Free Republic

German Federal Economy Minister Robert Habeck expressed concern over the looming energy crisis this winter, telling German media that the situation was extremely tense and there is a possibility that Germany may run out of gas. Habeck spoke on Friday, appealing to Germans to reduce their consumption of natural gas ahead of this winter a day after the German government launched a new price break programme to help Germans with the rising costs of energy.

The European Union is preparing the eighth round of sanctions against Russia as Moscow escalated its war in Ukraine by holding illegal referendums in four Ukrainian regions... On Thursday, European Commission President Ursula von der Leyen presented the Commission’s proposals for the eighth package of sanctions in response to Russia’s escalation of the war in Ukraine. “Today, in this package, here, we are laying the legal basis for this oil price cap,” von der Leyen said, commenting on the G7-led idea of banning Russian crude oil from imports by sea unless the oil is sold at or below a certain...

Switzerland’s environment minister is facing backlash after recommending that people shower together in an effort to cut energy consumption this winter and fend off power cuts. Simonetta Sommaruga, 62, suggested that people “turn off the computer when you don’t need it, or turn off lights, or shower together” as part of her measures promoting a 15 percent reduction in energy consumption, The Times of London reported. Her suggestions were in response to questions on the government’s campaign by readers of Swiss newspaper 20 Minuten, according to the report. Authorities in Switzerland, which imports 75 percent of its gas from Germany,...

Switzerland’s environment minister is promoting measures to reduce energy consumption by 15% this winter - and one of her suggestions is that the country's people have showers together. The Times reports Simonetta Sommaruga, 62, is suggesting people could "turn off the computer when you don’t need it, or turn off lights, or shower together”.

Vladimir Putin’s economic campaign to force European governments to abandon support for Ukraine by sharply curbing their natural-gas supplies looks to be faltering as gas prices fall, Russian government finances deteriorate and the continent sets plans to ease the pressure on households and businesses. Russia’s long-term success in the economic fight with Europe is seen as critical by both sides in deciding the outcome of the conflict in Ukraine. But signs that Mr. Putin’s economic strategy is struggling are coinciding with serious reverses on the battlefield as Ukrainian forces regain swaths of Russian-occupied territory and as the Russian president has...

As Germany’s electricity and natural gas prices soar, a wave of companies – some having a long tradition – are filing insolvency. Many midsize companies rely on natural gas as a source of energy, but prices have multiplied since early this year. Blackout News here reports toilet paper maker Hakle has filed for insolvency, citing “increased energy costs”.“Tenfold increase in gas and electricity prices”Others include shoe retailer Görtz, who cite low sales as consumers cut back on their discretionary spending, and automobile supplier Dr. Schneider. Steel producer ArcelorMittal in Hamburg und Bremen are also following.“With a tenfold increase in gas...

The first statement made by European Commission President Ursula von der Leyen in her annual State of the European Union address on Wednesday was not verbal, but visual. Clad in bright blue and yellow alongside other senior politicians, she showed support for Ukraine's battle with Russia, making clear even before the speech began that the war would top the agenda. With Ukrainian First Lady Olena Zelenska in Strasbourg for the occasion, von der Leyen pledged Europe's "unshakeable" commitment to Kyiv, sending a defiant message to Russian President Vladimir Putin in Moscow. "Putin will fail and Europe will prevail," the chief...

European countries can withstand Russia’s gas cuts this winter as supply headaches may have been “successfully solved”, according to analysis by a leading US bank. Goldman Sachs said the price of gas was likely to more than halve this winter as efforts by EU countries’ to avoid big shortages this winter prove effective.

Russia expects the price of its natural gas exports will more than double this year compared to a year ago, according to an economy ministry forecast seen by Reuters. This year's average price is now seen at $730 per 1,000 cubic meters, up 140% from 2021 and up 39% from the Kremlin's previous forecast for 2022. European gas prices have skyrocketed since Russia's invasion of Ukraine as state-run energy giant Gazprom reduces flows via the Nord Stream pipeline. After this year, Russia sees its gas export prices retreating to $471.8 in 2023 per 1,000 cubic meters, $383.9 in 2024 and...

Russian President Vladimir Putin said on Wednesday that Russia had not lost anything as a result of its military campaign in Ukraine. Speaking at an economic forum in the far eastern Russian city of Vladivostok, he said all Russia's actions were designed to strengthen the country's sovereignty and were aimed at "helping people" living in the Donbas region of eastern Ukraine. "We have not lost anything and will not lose anything," Putin said. "In terms of what we have gained, I can say that the main gain has been the strengthening of our sovereignty." Putin conceded, however, that Moscow's decision...

You gotta see this... Making an art form out of messing people's minds... Roughly, 'This winter's going to be really serious, see ya in the spring.....' А зима будет большая, Вот, гляди-ка, за рекой Осень тихо умирает, Машет желтою рукой. Плачут мокрые осины, Плачет дедушка Aрбат, Плачет синяя Россия, Превратившись в листопад. И, сугробы сокрушая, Солнце брызнет по весне, А зима будет большая - Только сумерки да снег.

What is the scale of the energy challenge?We got a very shocking sense of the staggering numbers involved in the existential, crippling European crisis earlier today when Norwegian energy giant Equinor echoed what Zoltan Pozsar said in March, warning that “European energy trading risks grinding to a halt unless governments extend liquidity to cover margin calls of at least $1.5 trillion." As Bloomberg put it, in its best non-Zoltan imitation, "aside from inflating bills and fanning inflation, the biggest energy crisis in decades is sucking up capital to guarantee trades amid wild price swings. That’s putting pressure on European Union...

“Here Comes the Sun” is one of the Beatles’ great hits from their Abbey Road album, written by George Harrison at the country house of his friend Eric Clapton. Those were down days for George, and one of the song lines, “Little darlin', it's been a long, cold, lonely winter” might apply as much to George’s life in 1969 England as it will collectively to the upcoming winter in Europe. The sun is shining these days as it is still summer in the Northern Hemisphere, but not for long. News stories abound for those paying attention. From Euronews, “European governments...

Six months after Russia launched its full-scale invasion of Ukraine, signs are accumulating that the balance on the military and economic battlefields is slowly tilting the way of Kyiv and its Western backers. ... Some results of the war already seem settled. Russian President Vladimir Putin’s attempt to rewrite the ending of the Cold War by restoring Moscow’s historic sphere of influence in Eastern Europe has failed. His war on Ukraine has instead united almost all of Europe against him, revivifying the North Atlantic Treaty Organization, which is poised to add Sweden and Finland as new members.