Posted on 10/01/2021 3:34:39 AM PDT by Oldeconomybuyer
FRANKFURT, Germany — Sharply higher oil and gas prices helped push annual inflation in the 19 countries that use the euro to its highest in more than a decade, the European Union’s statistics agency said Friday.
The overall inflation level, boosted by a jolting 17.4% increase in energy prices, is the euro area’s highest since 2008.
Higher prices for natural gas and electricity have spread concern among European governments, which are taking steps to limit rises in residential utility bills through subsidies and tax cuts.
(Excerpt) Read more at apnews.com ...
I hope Putin soaks them for natural gas. And the dumb Merkel closed all German nuclear! BWAHHHAHHAHA!
Biden’s stupid policies mixed with stupid commie influence will bring down the world. We get a cold - the world gets the flu...
I hope freezers were smart enough to buy oil and gas 11/6/21. It’s been fun. As I explained to a liberal at the time who thought I was crazy to do so. “I don’t believe in the battery fairy. You have to charge those batteries somehow”.
Freepers not freezers. Doh
“The overall inflation level, boosted by a jolting 17.4% increase in energy prices, is the euro area’s highest since 2008.”
Like big deal. Where I live in Texas, the price for contracted residential electricity has risen 26% in 6 months. I suspect it’s due to natural gas prices shooting up (which is good for Texas and other red states, by the way).
I clicked the article to see if it mentioned power plants being shut down. To my shock and surprise, it wasn’t! “Tight supplies, cold winter, Russia” but no mention of idiot pinko-greenies shutting down power plants.
The problem is not energy inflation
The problem is that demand exceeds supply and thus the price increases. That is ordinary market economics
I live in the Central Valley, California. Last month our electric bill was $701.00. I hope they get one like ours in the summer.
It’s coming to America. It will be an expensive Winter. So much for not taxing anyone under 400k in income. A 25%-35% increase in energy is a major blow to middle income folks who aren’t subsidized.
I live in Spain where energy prices are skyrocketing for nothing you mentioned. The price of offsets the EU forces on Spain is what is driving the increases.
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