Good macro NG information. But Norway can up its capacity. Russia provides about 1/3 of needs. So, it will be tight and prices will increase, but Europe will get by, they aren’t going to freeze. They have been preparing for this for a long time.
The reliance on alternative energy has proven to be a failure, put politicians are screwups. Business will get them through this if Russia invades.
Making the Euros burn more coal is going to be a huge lesson in regards to Russia.
One of the reasons Germany relies so much on natural gas is that they’ve pretty much outlawed coal, and “alternative energy” forms like wind and solar power have been an abysmal failure. It reached the point of absurdity when Germany decided to deal with the failure of these energy sources by simply declaring that — get this — natural gas is now a form of “clean energy.” LOL.