by P Gosselin at Watts Up With That
Germany’s online Blackout News reports on a brewing showdown: US and Qatar threaten EU LNG supply over new sustainability law
The European Union’s push for stricter environmental standards is now clashing head-on with its need for energy security.
The EU’s two largest Liquefied Natural Gas (LNG) suppliers, the United States and Qatar, have issued a strong warning, threatening to halt critical gas deliveries over the bloc’s proposed Sustainability Act (Nachhaltigkeitsgesetz).
Europe’s Guide to drive out its industry.
The core issue is the EU’s new due diligence legislation. This law is designed to force companies to scrutinize their global supply chains for environmental and human rights violations, and prove how they plan to align their emissions with the Paris Agreement targets by 2050.
It’s the ever more irrelevant Europe’s way of demanding the rest of the world do as it says. Non-compliance could result in severe penalties for companies, potentially up to 5% of global annual turnover. But the rest of the world is t about to take it.
Harsh sustainability directive…
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