Not taking a side on either Russia or Ukraine, but I knew the European nations would not freeze.
It will cost them, but they can afford to pay more, if anyone can. This is simple logic based on GDP and financial information.
The biggest problem for them was/is they need/ed to pony up and pay more—a lot more. But they can.
The biggest benefit (and it is global) is this really hampers the Greens. So-called sustainable, renewables and “clean” energy (outside nuclear) are not ready to replace fossil fuels, IF EVER.
Sadly, Greta ain’t gonna freeze, folks. The little hypocrite will be warm despite the Russian gas embargo by the Euros.
“This is simple logic based on GDP and financial information”
Yep. EU has financial means to outbid most countries.
Where EU storage levels end when winter is over will be important. Celsius Energy currently forecasts EU storage levels nearly 1/2 full by April 1st. If so, then EU will have an easy time filling reserves again for next year winter.
If storage is much lower, 10-20% range, then much harder and more expensive.
“It will cost them, but they can afford to pay more, if anyone can”
Good point. One issue is what has happened to the places where Europe oitbid them. China would be he most affected, being the world’s largest LNG importer.
“Warmth Drags European Gas to Biggest Weekly Drop Since September
Benchmark futures fell for sixth day, losing 28% for the week
Mild weather forecast for most of Europe through the holidays”
“European natural gas posted its biggest weekly decline since September, driven lower by mild weather which is expected to remain over most of the region during the holiday season.
Benchmark futures closed 9.8% lower on Friday, losing 28% for the week. Temperatures are forecast above-average through early January in many parts of Europe, easing pressure on energy systems. Plentiful supplies of liquefied natural gas, fuller-than-normal inventories and a typical year-end slowdown in industrial demand are also helping push prices down.”