Oddbean new post about login | logout That must make Chinese policymakers very happy. Russia's too, outside Gazprom. Prospective immigrants, not so much. But maybe "if its free, its Halal"...
Russia's newer pipelines will be less profitable than their EU ones. The Chinese know that they can get a discount because the West isn't bidding, anymore.
True, but their hit to margins won't be anything like the mark-up you guys are paying for LNG. China, Japan and Korea are buying our gas at hefty price increases compared to previous years, so Russia alone isn't able to meet China's increase in demand..,
China is declining, tho, and India is going heavy on coal and nuclear.
China is going through some political stupid at the moment, but its so opaque and centralised its impossible to know which way it will move afterwards. India have their own coal and nuclear fuels, they'd be mad not to use them. They do import our gas, though. In my grandfather's day, Australia was the world's lowest-cost aluminium producer, and a major steelmaker. All gone. Politics is upstream from economics...