Europe’s Cold Winter May Freeze America

Europe may be the first to pay for Biden’s sanctions, but Americans are next. [The Rude Awakening] November 04, 2022 [WEBSITE]( | [UNSUBSCRIBE]( *** Urgent Warning From Paradigm’s Publisher, Read Below *** Hi, Matt Insley here, executive publisher of Paradigm Press… with an urgent note. Our chief macroeconomist, Jim Rickards, just released a brand new video with an URGENT warning and I’m making the rounds to make sure you see it. In short, Jim sees a massive midterm election COVER UP unfolding right now. It’s a huge story about president BIde that’s not getting much coverage from the mainstream media. There are TWO things you need to do right now to get caught up: #1 You can see Jim’s urgent update video [RIGHT HERE.]( (He sets the stage for everything you need to know at his midterm election war room: [( #2 Keep an eye on your inbox for an email with “Election Briefing” from Jim Rickards. We’ll be sending out updates leading up to Jim’s live briefing. ^^^ Urgent Warning From Paradigm’s Publisher, Read Above ^^^ Europe’s Cold Winter May Freeze America - It’s conventional wisdom the US government will fight Russia to the last European. - But the catastrophic supply chain issue and accompanying inflation have kneecapped all Westerners. - Americans aren’t - and will not - escape the dire energy situation unscathed. [Pelosi: Queen of Stocks?]( Could you live on a yearly salary of $223,000? Speaker of the House Nancy Pelosi can’t. In between her mansion in San Francisco… Her vineyard in Napa Valley… And her condo in Washington D.C… She’s got bills to pay. Maybe that explains why she turned to the financial market… …and made a whopping $16,300,000 from trading stocks in 2021. The secret to her success? We can’t say for sure, but here’s what we can say: There’s a rather unusual source of financial intelligence that can help you find stocks going up next – just like her. [And you can see the full details for yourself right here](. [Click Here To Learn More]( [Sean Ring] SEAN RING Dear Reader, Happy Friday! We’re here. Thank heavens. But before we break out the adult beverages, let’s have one last morning cup of joe. It’s common knowledge that European industry is falling apart. Just yesterday, French glassmaker Duralex suspended its operations over high energy prices. [tweet] Credit: [@disclosetv]( “Turnover” means “revenue” in Europe. "Since 2021, the price of electricity has been multiplied by 22, and that of gas by 18," [said José Luis Llacuna, President of Duralex](. “Duralex, therefore, believes that stopping production is the only solution to preserve the future of the company.” And that’s real industry. But you should see the shutdowns in chemicals and fertilizers: [shutdown map] The above map lists all the chemical and fertilizer companies that gas prices have crippled. It’s a mess, no doubt. But America hasn’t escaped the consequences of its policies. And it looks like Joke Biden is going to find out about that “good and hard,” as HL Mencken would say, on Tuesday. Let’s look at how the Democrat Loony Left has tied up America in knots. But before I begin, a big shout-out to my paisano, Mark Rossano, the Sherlock of the Supply Chain, for all his tireless research. I’m merely trying to condense his firehose of knowledge into a drinkable cup of 1,200 words… Banning Keystone XL I thought Joke Biden was a moron in 1990. He didn’t waste a day of his presidency trying to prove me wrong. Here’s a brief reminder, courtesy of the [Associated Press]( Construction on the long-disputed Keystone XL oil pipeline halted Wednesday as incoming U.S. President Joe Biden revoked its permit on his first day in office. The 1,700-mile (2,735-kilometer) pipeline was planned to carry roughly 800,000 barrels of oil a day from Alberta to the Texas Gulf Coast, passing through Montana, South Dakota, Nebraska, Kansas, and Oklahoma. “The Permit is hereby revoked,” Biden’s executive order says. “Leaving the Keystone XL pipeline permit in place would not be consistent with my Administration’s economic and climate imperatives.” Think we could use those 800,000 barrels a day right now? And we’d also be paying our staunch ally, the Canadians, for it, instead of begging dictators worldwide to increase their production. The only comfort I get is that this move deprived El Fidelito del Norte of precious revenues to imprison his population further. Well, at least it kept America pipeline-free! Oh, wait… [us map] Credit: [theodora.com]( No Refining Capacity The East Coast of the US doesn’t have much refining capacity. That’s a shame because New England uses the most energy in the winter to heat itself. A big blow to the refining capacity was the 2019 Philadelphia Energy Solutions refinery explosion. From [Wikipedia]( On June 21, 2019, the Philadelphia Energy Solutions refinery in Philadelphia, Pennsylvania was the place of an explosion and fire early morning, when a release of hydrocarbons and hydrofluoric acid in the refinery's alkylation unit caused a ground-hugging vapor cloud that rapidly ignited, leading to three separate explosions minutes apart from each other. The largest explosion sent a vessel fragment flying 2,000 feet across the Schuylkill River. Five employees sustained minor injuries, but there were ultimately no reported fatalities. The refinery announced it would shut down operations the same month and filed for bankruptcy a month later. So the most populous part of the nation can’t refine crude. Not great. [chart] Credit: [eia.gov]( [Trump’s Final Gift To America]( There’s a little-known way Trump could – one day – have his revenge. It involves a Federal Ruling he oversaw in the final year of his Presidency that could change America forever… unleash an estimated $15.1 trillion in new wealth… and create countless ways for everyday Americans to benefit. What is this little understood decision? And how will it impact you? [All the important facts are here.]( [Click Here To Learn More]( New England More specifically, New England is a big pain. They want all the heat in the winter but none of the infrastructure that goes with it. Not Enough Pipelines in the Northeast But it’s not entirely their fault. Get this from the [Yankee Institute]( The main problem is that New England can’t get enough natural gas from the rest of the country. Demand for gas has climbed in recent years because it produces less carbon dioxide for each megawatt it generates, and in many instances has been more economical than oil or coal. But resistance to natural gas infrastructure, specifically pipelines in New York, have left New England relying on oil for electricity and heat when the gas can’t flow fast enough. New York Governor Andrew Cuomo in 2016 used administrative maneuvering to block the proposed Constitution Pipeline, which would have brought gas from Pennsylvania into existing pipelines that supply New England. Several other gas projects were subsequently nixed or withdrawn because of obstacles created by New York state agencies. Cuomo ostensibly blocked the pipelines because of concerns about carbon dioxide emissions. But as today’s high use of oil and coal shows, constricting the flow of natural gas doesn’t entirely prevent emissions, and in fact, can push them higher. Cuomo’s crappy policies continue to haunt America. Ships and Rail Shipping or railing LNG is much, much more expensive than pipelined gas. And the Jones Act requires that all goods transported by water between U.S. ports be carried on ships constructed in the United States that fly the U.S. flag are owned by U.S. citizens and crewed by U.S. citizens and U.S. permanent residents. Here’s a scary stat: there’s [only one Jones Act-compliant LNG ship]( being built at the moment, and it won’t be done until 2023. The rest of the world’s LNG fleet was built abroad. Home Diesel versus Road Diesel In New England, road diesel and heating oil are the same chemical mixture (ultra-low sulfur). That means you’ve got homes and truckers competing for the same oil. The refiners must dye the heating oil red, so they don’t get confused themselves. All these things exert massive upward pressure on the price of fuel, because of the constrained supply. Banning Russian Oil and Gas With all the self-imposed supply constraints, you’d think the administration would’ve thought twice before banning Russian energy imports. Of course, they didn’t. So, this was never “Putin’s Price Hike.” This was a nasty lesson in market pricing with tight supply. Beg Thy Enemy? And if telling the Canadians they can’t pipe their oil south and the Russians to keep their wonderful cheap energy wasn't bad enough, Biden begged dictators for their wares. First, he asked “staunch ally” Saudi Arabia to increase supply. Instead, they decreased output by not one, but two million barrels! Then he flirted with not just Venezuela but Iran as well! You can’t make this stuff up. All three told him to take a hike. They’re far more afraid of the Russians than the senile old man in the Oval Office. Wrap Up But the worst part is how President Biden is trying to cover all this up. What Joke Biden has done could potentially destroy America for years to come. What’s coming will make the 8-9% inflation we’re seeing look like child's play. What’s going to happen this winter could be the equivalent to 10-15 times what we’re seeing now in terms of rising costs. Before I leave you, here’s the latest picture of President Biden implementing his policies: [shooting foot] With that, I wish you a great weekend! All the best, [Sean Ring] Sean Ring Editor, Rude Awakening [Paradigm]( ☰ ⊗ [ARCHIVE]( [ABOUT]( [Contact Us]( © 2022 Paradigm Press, LLC. 808 Saint Paul Street, Baltimore MD 21202. By submitting your email address, you consent to Paradigm Press, LLC. delivering daily email issues and advertisements. To end your Rude Awakening e-mail subscription and associated external offers sent from Rude Awakening, feel free to [click here.]( Please note: the mailbox associated with this email address is not monitored, so do not reply to this message. We welcome comments or suggestions at feedback@rudeawakening.info. This address is for feedback only. For questions about your account or to speak with customer service, [contact us here]( or call (844)-731-0984. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees to you should be deemed as personalized financial advice. We allow the editors of our publications to recommend securities that they own themselves. However, our policy prohibits editors from exiting a personal trade while the recommendation to subscribers is open. In no circumstance may an editor sell a security before subscribers have a fair opportunity to exit. The length of time an editor must wait after subscribers have been advised to exit a play depends on the type of publication. All other employees and agents must wait 24 hours after on-line publication or 72 hours after the mailing of a printed-only publication prior to following an initial recommendation. Any investments recommended in this letter should be made only after consulting with your investment advisor and only after reviewing the prospectus or financial statements of the company. Rude Awakening is committed to protecting and respecting your privacy. We do not rent or share your email address. Please read our [Privacy Statement.]( If you are having trouble receiving your Rude Awakening subscription, you can ensure its arrival in your mailbox by [whitelisting Rude Awakening.](