The Memo by Howard Marks cover image

The Pendulum in International Affairs

The Memo by Howard Marks

CHAPTER

Germany's Dependence on Russia's Oil and Gas

European production piqued about 20 years ago and has almost halved since then, ending up near where it was in 19 80. In the same roughly forty year period, imports from russia have tripled meaning they are now roughly equal to europe's production. Climate appears to have motivated the decision choosing to count on a hostile neighbor for essential goods is like building a bank vault and contracting with the mob to supply it with guards.

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