Skip to comments.Europe’s Climate Lesson for America. As wind power flags, energy prices are soaring amid fuel shortages.
Posted on 09/14/2021 7:14:08 PM PDT by karpov
Energy prices are soaring in Europe, and the effects are rippling across the Atlantic. Blame anti-carbon policies of the kind that the Biden Administration wants to impose in the U.S.
Electricity prices in the U.K. this week jumped to a record £354 ($490) per megawatt hour, a 700% increase from the 2010 to 2020 average. Germany’s electricity benchmark has doubled this year. Last month’s 12.3% increase was the largest since 1974 and contributed to the highest inflation reading since 1993. Other economies are experiencing similar spikes.
Europe’s anti-carbon policies have created a fossil-fuel shortage. Governments have heavily subsidized renewables like wind and solar and shut down coal plants to meet their commitments under the Paris climate accord. But wind power this summer has flagged, so countries are scrambling to import more fossil fuels to power their grids.
European natural-gas spot prices have increased five-fold in the last year. Some energy providers are burning cheaper coal, but its prices have tripled. Rising fossil-fuel consumption has caused demand and prices for carbon permits under the Continent’s cap-and-trade scheme to surge, which has pushed electricity prices even higher.
Russia has exploited the chaos by slowing gas deliveries, ostensibly to increase pressure on Germany to finish the Nord Stream 2 pipeline certification. Vladimir Putin last week took a swipe at the “smart alecs” in the European Commission for “market-based” pricing that increased competition in gas, including from U.S. liquefied natural gas imports.
Mr. Putin can throw his weight around in Europe because the rest of the world also needs his gas. Drought has reduced hydropower in Asia, and manufacturers are using more energy to supply the West with more goods. Due to a gas and coal shortage, China has rationed power to its aluminum smelters and aluminum prices this week hit a 13-year high.
(Excerpt) Read more at wsj.com ...
Although I think it’s ridiculous to worry about Russia invading Germany, it amuses me to think that the Germany military runs on oil — which is supplied by Russia. And German homes and industry run on solar and wind power — which they don’t have enough of.
Just a fluke. It will soon pass there will be strong and reliable wind forever.
Germany generates some electricity from “renewable” wood pellets. The pellets were supposed to be byproduct originally, but now there are pellet factories in NC uprooting trees and scraping the land bare by the thousands of acres of forest. Also Texas.
So very green.
Energy use is directly proportional to economic productivity
Money is claim on productivity.
Massive debt and money-printing by the West will be massively inflationary unless even cheaper, more dense energy sources are found and used.
in fact, we are going the other direction - using massive debt and fiat money to bring forward LESS dense sources of energy.
NOPE, all those windmills are slowing the earths rotation and causing the weather to change. Prove me wrong.
Chasing a delusion about CO2 is expensive and stupid.
TEXAS … Are you paying attention to this? IT’S TIME FOR A COURSE CORRECTION! Because other states and countries are being incredibly stupid doesn’t mean you need to follow them into chaos.
“ NOPE, all those windmills are slowing the earths rotation and causing the weather to change. Prove me wrong.”
There’s a giant Troll under a bridge in our community. Prove me wrong.
Woods pellets from North America are used in the Drax power plant in the UK.
I thought that was the plan...soaring energy prices and fuel shortages
Astonishing, isn’t it? When you put it that way...
I do not know about the rotation, but there are definite effects of windmills on the climate. Apparently, there is a measured warming downwind of the windmills.
link to article without paywall:
“Massive debt and money-printing by the West will be massively inflationary unless even cheaper, more dense energy sources are found and used.”
The most inflationary instrument in world history:
“Is the convoluted overpriced real estate market.”
Real estate will stay high the longest before it “deflates a bit” sometime in the 2030’s.
Since 1789 we’ve had a few deflationary cycles, lasting a variety of years.
None of them were because of an energy supply problem. The problem is always an unhealthy expansion of credit/debt to private individuals and businesses, as related to the productivity of the overall economy.
When PPP loans, stimulus, unemployment benefits, and central bank Treasury purchases cease.
Only one axiom will exist:
“It’s only when the tide goes out that you know who’s been swimming naked.”
Would not bother to try.
Who needed Europe?
Just look at the cluster foxtrot that in NYS.
Indeed. It's just "transitory".
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