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Jeff @ themarketswork @themarketswork
, 28 tweets, 4 min read Read on Twitter
Meanwhile at NATO.
President Trump: You're not dealing with Russia. You're making Russia richer.
God these people are idiots,
Well, that didn't take long.
I always find this argument that President Trump is in Putin's pocket the height of economic ignorance.
President Trump has made Energy Independence on of our nation's top goals.
President Trump campaigned on energy independence for the United States.

He immediately followed through on those promises by signing the Energy Independence Policy Executive Order, which unleashed a wave of U.S. energy production.…
U.S. exports of light sweet crude from American shale production are increasing.
Light crude is more highly valued as it can be used to blend with heavier crudes – such as those from the Oil Sands production in Canada.
U.S. production is seen as a more reliable alternative to many other less stable oil-producing nations and importantly, reduces reliance on those same countries
And it’s not just oil. U.S. coal exports are up as well.
More importantly, the U.S. is moving rapidly towards becoming a net exporter of natural gas.
The U.S. delivered Liquefied Natural Gas (LNG) to Central Europe for the first time in June 2017. This was a significant event and allows Poland to reduce its near-100% reliance on Russian natural gas.…
The U.S. is still a very small player in the European LNG market. Russia is a primary supplier and is working on its Nord Stream 2 pipeline project.
There is also the Trans-Adriatic pipeline, which will carry Caspian gas from the Azeri Shah Deniz field to Europe. And, of course, Qatar, the world’s largest exporter of LNG.
But the incremental supply of LNG to Europe remains a significant event.

Natural gas is the energy source of choice for Europe. Any supply that reduces the European Union’s reliance on Russia is welcome.
The European Union is the world’s largest importer of energy.

The EU imports 53% of all the energy it consumes, at a cost of more than €1 billion per day. Energy also makes up more than 20% of total EU imports.
About one quarter of all the energy used in the EU is natural gas, and many EU countries import nearly all their supplies.
Many countries within the EU are also heavily reliant on a single supplier.

Including some that rely entirely on Russia for their natural gas.
Russia is the EU’s largest supplier of energy – and the largest supplier of natural gas. In 2015, Russia accounted for 35% of the EU’s natural gas imports.
Russia’s economy is predominantly dependent on exports of oil and natural gas.

More than two-thirds of Russia’s foreign income is derived from oil and gas exports
Russia became the world’s leading oil and natural gas exporter in 2015.

The country has overtaken Saudi Arabia in crude exports, and retained the top spot in exports of natural gas.

Three-quarters of Russia’s oil production went for export in 2015.
Again, Russia is the leading oil and gas supplier to Europe, accounting for 37 percent and 35 percent of European respective consumption.
The United States still imports more oil than it exports, in large part because many American refineries were designed for heavy crudes from Mexico, Venezuela and Canada.
But that dynamic is rapidly changing.
Forecasts are now calling for the U.S. to be a net exporter of energy as soon as 2020 – a position that was previously almost unthinkable.
Russia has already cut prices for natural gas with the opening of LNG terminals in Poland and Lithuania.
For those who still believe Putin wanted Trump to win, they might want to consider the ongoing economic fallout to Russia from Trump’s long-stated energy plans.
The ramifications flow beyond Russia. A weakened Russian economy also weakens the economies of those regimes supported by, and aligned with, Russia.
Economic leverage is an area in which President Trump has specific expertise.

As does Treasury Secretary Steve Mnuchin and Commerce Secretary Wilbur Ross.
Power is not purely military.

Power is also economic might and influence. The two are inexorably linked to the other.
"The U.S. will overtake Russia to become the world’s largest oil producer by 2023, accounting for most of the global growth in petroleum supplies."

This is the last thing – the absolute last thing – that Russia wants to occur.…
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