Posted on 10/19/2021 7:04:17 AM PDT by Oldeconomybuyer
Power shortages are turning out streetlights and shutting down factories in China. The poor in Brazil are choosing between paying for food or electricity. German corn and wheat farmers can’t find fertilizer, made using natural gas. And fears are rising that Europe will have to ration electricity if it’s a cold winter.
The world is gripped by an energy crunch — a fierce squeeze on some of the key markets for natural gas, oil and other fuels that keep the global economy running and the lights and heat on in homes. Heading into winter, that has meant higher utility bills, more expensive products and growing concern about how energy-consuming Europe and China will recover from the COVID-19 pandemic.
The biggest squeeze is on natural gas in Europe, which imports 90% of its supply — largely from Russia — and where prices have risen to five times what they were at the start of the year, to 95 euros from about 19 euros per megawatt hour.
The crunch is likely short term but it’s difficult to say how long higher fossil fuel prices will last, said Claudia Kemfert, an energy economics expert at the German Institute for Economic Research in Berlin.
But “the long-term answer that has to be taken out of this is to invest in renewables and energy saving,” she said.
(Excerpt) Read more at apnews.com ...
I just paid $3.69 / gallon for propane.
Headline implies there is a current global recovery..
Store firewood.
Back in the 60’s I had been drafted and was in the Artillery at Ft Hood, TX. We were on a field training exercise, and my team had to spend a night on top of a hill, calling in artillery. It was howling wind and freezing. My radioman said he was turning into a Russian - Ivan Frozemyassoff.
That’s what’s going to happen in merry old England.
Cold kills.
We can survive it being a little warmer.
Hey, Joe! Take a bow, you dufus. Killing the Keystone Pipeline started a chain of events that coming back to bite you in the butt while you take your bow.
Article leaves out the biggest thing supporting oil prices. OPEC+ is producing 750,000 barrels a day LESS than its agreed upon (already limited) production.
And due to some infrastructure issues that’s not going to change quickly.
Ouch!
L
“MOre renewables” is how we got IN to this situation!
“Store firewood.”
Yep. Only those with wood stoves, fireplaces, or can get away with building a campfire will have an advantage. They are hell bent on placing everyone in a situation of basic primitive survival.
Just wait until they say - no more dollars. pay us in gold
Why would Europe be worried about Winter?? Considering they are feeling the Heat from out of control man made Global Warming that has sent the earth into a cataclysmic event of BURNING UP with no end in sight.
This must be FAKE NEWS!!!
ps, if they put 200lb blocks of Dry Ice in thier homes, the Greenhouse Effect it causes as the CO2 dissipates it will HEAT YOUR HOUSE!! It’s called SCIENCE and there is a Consensus declaring such.
“Just wait until they say - no more dollars. pay us in gold”
That’s not happening.
But, but the AP just said earlier “Global Warming” is warming the earth so much that African glaciers are disappearing...
We won’t need heat because of “Global Warming”....
AP said so, so you know it’s fact....
What the world has done to itself is tantamount to a man thinking he can fly and jumping off a bridge to prove it.
The COVID depression that was shorter than expected is the problem not the pipeline. Same as every other shortage and supply chain problem. The world prepared for a giant depression and got a boom instead. The world can’t push a button and be on the other foot. It’s going to take time to ramp back up.
That’s not happening.
Then what are you worried about? If you are correct, then Fed.gov can issue any amount of debt, and the Federal Reserve can monetize that debt with "printed" money. The USA will always have money to buy OPEC oil.
Life thrives in warmth. Which is the richer ecosystem, the Amazon basin or the Canadian tundra? And plant growth expands exponentially as concentrations of CO2 increase. A warmer global climate, induced by our great yellow planetary furnace in the sky, has caused expansion of life on this planet for the past 12 thousand years. How reasonably intelligent people can buy into the Global Warming scare is a strong indicator of how easily led our species truly is.
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