Thursday, December 4, 2014

Fracked Up for the Future

By Arnie Zemzow


US Senator John McCain declared the United States can begin deliveries of liquefied natural gas to Europe before 2020, as reported by Thomson Reuters.

McCain was openly pleased with the breakdown of construction of the project "South Stream” – a discontinued effort to channel more Russian gas into Europe whose failure was abetted by the Ukrainian crisis. According to Republican Senator, he himself put a lot of effort into this development, eventually persuading the Bulgarian government to count on Europe in terms of energy interests of the country and to cease cooperation with Russia. Furthermore, McCain proposed to establish a supply of liquefied gas to Europe from the United States.

Hello Ladies....
 

In June 2014, McCain and four other Republican senators introduced a bill in Congress called the "Act on the Energy Security of the North Atlantic." The bill proposes the acceleration of the process of issuing licenses for fracking system and eliminating unnecessary bureaucracy for gas companies. The Department of Energy proposed to immediately approve the export of liquefied natural gas to Ukraine, Japan, and US allies in NATO. According to the authors, the new law will help the US get rid of excess gas, which is destructive to US energy systems due to lack of pipelines, and at the same time to strengthen the Russian economy and reduce Europe's dependence on Russian gas.

Russian President Vladimir Putin said on December 1 Russia's final withdrawal from "South Stream". The project worth 15.5 billion Euros was designed for delivery to Europe 67 billion cubic meters of gas per year. It was planned that the pipe would pass through the Black Sea and through Bulgaria, Serbia, Hungary, Austria, Italy and Slovenia. The desire to participate in the new project was echoed by Turkey and Macedonia.


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