The deal calls for $250 billion per year for the first 3 years. Last year the EU purchased 65 billion worth of the 3 sources from the USA. Sure it will go up but to go up 400% per year is dilutional for both sides. If it turns out like the $200 billion dollar energy with China that amounted to even less then what was being purchased in 2017 it will be just a chest thumping and hype deal. I doubt we even have the infrastructure to increase the amounts by 400% lest alone have the EU buy 85% of these 3 sources just from the USA. There is an oil and energy surplus currently and I don't see the Saudis or other low cost energy producing nations cutting back much if at all.
Bryce
But I want to believe this will happen. So it is written, so it shall be done. I like extra corn on my B.S. sandwiches.
"Putting together the value of all three energy( oil, natural gas, coal total u.s. exports) commodities gives a total of $165.8 billion, meaning that even if the EU bought the entire volume it would still fall well short of the $250 billion.
The scale of the delusion probably exceeds what Trump and China agreed in their so-called Phase 1 trade deal in December 2019, under which China was supposed to buy $200 billion of additional U.S. energy by the end of 2021.
The reality is that China never even came close to buying that level, and its imports of U.S. energy didn't even reach what they were before Trump launched his first trade war in 2017."
Reuters
Command economies.
