/https://www.thestar.com/content/dam/thestar/opinion/editorial_cartoon/2020/03/11/theo-moudakis-four-horsemen/theo_moudakis_four_horsemen.jpg)
Posted on 09/15/2022 2:35:59 PM PDT by Enterprise
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 and electricity prices, which we had to accept within a few months, we are no longer competitive in a market that is 25% supplied by imports. We see an urgent need for political action to get energy prices under control immediately,” said Reiner Blaschek, CEO of ArcelorMittal Germany (Financial Market World).
Another industry sector facing extreme hardship is the bakery industry, which relies heavily of affordable energy. According to Blackout News: “For bakeries, the energy crisis is now worse than the Corona pandemic, according to industry sources. ‘We have the problem as a micro baker that we have to adjust our prices to the raw material and energy prices, of course, which also burdens the customer, if he is also a bit tighter on cash,’ says an affected baker from Heilbronn.”
(Excerpt) Read more at wattsupwiththat.com ...
They elect those idiots
LOL
They chose - - - - - - poorly.
They sneered at Trump. Stupid politicians elected by stupid people. Soon though, it’s possible that millions will learn that life is hard. It’s harder when you’re stupid.
“Yeah, but we sure told Putin off! And besides, us at the top won’t feel it. Too bad, plebes.”
Thanks!
That pic sends chills up and down my back and neck!
Thanks!
Wonder what they have planned for September 24th.?
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