Courtesy of Mish.
About the only good coming out of ridiculous tit-for-tat sanctions on Russia is the possibility of revised US energy policy, and Lithuania is pleading for it.
The BBC reports Lithuania Pleads for US Gas Exports to Counter Russia
Lithuania's energy minister has called on the US Senate to speed up the export of natural gas to Europe.
Jaroslav Neverovic said that Lithuania was being forced to pay a "political price" for being entirely dependent on Russian gas supplies.
In his statement to a US Senate committee, Mr Neverovic urged members to do everything within their power to release natural gas resources "into the world market".
"A law enacted in your country some 75 years ago denies us access to your abundant and affordably priced energy resources," he said.
The energy minister said customers in Lithuania were having to pay 30% more for natural gas than other European nations, because they were "beholden to a monopolistic supplier."
"This is not just unfair," said Mr Neverovic. "This is abuse of monopolist position."
OK But Wait Until 2020
That's quite the nerve complaining about the US monopoly when it is Russia that has the monopoly in Europe.
Moreover, it will take years for the US to get ready.
Edward Chow, a senior fellow at Centre for Strategic and International Studies, said Russian exports of natural gas were equivalent to "twice the combined capacity" of the seven US government approved liquefied natural gas (LNG) export projects, which would only be completed by the end of this decade.
OK Lithuania, you can have US natural gas. You just have to wait until 2020 to get it….
