany is lighting the fuse.

a5minmajor on March 20, 2014 at 8:16 PM

My apologies, I assumed you weren’t an idiot.

rotf

Axe on March 20, 2014 at 8:19 PM

No worries. Merkel and 0bama will visit Putin for negotiations and will come back with an announcement for “peace in our time.”

pedestrian on March 20, 2014 at 9:26 PM

Watching Europe eat it’s own makes me feel that maybe we should be cheering for Russia.

KMC1 on March 20, 2014 at 9:36 PM

Let’s not bury the lede, here: Merkel is pulling Obama’s chestnuts out of the fire. She’s taking the lead in the absence of any real American leadership.

Paul_in_NJ on March 20, 2014 at 10:15 PM

albill on March 20, 2014 at 7:18 PM

The oligarchs are trying to move their money out of Russia the Soviet Union.

unclesmrgol on March 21, 2014 at 1:24 AM