Tuesday, November 30, 2021

Australian is denied access to pension savings which he needs to meet daily living expenses. Government ended citizens' emergency withdrawal of pension funds on 12/31/2020

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Only those who were unemployed, eligible for some welfare payments, or had their hours or sole trade income reduced by 20 per cent were eligible.”…Throughout 2020 the Australian government allowed Covid emergency pension withdrawals for those who qualified. The program ended on Dec. 31, 2020:

11/28/21, This week in the New Normal #13," Off Guardian

Among comments: An Australian finds he’s blocked from accessing pension savings he hoped to use for living expenses:

“Gezzah Potts Nov 29, 2021 2:24 PM Reply to  Tim Drayton

…Yes, the screws are definitely being tightened, and pretty much all of us refuseniks are in the same boat. Thankfully, here in Melbourne, for now, the unvaccinated are still allowed to go into supermarkets without a vaccine passport (app) tho how much longer that lasts, I don’t know? However we are banned from working here….

Not sure how long I’ll have a roof over my head now as I found out today that the last financial card I thought I had left up my sleeve is a complete dud. Denied access to a pension fund that would have kept me afloat another year or so. A lot of people have already lost their homes because of this bullshit scam….

I’ve also tried to support small businesses here, and unlike a lot of places, nearly all of them actually look the other way when I walk in – no QR code, no mask, and they don’t even blink. Have only had a person at one bakery, and two bank security guards all year ask me to put on a mask and scan the QR code. Which I refused.

But they are ramping things up now, and the Victorian Govt’s shocking pandemic legislation is due to be debated this week.

Up to 2 years jail and a $45600 fine for disobeying covid directives. Right when Omicron has come on the scene.”…

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Added: Only those who were unemployed, eligible for some welfare payments, or had their hours or sole trade income reduced by 20 per cent were eligible.”Throughout 2020 the Australian government allowed Covid emergency pension withdrawals for those who qualified. The program ended on Dec. 31, 2020:

12/29/2020, Super release slows but almost 3 million Australians have sucked billions from retirement savings," Australia Broadcasting, S. Borys, J. Snape

“The controversial coronavirus measure allowing Australians affected by the pandemic to tap into their retirement savings will close from New Year’s Day [Jan. 1, 2021].

Key points:

But not before nearly 3 million people have taken a total of $36 billion out of their super accounts, according to figures provided by the ATO.

Treasury had initially estimated $29.5 billion would be accessed but then extended the scheme until the end of the year, in light of Victoria’s second coronavirus lockdown.

By the end of June [2020], just over $20 billion had already been withdrawn and in July, Treasury estimated $42 billion would be accessed under the scheme.

The final total is set to come in below that figure, indicating use of the scheme slowed in the second half of the year.

The ABC reported in September [2020] that more than a quarter of people who accessed superannuation under the early release scheme made their decision within a day.

Critics argue those withdrawing their money now to meet short-term financial needs sacrifice long-term compound interest on their superannuation balance that may contribute to a more comfortable retirement.

Eligibility concerns

Soon after the scheme’s introduction in April [2020], the Federal Police began investigating attempts to defraud the scheme.

The ATO confirmed no penalties have been imposed to date.

Only those who were unemployed, eligible for some welfare payments, or had their hours or sole trade income reduced by 20 per cent were eligible.”…

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Added: Off Guardian commenter in Cyprus replies to Melbourne commenter above regarding upcoming Pandemic bills:

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Monday, November 29, 2021

Longtime RNC official Henry Barbour marvels that formerly anti-Establishment Trump has breathed “new life into the party” by merging Republican fundraising into WinRed-NY Times

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““It is completely, thoroughly ironic that Trump, who ran [in 2016] against anything to do with the R.N.C. and the establishment, is the guy who is breathing new life into the party,” said WinRed’s chairman, Henry Barbour….Mr. Barbour is also chairman of the other central pillar of the Republican machine, Data Trust.”…Henry Barbour has been a Republican National Committee official since 2005. He is also a lobbyist for Capitol Resources LLC.

3/9/20, 12/24/20,How [Trump merged with the RNC] Trump Campaign Took Over the G.O.P.,” NY Times, Danny Hakim, Glenn Thrush, Washington

“Working under the aegis of Jared Kushner, the president’s son-in-law, with the cooperation of…the Republican National Committee, the operatives have consolidated power–and made money–in a way not possible in an earlier, more transparent analog era….

A fierce pressure campaign to centralize fund-raising on the new platform, a for-profit company that Mr. Trump branded WinRed, brought dissent from candidates initially reluctant to sign on, as well as competitors who believed they were being pushed aside without a fair hearing….

It is completely, thoroughly ironic that Trump, who ran [in 2016] against anything to do with the R.N.C. and the establishment, is the guy who is breathing new life into the party,” said WinRed’s chairman, Henry Barbour. Perhaps no one better represents the new outside-in reality than Mr. Barbour-nephew of the former Republican Party chairman Haley Barbour-who once said it would be “very hard” to vote for Mr. Trump.

The younger Mr. Barbour is also chairman of the other central pillar of the Republican machine, Data Trust…a private company controlled by a board of Republican grandees,… a storehouse of personal, commercial and demographic voter data collected from state parties and voter files or bought from data brokers (or from WinRed, itself a vital source of donor information)….

[7/15/2020, Jared is campaign manager. Parscale merely carries out Jared’s orders. “Peter Alexander@PeterAlexander, NBC News, Jared Kushner was the campaign manager yesterday, is the campaign manager today and will be the campaign manager tomorrow.”]

(continuing): “Mr. Parscale…and his associates have said that [for-profit] private companies give them greater operational flexibility, given the constraints of campaign-finance laws. (ActBlue, by contrast, is a nonprofit. Both entities, though, are required to disclose individual donors.)…

[Above image: 9/27/2020, Ft. Lauderdale, Brad Parscale pinned on ground by police. “Body Camera Captures Take Down Of Former Trump Campaign Manager Brad Parscale,” CBS Miami….CBS “reports Parscale was hospitalized for a mental health evaluation following the incident”] 
 
The Trump family looms over the whole operation, starting with Mr. Kushner. While his White House portfolio has variously encompassed everything from immigration to the Middle East, his most consistent assignment has been informal campaign chairman,

overseeing the most vital arm of

the new family business:

politics….

The R.N.C. moved to rebuild around Data Trust, which it had recently helped establish. The idea was compelling: If state and national party committees and campaigns fed information into one place…outside the party, fund-raising limits would not apply. Contractors were fired, and much of the R.N.C.’s data staff was moved into Data Trust, which effectively became an off-campus arm of the party….

Karl Rove, campaign manager and confidant to President George W. Bush, was an early backer of Data Trust and has been informally advising [Jared’s subordinate] Mr. Parscale. He wrote in a recent Wall Street Journal op-ed that technology had played a critical role in battleground states, adding, “Data Trust was a big reason why Donald Trump won the 2016 election.”

Building a Cash Machine…

Republicans had fund-raising tools, but by coalescing around a single vendor...candidates could raise money jointly and more easily share data on contributors....To Mr. Kushner…only one vendor was acceptable, according to several people with knowledge of the deliberations: a company called Revv which had already been processing payments for the [2020 Trump] campaign.

Revv had been co-founded by Mr. Lansing, who was well regarded as a tech-savvy operator….But in 2017, Politico reported that, after taking over as the R.N.C.’s digital director the year before, he had encouraged Republican campaigns to use Revv, earning a $909,000 payout from the company. Some party veterans viewed this as self-dealing.

By the summer of 2019, WinRed was created atop Revv’s platform….The new company was a joint venture between Revv and Data Trust, with 60 percent of profits going to Revv. (WinRed charges campaigns 3.8 percent, plus 30 cents per credit card transaction.)…

WinRed became ascendant, and this time the Trump team and Senate Republicans joined in a pressure campaign to convert holdouts. Mr. McConnell told colleagues at a lunch in mid-2019 that his personal goal was to “shut down all the competitors,” according to one senator who was surprised at the majority leader’s directness. The party even sent a cease-and-desist letter to one of the losing contenders, Anedot, instructing it to remove G.O.P. logos from solicitations.

With or without a stake in WinRed, key aides have positioned themselves at the center of a formidable political machine. Ms. Walsh-Shields’s consulting firm receives a $25,000-a-month R.N.C. retainer and 1 to 5 percent of money it raises for the party’s 2020 convention. Mr. Shields’s firm, Convergence Media, represents clients ranging from the National Republican Congressional Committee to Representative Devin Nunes of California….

Most Republican officeholders have succumbed to the WinRed pressure campaign. One late convert was [Establishment] Senator Thom Tillis of North Carolina, who learned the power of being linked to Mr. Trump’s money machine when WinRed unexpectedly sent out a joint fund-raising appeal that brought in a “six-figure sum in a single day, which is huge in a down-ballot race,said Tim Cameron, a Tillis adviser and former digital director at the Republican senatorial committee.

Without Mr. Trump’s victory, “there’d be nothing at the scale of WinRed,” he said. “All of a sudden, it’s one election, and we have the upper hand.""

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Added: Trump donors 6/7/2019  and 9/17/21 (generic link) had not yet realized that Trump merged with RNC. These donors despise the RNC, would never give them a penny, and are fearful RNC is getting a cut from Trump donations. Comments from 6/7/2019 on Free Republic and 9/17/21 (screen shot below) from The Conservative Treehouse:

Posted 6/7/2019 on Free Republic

“Question: To Donate or Not to Donate to RNC?
Posted on 6/7/2019, 1:47:43 AM by Be Careful

In years past, I have refused to contribute one penny to the RNC. I did contribute heavily to the Trump Campaign. Lately, I have been getting texts from “Trump” or “Melania” asking me to donate to Trump Re-Election…(‘text yes to reply’.)…and, I text ‘yes’….only to see a charge to my credit card that posts to the RNC….Did the Trump Campaign give the RNC my info?I have seriously mixed feelings about this….I still do not trust the RNC.....Question: does donating to the RNC help Trump’s fundraising prowess, thereby helping him continue to claim the Republican mantle?….Or, does contributing to the RNC only enable the McConnell-Romney-McCain wing? Looking forward to everyone’s thoughts.”

…………………….

“To: Be Careful

Don’t. Contribute directly to real conservatives. Screw the RNC.

13 posted on 6/7/2019, 3:15:06 AM by piytar”

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Second example: 9/17/21, The Conservative Treehouse, Two commenters, "Dan Defense" would "never donate" to RNC; "Barb" won’t “ever” donate via WinRed if RNC gets a cut: Screen shot below, text posted below screen shot:
 

 

Above 9/17/21 screen shot from Conservative Treehouse. Below is text from two comments on screen shot. This is generic link to site, I’ll post direct link to 9/17/21 screen shot when Iocate it.

"Dan Defense:"

“Christie and Rove are but two of the many reasons I will never donate, support, or even acknowledge the RNC, but instead donate directly to individual candidates.”….

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"Barb:"

“Does the RNC take a cut of those private donations? I will not donate via the WinRed ever.”…

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Added: 4/1/2021, ”The $2.2 billion that WinRed reported in contributions for candidates and political committees to the Federal Election Commission for 2019 and 2020 would have generated at least $88 million in revenue at that formula, likely resulting in about $29 million in profits.... "GOP Firm Tied To Trump-Endorsed WinRed Fundraiser Tool At Center Of Minnesota Dispute," Huffpost.com, S.V. Date, "A Minnesota member has raised a stink within the RNC over half of the state party’s online fundraising total flowing to a D.C.-based consultant as commissions."

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From blog editor: Re: 9/17/21 screen shot from The Conservative Treehouse, I’ll post direct link to screen shot when I locate it.

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Wednesday, November 24, 2021

No offense Pres. Putin, US empire’s #1 enemy is US taxpayers who had to be silenced and enslaved in a lawless, open borders cesspool before US could “export democracy” globally at gunpoint-Justin Raimondo

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“Even as they put on a great show of “liberating” foreign peoples, to “export” democracy to the four corners of the globe, at gunpoint…they are in the process of enslaving the American people, and destroying the remnants of the Constitution.”…

March 19, 2003, Shine, Perishing Republic: Kiss the good old USA good-bye, say hello to the American Empire,” by Justin Raimondo, Antiwar.com

“A future of endless conflicts, perpetual war for perpetual peace, and color-coded terror unto infinity – that is what we have to look forward to….

Our old Republic, once the enemy of kings and contemptuous of empires, is now donning the imperial purple….[Its rulers speak] of “liberation” when they mean conquest;…say “freedom” to signify subjugation, can commit war crimes and still call for the prosecution of war criminals, can do the Devil’s work and still invoke almighty God….

But their revolution is not directed primarily against foreign tyrants: for even as they put on a great show of “liberating” foreign peoples, they are in the process of enslaving the American people, and destroying the remnants of the Constitution….

The America we loved is lost, perhaps forever. That is the meaning of this [2003 Iraq] war. The republic that bound its rulers with the chains of the Constitution and freed the rest of us to live in peace is no more….They invoke “Americanism” to implement the most anti-American agenda imaginable….They seek to “export” democracy to the four corners of the globe, at gunpoint….

The era of the American Republic is over, and age of Empire is begun.”…

 

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Saturday, November 20, 2021

UK is forced to rely on natural gas and coal due to lack of wind. Further, a strike in France has reduced usual energy export to UK-Bloomberg, Times, FT

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Lack of wind in UK has forced reliance on natural gas and coal. Additionally, a strike in France has reduced exports to Britain along two interconnectors. A “limit on flows through the North Sea Link, that has been reduced to half capacity since Oct. 1, was extended to Thursday.”...Britain gets only 5% of its natural gas from Russia.

11/15/21, U.K. Power Prices Soar Above £2,000 on Low Winds,” Bloomberg

Some coal and gas power stations in Britain were paid double the price of exchange-traded electricity to help plug a gap left by a drop in wind generation on Monday.

Two coal-fired units at Uniper SE’s Ratcliffe station got more than 3,200 pounds ($4,295) a megawatt-hour while four gas units received 3,500 pounds. Intraday power in the U.K. soared to 1,500 pounds for the half-hour to 6:30 p.m. on the Epex Spot exchange, with wind-power generation falling to the lowest level in 56 days. Prices for Monday were almost double the average day-ahead rate for this year.

Britain is set to end the use of coal within three years and make power generation free of fossil fuel by 2035. But for now it falls back on high-emission coal when wind drops or demand increases. Wind generation on Monday was meeting just 6% of total demand, National Grid data show, while gas contributed 55% and coal 2%. 

It’s Finally Getting Cold and Europe Doesn’t Have Enough Gas…

A strained power situation in the rest of Europe is also limiting export capacity to the U.K. French day-ahead power prices rose as a strike lowered output on Monday, while prices in Germany increased to the highest level since Oct. 6.

The strike has cut output from Electricite de France SA’s generation fleet by about 2 gigawatts. That will reduce the amount of supply that can be exported to Britain along two key interconnectors. A limit on flows through the North Sea Link, that has been reduced to half capacity since Oct. 1, was extended to Thursday. The fault has delayed a ramp up to 1,050 megawatt that was planned for later this week.”…

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Added: Low wind speeds in UK force reliance on natural gas and coal. Britain’s wind farms contributed just over 4 per cent of electricity on Monday, Nov. 15.

11/15/21,UK peak power prices rise to second highest level since 2018,” Financial Times, ElectricityForum.com, London, Nathalie Thomas

Low wind speeds increase reliance on gas generation, with coal plants also brought back into action.

“Low wind speeds pushed peak hour power prices to the second highest level for at least three years on Monday as Britain’s grid was forced to increase its reliance on gas-fired power plants and draw on coal generation.

Calm weather this year has exacerbated the energy price crisis in the UK, as gas-fired power stations have had to pick up the slack from wind farms….

Power prices in the UK for the peak evening period between 5pm and 6pm on Monday surpassed £2,000 per megawatt hour, only the second time they have exceeded that level in recent years.

This was still below the levels reached at the height of the gas price crisis in mid-September [2021], when they hit £2,500/MWh, according to the energy consultancy Cornwall Insight, whose records date back to 2018….

Despite the expansion of renewables, such as wind and solar, over the past decade, gas remains the single biggest source of electricity generation in Britain, typically accounting for nearly 40 per cent of output.

At lunchtime on Monday, gas-fired power plants were producing nearly 55 per cent of electricity, while coal accounted for 3 per cent. Britain’s wind farms were contributing…just over 4 per cent, according to data from the Drax Electrics Insights website….

National Grid, which manages the UK’s electricity grid, has been forced on a number of occasions in recent months to ask coal plants to fire up to help offset the loss of wind generation. The government announced in June that it planned to bring forward the closure of the remaining coal stations to the end of September 2024.

Ministers also committed this year to making Britain’s electricity grid “net zero carbon” by 2035, although some analysts have pointed out that would not signal the end of gas generation.

Since the start of the energy crisis in August [2021], 20 energy suppliers have gone bust as they have struggled to secure the electricity and gas needed to supply customers at record wholesale prices, with further failures expected in coming weeks….

Energy companies including Orsted of Denmark and SSE of the UK have reported some of the lowest wind speeds for at least two decades this year.

According to weather modelling group Vortex, the strength of the wind blowing across northern Europe has fallen by as much as 15 per cent on average in places this year.”…

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Added: The French strike has reduced exports to Britain along two key interconnectors.

11/16/21, “Power prices surge after low winds cause shortfall," UK Times, Times Business Reporter

“Low wind speeds pushed UK power prices to the second-highest level on record yesterday, forcing the grid to switch to gas-fired power plants and draw on coal generation.

Prices for the hour between 5pm and 6pm rose to £2,000.01 per megawatt-hour in the N2EX day-ahead auction for Monday, with wind-power generation falling to the lowest level for 56 days, according to Bloomberg. Coal plants were picking up some of the shortfall but a strike in France is further limiting supplies.

The French strike has cut output from Électricité de France’s generation fleet by about two gigawatts. This will reduce the amount of supply that can be exported to Britain along two key interconnectors. A limit on flows through the North Sea Link, which has been”…(subscription)

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Added: Britain gets only 5% of its natural gas from Russia: 

10/18/21, BBC: “The UK’s gas storage is currently at full capacitybut Russia only provides about 5% of the country’s usage, so it’s less reliant on Russian imports than other European countries....Russia supplies about 50% of the EU’s natural gas imports. Most of the rest comes from Norway and Algeria.” Chart below from BBC

“What’s happened to stocks in Europe? 
 
Gas storage across Europe is well below the 10-year average, with levels currently at about 75% of storage capacity, according to Gas Infrastructure Europe data.

Russia’s own gas storage is also down.

Adeline Van Houtte, a Europe analyst at the Economist’s Intelligence Unit, says: “Currently, the Russian domestic gas market remains tight, with output already near its peak and winter is looming...limiting gas export capacity.”

There are several other factors affecting the situation in Europe, such as:

*cold weather at the start of 2021 depleting stocks

*rising prices in spring and summer put traders off buying to sell later in the year

*limited supply from Norway because of maintenance issues

*reduction in other energy sources such as wind power

*growing demand for gas elsewhere in the world.”…

10/18/21, Europe gas prices: How far is Russia responsible [if at all]?" BBC, By Jake Horton

Gas storage across Europe is well below the 10-year average, with levels currently at about 75% of storage capacity, according to Gas Infrastructure Europe data.”

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Added: Excerpts from 10/13/21, “Russian Energy Week International Forum plenary session:”

“Vladimir Putin took part in the plenary session of the Russian Energy Week International Forum. The panel discussion topic is Global Energy: Transformation for Development.”…

[Pres. Putin]: “Over the past 10 years, the share of renewable energy sources in the European energy balance has skyrocketed, which, on the face of it, appears to be a good thing – and they are now playing a significant and noticeable part. What can you say? It is a good thing any way you look at it.

However, this sector is notorious for erratic power generation. It requires large reserve capacities. In the event of major generation failures, primarily due to bad weather, this reserve is simply not large enough to cover the demand.

This is exactly what happened this year, when, due to a decrease in wind farm generation, there was a shortage of electricity on the European market. Prices soared, which triggered a spike in natural gas prices on the spot market.

Importantly, gas consumption is seasonal. Its reserves are traditionally replenished in the summer to meet the winter demand. However, this year, even after a cold winter in Europe, many countries chose not to do so, relying on spot gas supplies and the “invisible hand” of the market, but a spike in demand has sent prices even higher.

To reiterate, the rise in natural gas prices in Europe stemmed from shortages of electricity, not the other way around. There is no need to lay the blame on other people, which is what some of our partners are trying to do. Occasionally, you get stunned by what is being said on this account, as if these people do not know the numbers – I will say more about this later – as if they do not see the reality and are just covering up their own mistakes. Systemic flaws have been gradually introduced in European energy over the past decade, which led to a major market crisis in Europe.

As a reminder, when nuclear and natural gas-based generation were the leading energy sources, there were no such crises, and there were no grounds for them.

Thankfully, problems of this kind have no place in Russia. A long-term approach to the fuel and energy complex allows us to set Europe’s lowest residential and industrial electricity rates….

The growth of rates in our country is limited and is strictly regulated, which is not the case in European countries, where, due to an increase in the cost of power generation, utilities bills have been climbing almost every month recently. I have these numbers on my fact sheet, but I am not going to bore you with the details now.

I would like to say a few more words about the gas market situation. You often hear that high listings are good for raw materials producers allowing them to see super-profits without making any visible effort.

However, those defending this position do not understand what they are talking about; they prefer not to look ahead, and are slow to take into consideration the long-term implications. But these implications are clear, including for the industry: the dramatic, repeated surge in energy prices influences business, the economy, and the utilities sector during periods of drastically increased costs; many businesses are forced to cut energy consumption and reduce production volumes. This means that high prices can ultimately have negative consequences for everyone, including producers. Russian producers, including those in this room, are well aware of this.

Stability and predictability are important in any market. Russia fulfils its contractual obligations to our partners in full, including its partners in Europe, ensuring guaranteed, uninterrupted gas supplies in this direction. We are seeing conditions that will result in record high volumes of gas distribution to the global market by year end. Moreover, we are always willing to meet our partners halfway and are ready to discuss additional actions.

We consistently work to strengthen the energy security of the entire European continent. Major infrastructural projects – Turk Stream, Balkan Stream, Nord Stream 1 and Nord Stream 2 – are being implemented jointly with European companies, our partners and friends. Their task is to ensure, for years ahead, the stability and predictability of gas availability in the amounts needed by the European countries. I would like to add that the implementation of these projects is leading to a considerable – by several orders of magnitude – reduction in greenhouse gas emission. Just for your information: the carbon intensity of Russian natural gas distribution along the Nord Stream 1 pipeline is 66.7 percent lower than that of US LNG. I am saying this just to compare.

At the same time, we now need to come to terms regarding the global mechanisms to balance the energy market. We should launch a meaningful, substantive dialogue between energy producers and consumers on this issue, a dialogue free of political bias and imposed clichés. We are talking about extremely important matters, which directly influence the functioning of business and organizations, as well as the wellbeing of households and millions of people both in Russia and in our partner countries, including those in Europe. I am confident that this dialogue can help find solutions that take into account market trends and the interests of all sides….

Friends,The consequences of the pandemic and the shakeup of the regional energy markets have shown once again how important it is to ensure the stable, confident performance of the fuel-and-energy sector for the modern world and to supply consumers with affordable energy with minimal impact on the environment.

All participants in the market – both producers and consumers – must take balanced and responsible action to ensure the world’s energy and environmental security. They should tailor these actions to the long-term perspective in the interests of the sustainable development of our countries and the prosperity of our people.

Russia is ready for such constructive, trustworthy and close cooperation, including a direct dialogue with our partners in Europe and with the European Commission….I am confident that we will definitely achieve results in resolving these difficult issues.

Thank you for your attention.”

“Plenary session [US] moderator Hadley Gamble: Mr President, in your remarks, you just were mentioning about what is happening in the gas crisis.I want to ask you about it directly. Has Russia been using energy as a weapon?

Vladimir Putin: Russia is not using any weapons at all, if you have noticed. With regard to the economy, where would we be using weapons? What conflicts are we participating in? This is absolutely out of the question when it comes to the economy. Even during the most complicated Cold War periods, Russia fully complied with its contractual obligations and supplied gas to Europe. By the way, back then your compatriots in the United States were also opposed to a pipeline for this gas project. The leadership of the Federal Republic of Germany at that time was successful in having its own way and saw this project through to the end. It is still operating and is a part of Europe’s energy balance.

The weaponising of energy is nothing but politically-driven and entirely groundless bloviation….

We are increasing supplies to Europe even amid today’s conditions that are challenging for us. Gazprom has increased gas supplies to Europe by about 10 percent, and gas supplies to Europe have increased by about 15 percent including LNG, because LNG has increased to about 13–14 percent. We are ready to keep doing so. Importantly, our companies have never, not once, refused to meet our partners’ requests to increase supplies. Even during the challenging autumn-winter periods in recent years, when our partners asked us to increase supplies even in excess of our contractual obligations, we have always done so and are doing so now. We supply as much gas as our partners ask for.

I would also like to draw your attention to another circumstance, where supplies of, say, US LNG went from Europe to Asia when prices changed accordingly. Of the total shortage of LNG supplies to the European market, which is over 14 billion cubic metres in terms of LNG, about half had been undersupplied by US companies.

So, who is weaponising energy? Is it us or someone else? We are increasing our supplies to Europe, and our partners from other countries, including the United States, are decreasing supplies to Europe. This is open information. All you need to do is go online and see for yourself, everything is there. And you are talking about Russia being accused of weaponising energy resources. This is complete nonsense and politically-driven chatter, which has no substance behind it. This is how things are in general….

The Americans have introduced sanctions in the energy sector. What have they achieved? ExxonMobil has withdrawn from profitable contracts, stopped its participation in them with one exception for a contract in the Far East, which it has been part of for a very long time. So, who has gained anything? Nobody has gained anything. Gas prices have skyrocketed and the Americans have to suffer from some events that took place in the oil market. The result is not just zero but negative for those who are doing this. I hope the realisation that this policy has no future will eventually prevail and we will be able to gradually restore our relations….

Vladimir Putin: Let us look at what is going on without any political clichés. You mentioned Russia’s willingness to increase energy supplies to Europe and the rest of the world. So, do you want us to increase them or not? If you do, then we need to produce it. Or do you not? Electricity does not come from a power outlet; we need a primary source of energy to produce it in order to meet the growing needs of Russia and the global energy market.

Now let us face reality. We have increased not only gas supplies, but we have also increased coal supplies to the global market by 8 percent in both directions – to the East and to the West – and to Europe as well. Production increased by about 8.5 percent, and our exports grew by 8 percent….

You know that, say, car producers are being compelled to switch to electric vehicles. Well, this is because automobile transport is a major polluter. We know this….But what is the primary source? As I have already said, electricity does not just come out of the socket. In the Federal Republic of Germany, for one, coal generation amounts to 35 percent in the energy balance; 30, 33, 35 percent is coal generation that releases the most CO2 emissions in the air. Make all the electric vehicles you want, but coal generation at power plants will contribute to higher emissions. Meanwhile, the effects of gas are not as bad. But understand, you have to look professionally at all these issues….

Hadley Gamble: The Europeans [allegedly] have a trust deficit with Russia, and it is not just because of this current crisis in the gas market. It is also, [allegedly] of course, the massing of 80,000–100,000 Russian troops on the Ukrainian border.

At what point do you believe that you will solve these issues with your European partners? Because it requires dialogue. Would you be willing to talk to NATO directly?

Vladimir Putin: Yes, we are ready to deal with NATO directly as well.

As for our troops, they are on Russian territory. We held the Zapad 2021 military exercises quite recently. This is true. These are large exercises and we conducted them on our territory.

Our so-called partners from America also hold such large-scale exercises but they do it thousands of kilometres away from their national territory. After all, we did not come to the suburbs of Washington or New York to conduct drills. They came to us and conduced them at our borders. How should we react to this? Let me repeat that we hold exercises on our national territory. There is nothing surprising in this and we are not going to explain ourselves to anyone over it.

In effect, our partners are themselves destroying all prior agreements, including those on confidence-building measures in Europe. This concerns the eastward expansion, as I have already said many times. This also concerns the extreme imbalances in the Baltic states, whose armed forces are not counted anywhere, and so on and so forth.

We are not violating anything, not a thing. We did not withdraw from the ABM Treaty or the INF Treaty. We did not walk away from the Open Skies Treaty. It was not us who did it – this was done by our American partners. But to avoid responsibility, they lay the blame on us, while the media blows up the story in the interests of whoever is paying. That is all. Nothing surprising is happening in the world. However, we will do what we deem necessary while protecting our interests and ensuring our security.

I assume that…

Hadley Gamble: Is that why you have developed a hypersonic missile that flies at Mach 3 and is precision guided?

Vladimir Putin: No, Mach 3 or even greater is being developed in the United States. Our system travels at a speed of over Mach 20. These are not just hypersonic, but intercontinental missiles. This is a much more serious weapon than you just said. They have been put on combat duty in Russia. Other countries are developing similar systems. There is nothing unusual about it, and high-tech armies around the world will have such systems soon. There is nothing unusual about it.

Please note that, while having such systems and having for the first time in history outperformed our main competitors in high-tech weapons systems, in this case, the United States, we are not abusing this advantage and are not threatening anyone. Furthermore, we are willing to talk about the reduction of offensive arms. And based on the assumption that our US partners are interested, we are willing to keep in mind that we have such systems and, one way or another, take this circumstance into account during the negotiating process.

There is no need to build up pressure. All we need to do is stop the idle chatter and sit down for a substantive discussion on this subject. As we can see, the current administration is gradually embarking on this path, and our contacts to this end have been expanding, by the way, since I met with President Biden in Geneva.

Hadley Gamble: This isn’t the beginning of an arms race?

Vladimir Putin: I must admit that the arms race is already underway, unfortunately. It began after the United States withdrew from the ABM Treaty. Please note what I said to our partners back in 2003: do not do this, please do not withdraw from the ABM Treaty. It is a fundamental thing, a cornerstone of international security.

What is missile defence about? It is not just defence, but an attempt to gain strategic advantages by neutralising the nuclear capacity of a potential adversary, that is, us. How are we supposed to respond? I have said it many times before and, if you are interested, I can say it again: we either need to create a similar system with unknown effectiveness which will cost us a fortune or create a different system which will certainly be able to overwhelm missile defence. I said back then that we would create it. Our US partners had the following to say back then:

our missile defence system is not directed against you, so you do whatever you want, and we will operate on the assumption that it is not directed against us. That is what we did, so what now? Now, they do not like it. Now they say: oh, now you have this hypersonic weapon. Well, you do not like it, but we did not like it when you withdrew from the ABM Treaty, either. We are not the ones who started this, but we are now ready to keep in mind the objective circumstances and to conduct a constructive dialogue to this end….

Do not worry about us and better think about yourself and what is going on at your home….

Vladimir Putin: I would like to thank our moderator who, I believe, has created a certain atmosphere and our colleagues and friends from energy companies for taking part in our work. They did this despite their very busy schedules. They work not only in their own countries but also all over the world, since these are global companies and they have schedules for travelling around the world. I am hoping that those who are with us via videoconference and those in this hall will continue working productively as in previous years despite all the difficulties that we are facing today in the global energy industry.

I would like to assure you that on our part, the Government of the Russian Federation and yours truly will do all we can to create for you the necessary conditions to work in Russia. This work will conform to the highest environmental standards while also yielding maximum economic benefits for your companies. We have already done much in previous years. I am confident that we will soon do even more in the interests of the global energy industry and the countries where we work.

Thank you for taking part in our work today. Thank you very much.”

Above from:

10/13/21,Russian Energy Week International Forum plenary session"

“Vladimir Putin took part in the plenary session of the Russian Energy Week International Forum. The panel discussion topic is Global Energy: Transformation for Development.”

 

 

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