also coming up will liquefied natural gas health heat the lights on in europe this winter, or will it undermine efforts to mitigate climate change? and it's one thing to escape war, but you can't escape the downward spiral of a real estate market. when a conflict drags on like a ukraine, a correspondent checks out the frozen property that i've been fulfilled. let's do business with record high oil prices. consumers are feeling the pinch of the pump, but high prices approving a boon for oil companies as their latest earnings show. b, p said today it's 2nd quarter profit triple to over 9000000000 euros. several companies reported staggering profits last week. shell total energies. exxon mobil and chevron also posted blow out numbers. all these gains came as oil averaged, around a $114.00 a barrel. a surge, partly due to the warren cash market analyst craig harlem,

can tell us more. are these oil giants profiting from the war? they are, there's no doubt about that. they are making enormous profits. b, p today made it 2nd highest of a quarter profit shell few days ago announced this highest ever quarter of profit, so there's no doubt that they are benefiting. but that is always the case with these all companies. when all prices are high, they tend to make the most profits. when all price are extremely low, they all make billions of dollars in losses. a, it's just a fact of what business day are end. unfortunately, when all price height driven by $2.00 things, one is high demand, which is one and economy is thriving and then it will attract less attention and yields, terminal price are extremely high, is occasions like now when we do have on the supply and we have a war and ukraine, and people naturally find that much more difficult to tolerate. so, should these companies be made to pay up?

it's hard to say because i guess it depends on what you $1000.00 they so mean it's easy to say that a lot of money is being given to shareholders as a dividend, but of see among their shareholders is things like pension funds and things like that. so you don't want to punish the stock too much, but, and also you want the companies to be leading the green revolution. and ultimately, if we really want to transition away from russia and reliance on the, on the states that may be perceived as reliable of unsavory them, the green transition is going to be a huge part of that. and there's been a lot of talk in recent years by accelerating that green transition. so i think what we need to be doing is while they're making these massive profits, one of the things that we need to be doing is incentivizing them to use these huge profits to accelerate their own investments in green projects and hopefully transition everyone away from reliance on the likes of russia. what about a windfall tax then to ensure that happens or to at least help out consumers who are struggling to pay their energy bills?

yeah, i mean that's obviously wanting has been looked, i'm wanting that's actually been adopted eventually here in the u. k. but linked to that when full tax was obviously a tax incentive or an incentive to encourage more investments and encourage more of a green transition. so i think that's $11.00 thing that piece that we can look at and the countries obviously will be looking at. but it like say it is difficult because once you stop, where do you stop with these types of things? i guess. what are the industries one of the companies do you see is profiting from other people's, from other people struggling? and therefore you start imposing windfall taxes on other industries as well when they're making huge profits. and then the flip side, again, is what happens when they're making billions of dollars in, in losses. a couple years ago, the all price went into a negative trade territory, and there's no doubt, no one was feeling sorry for these all companies then. so it's all also about trying to find the right balance between seeing these extraordinary profits and trying to redistribute them in and farish possible manner. but also at the same time, not wanting to just take the profits and,

and let the companies to deal with the loss of children. and they'll take it all on the share price. and then that will be felt in a much broader sense and also affect their investment as well. which is we really do need them to be investing heavily in this green transition. if we are going to move ourselves towards carbon neutral and away from reliance on russia, ok will have to leave their craig earl. and thank you very much for bringing us up to date on the situation there with oil majors and a possible winful tax. well, moscow has been cutting the supply of gas to europe. energy prices are exploding, and the wants to become independent of russian gas, a pay to do this, it needs to cut demand and find other sources. the world's largest exporter of liquefied natural gas is a stray deal with $88000000.00 tons per year, followed by got time. germany recently agreed out agreed on an energy partnership with the m r at the u. s. export elite, 72000000 tons of a l. n g a year, well ahead of malaysia and 70 you countries like portugal and italy and spain

obtain large amounts from algeria. but to import liquefied natural gas infrastructure is needed. europe is setting up investments. it has a lot of catching up to do. germany is only now building its 1st failing g terminals. nonetheless, gas market analyst hi co lumen says germany is coping quite well with the current trickle of gas from russia. it still injection the storage facility is ongoing. main reasons that the state is supporting this injection or entitled a special entity to injections and sit there for quite a while. so we're not and really crisis models. but on the other hand, the very high prices, of course, a concern for everyone in the market and take your social concerns will future

economic development. what's going to be the case in the next few months? so when, when winter comes. yeah, i think it depends. of course, in some respects it depends on was on the weather, cold winter than the situation had become much more tight and dependent on whether or it's continuing to at least apply these 20 percent. why are nurturing one is supplying some wireless wire queen trends? not a thing as the main, these are the main factors until at least the end of the year. and from the beginning of 2023 and william penn, whether you really will be able to have in place at least 2 g terminals, which might be the sizes to have them and be able to secure really some additional lee for these tenants surprised some additional against germany that will, that would be extremely helping or having more or less

a situation that during q $120.00 again, i think whether this of and of course i think we still need of course as much demands reduction as possible. and of course, the very high prices are the best intended to save. guess the other thing is that l n g is harmful to the environment. so energy security in this case, trump's environmental concerns. of course, i think that will be an interesting issue for the, for the 2 journals, n g o already have raise concerns. in particular for every location that means the, the construction may face some resistance from and why mental n g o. so we'll see how that will come out. there is an energy passing law in germany that shows improved to overcome these resistance. but of course we still

have, we are in a legal state. that means we have of course, we have legal means to achieve ties. the center is one issue, and 2nd is of course everything that is related to the fucking gas because most of the energy that will come to germany will come from the us. but as things for the time being that there will be no really discussion about trucking. yes, i think if i still have city seconds, i would have some one additional point because there is one additional surprise source in europe. are there one or 2? this is indigenous production in the netherlands. i can potentially ramp up the gum reactions from growing from the running few. and again, there's a question how to balance environmental safety concerns for the for the population to more gas to prosecutors is balancing that social high hello. and thank

you very much for the analysis. great to have you on the show. your friends capital key experienced a real estate boom in the years before russia's full scale invasion. that was high demand, your prices surged, but now the sectors practically frozen over as dw funding for china reports keeps. skyline is full of new high rise buildings, a response to high demand. as more and more people moved here, over the past decade, they're simply warranting off apartments. and the mentality in ukraine is by don't trent. but it's mainly the middle class that can afford to buy real estate prices in keefe surged in recent years, but with the war can destruction and indiscriminate shelling. this building here was hit a few weeks ago. these brand new buildings are now only worth about half of their pre war value. they are located in hostile, which used to be

a growing neighborhood, the outskirts of keith. but it's been heavily shelled. most people have left for the pollutants on the rancor. everything is brand new here almost a wide, a bit of work was done. so i finished right before the war engine timor. luke golf, put his 2 bedroom apartment in house, jamal, for 120000 euros last year with financial support from his mother and relatives. due to the war timor lost his job as a sales manager, he needs money. but his apartment is not only worth about 70000 euros on my home toilet long people are only ready to buy an apartment. if the price is for example, 40 percent lower compared to pre war prices. mine sure. it's in the endo vina for the year, says you have to sell your home to solve all your other problems, but you don't want to do it because the price is incredibly low and on. the sco

millions face this dilemma, the longer team or weights, the more to price will likely drop through that. he says the war shattered many dreams. some ukrainians invested in construction projects that unknown hold. it's unclear when or if they will be finished. since may, it is possible to buy real estate again and to make a real bargain, but people have mixed feelings about the market. yet, i think that it is not a good idea to buy an apartment because the situation is unstable in ukraine. you? yes, if you have savings, i would buy an apartment because soon we will when and the prices will go up at all for the d, u e, it's and it was listed. buying also fills risky as it's unclear if the apartment will be still intact once the war is over. irina roman ankle is in the real estate sector. her advised owners. rabbi chick, i think you need to wait. wait until there is victory because prices will go up again. if you're not forced by circumstances to sell for 50 percent less than what

it's worth and you should better wait what a lot that you got. but nobody knows when the war will end for people liked you more. it's becoming increasingly difficult to hold on to his old life, his old assets, if he wants to survive. nice doing business with you. ah ah, with

ah, a beginning of a story that moves us and takes us along for the ride. it's own about the perspective. culture information is, is dw and d, w made for mines. these places in europe are smashing all the records. step into a bold adventure. it's the treasure map for modern globetrotters. discover some of you record breaking sites on your back. youtube and now also in book form.

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offers. enjoy alice services. be our guest at frankfurt airport city. managed by frappe waterloo. ah ah, this is dw, live from berlin, russell labels, ukraine's as a regiment, a terrorist organization, a court in moscow rules the far right fighters can face harsh sentences. many are in russian prisons waiting to hear their fates. also coming up on the show, the u. s.