It is worth noting that Russia still hasn’t shut off energy supplies to Europe entirely. Russia has the ability to inflict even more pain if they so choose.

Vladimir Putin in recent comments, publicly threatened to stop supplying Europe with all energy supplies if they continue acting foolishly.

Europe is making nonsense claims about the reality of the situation. There is a New York Times headline describing how the Europeans are saying that Putin’s gas power is weakening.

Seems as if Russia’s position is only growing stronger by the day, especially as we get closer and closer to the winter months. So I have no idea what they are talking about. It’s as if Europe’s political leadership is living in fantasy land. We are seeing stories across Europe talking about energy rationing, government bailouts for energy companies and people potentially being put in jail for setting their thermostats to high.

Here’s some interesting commentary about the general situation.