 I wanted to report again about a story that I reported on I think late last year already but the significance of this story has just grown and I don't think it's gotten a lot of press. Do you remember last summer the panic? I mean the real panic about the coming energy crisis that Europe was gonna face. The people gonna die of cold, that Europe was gonna run out of electricity, people could not afford to heat their homes, there wouldn't be enough gas to heat their homes. You know this was an energy crisis on the scale we had never seen before and so on and on and on and on. Well I told you early on that this didn't look like this was actually happening. That indeed prices of European natural gas seem to be coming down from their unbelievable peak in August of 2022. Then in spite of the fact that you've cut off complete, completely all supplies from, sorry natural gas supplies from Russia. The Europeans had managed to get alternative sources. The Germans had put their productive capabilities to work in building LNG facilities and getting natural gas from Qatar and from the US and from a bunch of other places around the world that had LNG that Norway was pumping a more natural gas into Europe than typical that Azerbaijan and Kazakhstan were pumping natural gas to Turkey into Europe and that the actual prices of natural gas came down dramatically so even though it hit a peak of close to $350, natural gas gas came down to $100 already by October and is today at $50. So from $350 to $50 that is what is that 80% drop in the price of natural gas from peak hysteria. Now part of that is that you got a mild winter but part of it is also the fact as I told you at the time that all these liquid-fired natural gas deals will be cut all these alternative ways will be cut and the fact that Europeans conserved they just used a little bit less without people dying without massive you know hits to everybody. I mean natural gas is getting so cheap now that it will soon be replacing coal again as a means by which to produce electricity. So not just will it be used for heating but it'll also be used for electricity. So it's unlikely to drop a lot below 50 because the man now will rise for electricity production. In the meantime I think Europe will spend the next few months filling up gas reserves for next winter. They'll probably build up more LNG plants. I know they have a deal coming up with Israel and Egypt to start shipping natural gas from the oil fields and from the gas fields in the Mediterranean to add to the supply. I think they're gonna find that there are other places in the world eager to ship natural gas to Europe once they get all the planned LNG facilities up where they can download LNG. This means that Europe can hopefully completely eliminate its dependency on Russian natural gas. Again the new pipelines being considered from places like Kazakhstan into Europe through Turkey. All kinds of other means by which to circumvent Russia. This war is going to be a massive, massive disaster. Massive, massive disaster for Russia because its capabilities, its ability to export natural gas is going to curtail building a natural gas pipeline to China or to India is going to take years if they want to replace the flow of natural gas elsewhere. So yeah there you go. It's you know another catastrophe averted. I mean one of the things you realize you know when you follow if you follow the news for decades as I have is what bad things happen and really, really bad things sometimes happen. You know COVID is a good example. The response to COVID is an even better example. You know wars happen. The war in Ukraine is a good example. It is often the case and I'd say most of the time when people catastrophize it's false. The hysteria, the catastrophizing, I mean the balloon is a small example of this idea. We as a species and people today, I don't think it's we as a species, I think people today when you abandon being strictly rational it's very easy to get emotional about any negative thing and to turn that negative thing into a coming catastrophe, a coming disaster. Thank you for listening or watching the Iran Book Show. If you'd like to support the show, we make it as easy as possible for you to trade with me. You get value from listening, you get value from watching. Show your appreciation. You can do that by going to IranBookShow.com slash support by going to Patreon, subscribe star locals and just making a appropriate contribution on any one of those channels. Also, if you'd like to see the Iran Book Show grow, please consider sharing our content and of course subscribe. Press that little bell button right down there on YouTube so that you get an announcement when we go live. And for those of you who are already subscribers and those of you who already supporters of the show, thank you. I very much appreciate it.