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Gas!
The last time European gas prices were this insane, Vladimir Putin's hordes of enlisted convicts and
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The LNG US export business, which is also the largest global exporter of LNG, is once again looking like a savior to the global economy. US LNG exports have surpassed Qatar, among others, in recent years. See today’s WSJ editorial board piece about US LNG exports.
About 4% of Europe’s gas is from Qatar (about half is pipeline imports, primarily from Norway with some from Algeria and Russia/via Turkey, and about half is LNG, primarily from the US with some from Russia, Qatar, Algeria, Nigeria, etc). Europe’s gas storage is low, but winter is ending. I would guess the larger impact of the Qatari gas shutdown should be in Asia.
trump just said the us would underwrite all insurance , for every ship, transiting the strait of hormuz. he also offered us naval escorts. i’m guessing he put less than 5 minutes of thought into this decision, but there it is. would you buy insurance from donald trump?