American power is entrenched in Europe. Yet the depth of this relationship has become a source of unease in Europe and Europeans are working to reduce their exposure to the vicissitudes of U.S. politics wherever they can.
And the EU’s ‘agreement’ to buy energy worth USD 750 billion was non-legally binding. It is an agreement to negotiate such a volume, not to buy (just read the text of the agreement).
More importantly, the United States exported roughly USD 70 billion worth of energy products to the EU in 2024. This means that the EU would have to more than triple its U.S. imports if we calculate at prices of 2024, and even then it is highly questionable if the U.S. would be capable to deliver, because the volume would exceed the U.S. total production capacity. They would have to built new facilities to provide the volume.
All energy analysts say this so-called ‘agreement’ is complete fantasy.
At the end of Trump’s first term, he made a similar agreement for energy supply with China. I don’t remember the numbers, but it was much higher than any volume you could China reasonably expect to buy. It was no surprise then that Trump’s China-deal never materialized.
The same will happen now with the EU. This is complete out of touch. It will never happen.
None of this points to decreased dependence on US gas in the future. In case you’re confused about why I mentioned gas, check how the dependence on Russian oil & gas affected Europe’s ability to help Ukraine.
You link links to a different article …
And the EU’s ‘agreement’ to buy energy worth USD 750 billion was non-legally binding. It is an agreement to negotiate such a volume, not to buy (just read the text of the agreement).
More importantly, the United States exported roughly USD 70 billion worth of energy products to the EU in 2024. This means that the EU would have to more than triple its U.S. imports if we calculate at prices of 2024, and even then it is highly questionable if the U.S. would be capable to deliver, because the volume would exceed the U.S. total production capacity. They would have to built new facilities to provide the volume.
All energy analysts say this so-called ‘agreement’ is complete fantasy.
At the end of Trump’s first term, he made a similar agreement for energy supply with China. I don’t remember the numbers, but it was much higher than any volume you could China reasonably expect to buy. It was no surprise then that Trump’s China-deal never materialized.
The same will happen now with the EU. This is complete out of touch. It will never happen.
None of this points to decreased dependence on US gas in the future. In case you’re confused about why I mentioned gas, check how the dependence on Russian oil & gas affected Europe’s ability to help Ukraine.
Your mention of gas makes no sense in this context, let alone regarding this 750m ‘deal’.
It makes great sense actually.