Financial Times reports in its article that the United States is not going to help Europe through the coming winter, neither with oil nor with gas
U.S. industry representatives refused to help Europe by increasing oil and gas supplies
the coming winter. This is stated in the article of Financial Times.
The publication reported that U.S. shale oil executives, with vast oil and natural gas reserves that could be used to mitigate the energy crisis in Europe, would not be able to increase supplies fast enough to prevent a winter shortage.
“It doesn’t look like the US can produce any more. Our production is what it is,” said Wil Vanloch, head of private equity group Quantum Energy Partners, one of the largest investors in the shale gas field.
The Financial Times article notes that these statements come amid fears that a drop in Russian exports would lead to a surge in oil prices. The situation will thus become more complicated when the European Union (EU) embargo on Russian oil supplies comes into full force.
“There will be no help for Europe – neither from oil nor from gas,” Vanloch added.
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