There's an endgame for europe that's not quite clear yet, everything looks so bad.

They won't spend a fortune on defense (against Russia) and also do a large energy deal with Russia as either defeats the point of the other...

Which means...

They can remain a client state of Russia in energy, and the US for defense, but that would also mean the end of the Euro as a currency...

Obviously that's not good either so...

They're bringing in more nat-gas from the US, but is it enough to hedge Russia AND rebuild their industrial base? Probably not...

So that means the UK and Norway really need to drill baby drill, but now the UK isn't even part of Europe technically and my prediction that the UK becomes part of the US is already being teased by Trump...

Ultimately the defense industry issue is just a manifestation of the larger problem, what economy does the EU have left? Can't count on Germany shipping cars anymore...

If I had to guess I'm going to say the EU gets broken up, Baltics end up under Russian sphere because there's no logistical alternative... the UK, Poland and Italy do deals directly with the US as has been the trend... France maintains its own little sphere...

I think the EU is already cooked and we're just watching disclosure be slow-walked.