[000:00:00;00] a to go with national jump, a prescriptive copy from, wanted to see a good as the boys are new to me if you're bringing with a

with winter fast approaching the. * cost of natural gas and ways to heat our home are becoming a big burden to bear for many european household. the european natural gas in for prices of 15 and 233 percent during one year ago. so why, of a sudden surge and price it? and more importantly, why does natural gas costs so much more in europe than it does in the united states? i'm christy i and you're watching the cost of everything where today will be taking a closer look at natural gas and breaking down the supply chain that is so crucial to our global economy. so why exactly is natural gas so much more expensive in europe then? basically everywhere else, while surprisingly the natural gas market is not as global as you might think. the european benchmark known as dutch t t f is priced in euro's per megawatt hour, making

a hard to see just how much more expensive it is. in the u. s. natural gas is priced by henry hub in millions of thermal units. now, after converting it to get apples to apples comparison, europeans actually pay a staggering $9.00 fold higher cost for natural gas than americans. so what caused this huge increase? while part of that actually stems from supply and demand b, e u and the u. k. liquefied natural gas import set an all time historical record high in april 2022, averaging 16500000000 cubic feet per day. europe had an unusually cold winter last year, and then russia started curtailing supplies through the pipeline. and then on top of that, you had the green agenda, push to reduce coal consumption there by lowering greenhouse gas emissions pushing for even higher demand for natural gas to replace them. now let's bring in one ricardo ortega, president of bobo time energy group,

who is at this very moment in germany, one of the places where natural gas is making headlines. so for us, the law is it wise for europe to continue to push this green agenda? so heavily when it is hurting so many citizens during the transition phase, as natural gas applies, are unable to plug up the shortfalls of other fossil fuel energy sources. you can clearly failed, but they are bringing more picture into the and the transition process. they had already considered impersonal call. they are looking for sources liquefied gas. unfortunately they. ready level of the crisis is so large, they're talking about one 3rd of the worlds of bio l g. that would need to be china doors in europe or the germany, that there is literally not much room for minority. they're talking a lot,

some of the largest economies on the world and some of the large consumers. so the bane, unfortunately it's not boy will not just come from the energy transition. is there the fact that they lost their main source of natural gas, that this whole mess is out of control? and do you think, well, germany and the you eventually a forced to break away from the washington agenda and re focus is business and economic ties with russia. given that the e u is so reliant on russian gas, i doubt it, deliver low to ration and disappointment. what has been going on is pushing. i know that agenda with significant resources and economic groups behind it, development of all their source of energy, hydrogen as many forms, methanol, a, ammonia,

they are going to be looking for new alternatives, and they are pushing that occasion of the economy. one of their main goals, how that burden and that same might be shared between the budget. so the government and the citizens, i think, is going to be the main discussion regarding shifting the policy a i see that has very likely and what you're going to see is so significant strain in the coming years. ready and they've done national markets where the weakest economy, something weakest, countries want to be losers. but the energy is going to remain in that in that way. they reached powerful, gone through. so i want to continue finding a new source where they're going to be getting what they need at a much higher price. and i think everybody's getting used to it. assuming the cost of energy is increasing the country in the medium to long term. you alternate,

these are brought to market. and now how high do you think natural gas price will go in euro by the end of the year? or the price is not going to be much higher. it's $356.00. it for me and i'd be to use that that's history. going to be prices that could be anywhere around $30.00 to $40.00 is going to be much higher. and i'm probably that's what it is. want to facilitate and help this transition put a new energy sources and i think that many people are bidding on that. and this is what is going to make it economically feasible for companies to invest in all day infrastructure they need that would be mostly producing the same european country. so i don't think they mind that so much if they manage to keep

the price for the public in their acceptable level. and so the level of subsidies is going to be the main challenge on how they are going to fund those deficits. yes, and what is the situation with russia? they have reduced natural gas supplies to europe as a means to put pressure on them. but at the same time, it hurts rushes profitability as well to cut down on exports. so where is this still may going? and when does that end? this is going to continue on till you find the resolution to enter your credit in situation. and i see that it's going to be a lot of pain everywhere, not just between russia and euro or the us, but the countries that require natural gas in the international market. they don't want to be suffering because the scarcity is going to affect everybody. or you can see that in the market, the viewer audrea, and the same in,

in food stamps was countryside expansion. patient would start substitute 2028 percent. so this is gonna continue until there is a solution for you from your country. and while russia be able to long term pivots, has asian partners for natural gas exports to shore up its markets and profits? and how long would that take? was likely a china is going to have it again advantage because it probably would be se one of the buyers. i'm the recipients of that gas. i'm maybe india. a lot of it will have to be defined by how the winters behave. if you have a mile winter in asia, in my winter in europe, this is going to be my guest. you have horrible winters in asia, europe. this is going to be a nightmare. so it is hard to tell it will be played out in the next months

depending how nature juices to bring this coming winter. when this push to a glean economy, how long do you think human society will be using natural gas for and how long will be this transition? or do you think the push to green economy will eventually fizzle out? natural gas is going to be making stay during the whole transition. no country can just get rid of guys right away and it will be a significant source of energy for the common decades. but that is going to be growing consumption of energy efficiency and song. but our little markets i want to develop, oh, it could be hybrid then that has significant challenges in the transport. but it could be ammonia is the new technologies for cracking it become cheaper and more efficient. could be math and all. and some of them for sure,

going to become significant bayers to transport, mostly shipping, air, fry, and drugs drains and airplanes. and those markets are gone in are going to cheaper most likely to lead new sources of energy, an industry. you can clearly see your money. now, companies looking at the production of seal based on hydrogen bonding happen because of what these crisis brought to europe more likely weaker than later. so you can expect significant changes within the next 5 to 7 years. thank you so much on ricardo arcadia for joining us today. now, compared to europe, the u. s. has plenty of natural gas resources to tap into it is a net exporter of natural gas and exports quite a bit to europe. but now, there is

a limit to how much us production can help in europe and allies. this quantity is limited because the high transportation process to ship natural gas overseas. now in our, to ship it, natural gas has to be liquified. and this is a very complex and expensive process, and the facilities that transform gas into liquid is a costly endeavor, and it's relatively new thing born out of the recent shell boom, that means most state, sy, producers are maxing out the available liquid cation capacity. and most of our natural gas will be trapped in the us, unavailable for export. such a break it down, estimated liquid vacation fees range from $2.00 to $3.00 per pillion thermal units, which is a 15 percent markup. then you have shipping where costs very by destination and market conditions. this can range anywhere between a 15 percent mark up to a 40 percent markup in prices before it reaches the destination where there are

also duties and taxes. let me so what is the cost of natural gas for countries are less with vast reserves of the fuel? we'll discuss more after the break. ah ah ah. by the middle of the 19th century, practically the whole of india had been under the rule of the british empire. the colonial authorities had imposed that heavy death bringing the people into poverty and were exporting natural resources. and moreover, these authorities absolutely had no consideration for the provisions of the local

population, treating them like 2nd class citizens. the british were showing signs of disrespect even to those who cooperated with them. the fact of ignoring the religious beliefs of the hindus led to the mutiny embassy boys, mercenary soldiers, serving under the british crown. rebellion began on the 10th of may 1857 in the garrison town of may river, north of india. in the form of a mutiny. the rebels quickly took over daily. the heroic resistance of the indian people lasted for one and a half years. however, the forces were not equal to the colonial authorities dealt with the rebels cruelly, the enslaves, the boys were tied to the mouth of the cannon and were shot right through their bodies for the amusement of the public. this type of execution was called the devil's with the obliteration of the mutiny resulted in the death of 800000 inhabitants of india. however,

the british empire never broke the free spirit of the indians and their will for resistance with ah

ah ah, welcome back. we are talking today about the cost of natural gas. so let's look at india, where the share of natural gas consumption has increased to 6.7 percent as it aims to have 15 percent gas in its energy mixed by 2030. currently, coal as a primary fuel source used for power generation. oil is used for the transport and industry and bio mass for residential heating and cooking. but as india has space is worst power crisis in over 6 years earlier in 2022. india is facing mounting pressure to become energy independent. now let's dive a bit deeper with energy economist the booty garg at this point. how has india balancing it's 2 priorities becoming energy independence versus cutting back on carbon emissions?

right, so just to said the contacts, you know, they didn't find me expanded out to read every point, 7 person in finance, one and we are expected to demonstrate strong growth in the coming years. and this revival of nomic activity is for the leading to a surgeon and you can and in the month this is expected to kind of go at $3.00 to $5.00 to $6.00 pleasant every year. lease and then so then says, well we're 90 the make as and as i show you 3 more have money countries including india, naturally to done in work and in july on what is the domestic market. so to address the issue of energy security and also protect against the price will be open to the strategies basically to explore more domestic resources to meet energy demand for yes, even in that is looking at back to sleep. but while they're trying to increase

domestic production by opening more mines for private production, but in order to meet the substantial and fees and demand in there also has big non for in the deployment for the updated. and it doesn't actually matter of you sion which has now kind of enhance and is committed to reducing emission intensity by 45 and by 2030 compared to 2005 levels and also to achieve 50 percent of install capacity from law enforcement choices. so that's why the mission, but at the same time it's quite achievement. but given the kind of demand growth that the note is likely to witness, there's not a push model need to be locked. remember d, but also development across the value. and i think that's for the kind of trying to reduce employment. so at the moment has initiated or introduce seems like production. they've been doing pretty domestic manufacturing. analysts and reviews

and board dependents on. that's what they want to know. you deployment. why the noun, energy gone deletion china was they didn't mean to me down the street threshold for radius on for you and also kind of and now in carbon trading the booster and will energy deforming. so just as i met several measures have undertaken screen and you are the native model near solutions to the got the nice and it doesn't, the, there was also team will be affected like the semen to the finding, etc. and how does that make sense for india to transition to natural gas and l n g, when it is so much more expensive than coal? and what in high gas subsidies does burden the economy? yes, and yeah, good traction for natural gas. what kind of boy named right? again, the man, few months back dated star,

get gas share and they know you makes 2. 15 was then, you know, while the current year is about 6 plus and, and this should have we just raised from 6 plus and, and 2016 to about $6.00 wasn't today. so this says, despite your knowing that has gone ahead and expanded the gas did, and for the gas distribution network guy says, have sky, how could it be for natural gas? and you know, as being 50 percent of its domestic, why men from and so the gas guy search since october 2021 has wilson and gas situation. the benchmark that which is the korea market, the j can, you know, has gone up and more than debate between april $21.00 and $3.00.

and for the even the domestic gas prices have kind of more than doubled as bad as the price isn't concerned. more than shipment, so i think that's where it does hitting the use of gas quite substantially. the government is for the in fact, so on the boat was likely to announce another guy's your vision. you know, prices are expected to rise for the buy one and a half time. and yet the gas prices are goes up. it becomes difficult for the government because it means high. it's up to these. and given that the government cannot pass on these high cost, you can do more for certain products that's up to be bought and has in the, for example, in the case of the subsidy, which has be moving around to piece one trillion on most, which is equal to us dollars for the bill then for 2 years is likely to go up to 2 trillion and then to be,

which is radia been us dollars for this fiscal year due to the high gas prices. the government had stopped energy subsidies in the last few months, but is now planning to re introduce them because a 5 crisis and also for some sectors like said he got distribution. the government has mandated that will be domestic as we. so as such, the push for gas you does not bode well for the minute bond to meet with current prices that we are missing. now, the minister of petroleum and natural gas hard, deep perry had recently said that the fuel price rise in india had been contained in comparison to the developed countries. and his side is that the indian government has taken several measures to minimize the volatility of global crude and gas prices. so the indian gasoline prices were down, 2 percent drain july and august. while the rest of the developed nations saw gas prices jump to 40 percent. now what exactly are those measures that they've put into place?

and then boards 80 percent of it for so while the partial petroleum diesel have is in the marketing companies and they did not increase the costs of the actual n b or the finally kind of the money. and they have been there in the last says on their books. so one option for that was to increase the lead fees, increase bank or costs to the end consumer is much higher inflation, which the government did not allow. but there is some portion of losses that is sitting on the book and the loss of that kind of gone substantially in the last few months with the rise in prices. so what the new government has done for the head, you know, some of this type guys rise has to cut down some of the faxes which the mentors and the wine on both patrol and beads. and that's how they have tried to be

the prices didn't reach to maintain as affordability, which meant revenue loss. one of the men and some loss has be owned by the mc. like now with those guys going down or, and he's had being able to recover some of those losses because the faces have not been reduced. why lloyd price as the global oil prices of bonds. but that's how it's one of the ways that the domain has ensured that the prices are in the more affordable range state. southern states also reduce the state backs, which is the why the rabbit backs and then now on both children. so that was one aspect and the other was started out in 4 cheaper options. so it started buying more from russian food. natalie, the objective that the government said was only based on commercial reason and

granting and inflation. so these are the measures that they and the government has taken many steps towards a glean alternative future. but do you say natural gas as more of a supplemental fuel or a true replacement? as i said and does not have much of its domestic gas and has been bought, being 50 percent of its gas requirements, the softening of gas prices. i'm not inside little busy, just indicate that the prices remain upward so and then you guys says i expected to remain above $25.00 a month for the rest of the year. and even the forecast says that so it won't go down below us. and on this claim, and we do in 2027. so the gas one commission, you know, what the government needs to do has to be the new technology can see lap or and

then you guys the non mitch are required because in those adding more and more share for independent energy to the grid be can be used as a beginner ation. resources that are the next to be going to ration for like not going back to storage is becomes why, but for that them and my son's. and if i, if you know, for foster adoption of mason technology such as b hydrogen, forsake those for the lies and also make bio gas for the transports. so what i recommend that any traditional use of, gosh, should be limited, are to select as written, no competitive, ortho native or rid gaskins but renewable energy update or hasn't been dealing with that. as i mentioned earlier, or as the government should kind of reuse, it's relying on using gas as the treat you regard. thank you so much for coming on

today. it's easy to spot. the winners here on the natural gas playing field, us russia, countries blessed with vast quantities of precious natural resources to power the nation. and one can argue that while europe is paying for the higher cost of natural gas in the interim, it is winning and the long term goal towards sustainability and becoming carbon neutral. but is that really the case? perhaps the greatest hypocrisy in europe to coupling from russian gas relates to the environment. the carbon footprints of american ellen g shipped to france is twice that of conventional russian gas. so we are witnessing a vicious circle. sanctions against russia has increased international demand for fossil fuel renewables account for less than one 3rd of all electricity generated. but at the same time, governments are reluctant to fund major extraction projects because of their climate commitments. so the biggest winner here is actually going to be big oil,

but rather than reinvesting profits into new production to help displace russian oil and gas, execs are rewarding shareholders. this sets us up for an even tighter energy market in the years ahead. and i'm thinking we go over $300.00 euros per megawatt hour on the dutch t t of gas futures by year end, as we keep on this current pace of things. thank you for watching. we'll see you next time right here on the cost of everything. ah ah ah, when i was a sheet

out disdain becomes to and engagement equals the trail. when so many find themselves will support, we choose to look for common ground. oh is your media a reflection of reality? ah, in a world transformed what will make you feel safer? isolation for community. are you going the right way? where are you being led to somewhere? which direction? what is true? what is faith? in the world corrupted you need to descend. ah. so join us

in the depths or remain in the shallows. mature, is this the best of both? not sure. my, for the mobile, when you vision annual g d. p per capita is about $4000.00 euros. last does that. we've got drugs. follow normal dollar a washer. personally a primary coffee seal from quite a few 1000000 kids near prison. social 4 normal bellanca marci nature laws thought they would have thought of unemployment is off the charts. moldova territorial integrity and sovereignty, are we respect of the country which enjoys financial support from the u. s. n. b, you is constantly roth by political and corruption scandals,

but all that didn't stop moldova obtaining each candidate status in 2022. ah ah say that is convicted and sentenced to is the 5 years. ah ours was the 2nd largest robbery in the us at the time, and people from the 1st largest robbery and the 3rd largest. while we got 15 years, i was sent to 65. it's common practice to use your spouse as leverage in order to try to get you to flip. oh, so definitely applied that pressure and lucy got the message to him. he says if you