Posted on 08/29/2022 4:35:31 PM PDT by EBH
Natural gas prices are 10 times the usual—upending industries, angering consumers, and panicking politicians.
If most of the world is struggling with higher energy prices, Europe is being stretched on the rack, forcing European leaders to improvise bailout plans and emergency measures to spare consumers from damaging economic pain come winter.
The biggest problem is spiking natural gas prices, which have been wreaking havoc across the continent, turbocharging inflation, hamstringing industries, and making ordinary people shudder when they get their power bills in the mail. European natural gas prices are now around 10 times higher than they were on average over the last decade and about 10 times pricier than in the United States. Alex Munton, an expert on global gas markets at Rapidan Energy Group, a consultancy, said European natural gas is so expensive it’s like paying $500 for a barrel of oil. And these are the good months.
“Things are [at] a crisis point,” said Munton. “We have astronomic gas prices, and we’re still a few months away from when gas demand really peaks during the winter. There’s genuine uncertainty whether there will be sufficient gas to meet demand throughout the winter.”
The gas problem is largely due to Russia’s war in Ukraine, which has disrupted exports of Russian gas to Europe and raised prices everywhere else. But it’s not just the war: Alternative supplies of gas are expensive, climate change has drained rivers so much that many of Europe’s nuclear plants are offline, and there’s been more than a decade of confusion among European policymakers about how to build shock absorbers into the system. Power prices in both Germany and France reached record levels this week (again), a reflection of the continent’s ever-deepening power emergency. As nations buckle under the economic pressures,
(Excerpt) Read more at foreignpolicy.com ...
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the people will warm themselves by the bonfire
You asked for it. Back in 2018, the Germans mocked Trump’ warning about reliance on Russian energy. Russia cut supply to 20% and Putin is laughing all the way to the bank.
Europe drank the Kool Aid with their devotion to wind and solar… closed nuke plants. Now desperately opening coal powered electricity generating plants for power.
These people are not strategic thinkers. Maybe someday they will recognize that actions have consequences.
You're so stupid.
I cannot disagree with you.
Those who make it through will need to industrious, security minded, and of sound mind.
guess preppers were not all that for off base...
oh that too
all weather is caused by climate change
no dissent
resistance is futile
btw bugs are yummy
It doesn’t have to be. Europe used to power itself just fine without relying on Russia. The means to do this are still there. They just have to decide to stop sacrificing so much to Gaia.
And they laughed at President Trump.
I think we'll get a pretty good understanding of the situation when winter starts in the upper Midwest..
Word is, propane is already up by 35% from last year...
Fluids have been drained from western European leaders’ brains—climate change made them stupid as rocks.
;-)
Well, it all depends on which way you want to change the climate. :)
Exactly. They already have our money, they want our blood too. Let em freeze.
” The gas problem is largely due to Russia’s war in Ukraine, ”
the problem is because of the sanctions placed on Russia forced by the USA and NATO. When the populace of these countries realize why they are suffering they will probably turn on the US and Russia will have realized their goal of dividing NATO countries and the US.
This!!!!
No problem, Go ask Gretta
“Natural gas prices are 10 times the usual”
More FAKE NEWS - It’s now over 20 times and close to 30 times.
The Bonfire of Calamities
soylent green is people
keep that in mind during
upcoming food riots
Biden pulled the pin on this grenade. Never forget.
.
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