Yes, “freedom gas” is a real term. Are you nauseated yet?
That was literally a term I heard applied to NG (natural gas) supplied by the US as opposed to other nations, especially Russia.
For quite some time I have been covering the move away from US oil and gas by numerous countries and the effect on the failing petrodollar system. During that time, US corporate media has either refused to report on these circumstances or have actively denied that it is happening at all. Within the past two weeks, they have been forced to give cursory coverage to the subject simply because they can no longer deny they are happening.
Of course, the reason corporate media has tried to gloss these circumstances over is because awareness would have a negative effect on the stock prices of oil companies, who are major advertisers on MSM.
First, what has changed. In the past 1–2 weeks, the European Union has announced that they will not be sanctioning or limiting the purchase of NG from Russia, now that the Nordstream 2 and Turkstream pipelines are nearly completed. Then on Monday, China and Russia announced a joint pipeline project from Siberia to central China to be completed in the near foreseeable future.
For each country, these pipelines provide NG by a more secure, stable route than transoceanic shipping from the US at a lower cost.
The Russia-Chinese pipeline will stretch a total of over 3000 miles and multiple secondary pipelines are being discussed from Siberia to China.
China is the largest consumer of oil and gas globally at this time. As a result of the trade war between the US and China, China has reduced purchasing of US oil/gas products by 75% for over a year. During that time China has been negotiating long term contracts with other countries. When I say long term, keep in mind that China plans 50 years ahead. Once the sales to China are lost, they will be lost for at least a full generation.
For years, beginning under Obama and intensifying under Trump, the US has sanctioned other fossil fuel producing countries- Russia, Iran, Syria, Venezuela primarily. The US has also sanctioned allied countries that trade with these oil producing nations. As a result of sanctions and tariffs, other nations have been moving away from the petrodollar system, selling off US Treasuries gradually, using alternative currencies for fuel trading, investing in precious metals. Until this time we have not experienced the effects of these sanctions and tariffs. That time is coming to an end as some pipelines are completed and others begin construction.
The thing which Americans should understand the most is that the sanctions against other fossil fuel producing countries do harm to our own general economy. They increase profits for oil companies but cost you money. When fuel supplies are expanded because of availability from other countries, that drives the cost of fuel down. By placing sanctions on those countries, the price of fuel is driven artificially higher not only in other countries such as throughout Europe but in the domestic US as well. The cost of fuel drives prices higher for virtually everything else, from food to heating and cooling to water, all forms of transportation and internet service. Basically nothing is immune from the effects of increased fuel prices.
In addition, US citizens pay the cost in terms of increased militarization in countries on the other side of the world.
The other thing Americans need to understand is that the value of the dollar is almost entirely reliant on the petrodollar. As the petrodollar system continues to be ever more challenged by other countries it will lose power and value. When the petrodollar loses value, so will the dollar itself. When the dollar loses value, this will force our economy into hyperinflation. The effects of that would be disastrous. Prices would increase dramatically while hundreds of thousands of jobs would be lost, forcing many into foreclosure and bankruptcy, while food insecurity would be common. Millions of Americans are already on the edge of insolvency and this would force them over that edge. Severe sickness would also be common as millions more would be unable to afford medications or medical care.
How is that “freedom gas” smelling now?