S8 Ep516: Preview for later today: Michael Bernstam reports that Europe has found new energy sources, ending its dependency on Russian gas, leaving Russia facing lost markets and resorting to flaring gas as its economic future grows increasingly dim.
The John Batchelor Show
John Batchelor
4.5 • 2.8K Ratings
🗓️ 25 February 2026
⏱️ 3 minutes
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1890 Ukraine
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| 0:00.0 | Conversation with my good friend and colleague Michael Bernstam in the Hoover Institution. |
| 0:05.6 | This is John Batchelor. |
| 0:07.5 | What has happened is that the new sources of natural gas, the U.S. for Europe, now the eastern |
| 0:14.3 | Mediterranean for Europe, in addition to the Caspian Sea for Europe, all of that is leading |
| 0:19.9 | to a new world after the Ukraine |
| 0:23.3 | conflict is resolved in whatever fashion. The new world will mean that Europe has no |
| 0:28.7 | demand or need or interest in Russian natural gas. The oil, Russia, can sell to China and its |
| 0:36.3 | friend in India. |
| 0:38.6 | But the natural gas, Michael describes the flaring right now, |
| 0:42.2 | because there's no market for it. |
| 0:44.8 | What this means is Russia's future is not as bright as its past. |
| 0:52.1 | The opposite, much dimmer. |
| 0:54.8 | Here's Michael to explain. |
| 0:56.7 | Much more of this tonight. |
| 0:58.6 | The Russian natural gas then. |
| 1:02.8 | They don't have customers in the post-Russia, Europe's post-Russia future. |
| 1:08.0 | Russia can sell to China, can sell to India. Natural gas. I'm not talking oil. |
| 1:13.8 | Natural gas. They cannot sell to India. They can transport some liquefied natural gas. It will be very expensive to go along with Groot. |
| 1:23.1 | They're building or expect to build a new natural gas pipeline to China, which is called |
| 1:31.7 | the power of Siberia 2 and sell another 38 or 50 billion cubic meters. |
| 1:38.3 | But that's the problem. |
| 1:41.2 | They now have this abandoned natural gas produced, which has no market. |
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