Foolish Signals, No Impact

by Karl Denninger

Let’s assume you need 10,000 gallons of diesel fuel to run 1,000 trucks full of produce from one place to another, without which people will go hungry. You are short 5,000 of those gallons of fuel and pledge you’ll release 200 gallons tomorrow so as to alleviate what is otherwise going to be a bunch of very empty bellies.

This is what the claim that we will “alleviate” the Russian gas situation is within Europe today.

Germany consumes approximately 9 billion cubic feet of natural gas a day, and that is about a quarter of Germany’s primary energy consumption. This is just one nation in Europe, I remind you.

A so-called “Q-Max” tanker can hold roughly the equivalent of 5 billion cubic feet once re-warmed to gas temperature; roughly 260,000 cubic meters of liquid is within the tanks. That is, somewhat less than one half of one day’s consumption for one nation can be moved in one ship.

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