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Friday Night Acoustic: Tommy Emmanuel, "Drivetime"

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Dr Lizardo3/01/2014 10:00:47 am PST

re: #578 Fairly Sure I’m Still Obdicut

Thank you for having the self-respect and character to actually take a position. It’s sadly rare.

If we and the EU did what you suggest, Russia would almost certainly cut off gas supplies to Europe, as well as likewise seizing assets, etc. This would probably prompt an immediate world-wide recession. Do you think this is accurate?

Probably would. But it would hurt Russia quite badly as well. They are extremely reliant on gas sales to Europe. They could sustain that for a year or two, but not much beyond that.

Europe is trying it’s damnedest to diversify it’s gas sources; the Persian Pipeline (Iran to Europe via Turkey) is in the works, and it’s supposed to go online later this year, with any luck, that is. The Russians aren’t happy about it, as it’s projected to blow a $20 billion hole in their budget.