Birdnow's Aviary

November 29, 2021

Russian Gazprom Makes Record Profits

Timothy Birdnow

The liberals told us for four years Trump colluded with the Russians. They are on record. They continue to make this claim despite Mr. Trump being exonerated.

Which is what makes this interesting.

Russiaâ€™s Gazprom Reports Record Profits as Gas Prices Soar

Russian gas giant Gazprom on Monday said its net income rose to a record 582 billion rubles ($7.8 billion) in the third quarter on the back of soaring gas prices in Europe.

Europe receives a third of its gas supplies from Russia and has seen energy prices surge to record highs as economies have come back online after the end of pandemic lockdowns.

In a statement, Gazprom Deputy Chief Executive Famil Sadygov linked the company's record quarterly profits to Europe's gas crisis and said he was expecting even better results in the fourth quarter.

"Clearly, the price of our supplies to Europe will be significantly higher in the fourth quarter, which will have a positive effect on results for the entire year," the statement said.

So, under President Trump, Russia - his supposed benefactors - were making a lot LESS money from oil and gas than now. It would seem Mr. Biden is the guy helping the Russkies.

And he is. His policies have systematically reduced oil and gas production, forcing prices up. At the same time he approved the Nordstream 2 pipeline from Russia to Europe so as to make Russian fuel economical. Trump would not allow that.

And this while he was killing the Canadian Keystone XL pipeline to our refineries. And squeezing banks to stop lending to oil and gas companies. And angering the Saudis. And trying to ban drilling on public lands.

Who worked the will of Putin and the Russians? It sure wasn't Mr. Trump.

Posted by: Timothy Birdnow at 10:47 AM | Comments (20) | Add Comment
Post contains 299 words, total size 3 kb.

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