Posted on 03/29/2022 5:01:30 AM PDT by Oldeconomybuyer
FRANKFURT (Reuters) - Russia's demand that some buyers pay for its gas in roubles has raised concerns in Germany, which relies on Russian fuel, that the payment dispute could escalate and disrupt supplies.
Russia accounted for 55% of Germany's gas imports in 2021. Although that figure fell to 40% in the first quarter of 2022, Economy Minister Robert Habeck has said Germany will not achieve full independence from Russian supplies before mid-2024.
If Germany does not secure enough gas, industry will be hit first. It accounts for a quarter of German gas demand.
"This means that industrial production gets lost, that supply chains get lost," Leonhard Birnbaum, chief executive of German energy group E.ON, told public broadcaster ARD. "We are certainly talking about very heavy damages."
Private households will have priority over industry, while hospitals, care facilities and other public sector institutions with special needs would be last to be affected by a disruption.
(Excerpt) Read more at money.usnews.com ...
By mid-2024? LOL.
Lot of windmills and solar panels to build in a year. All the greenies and politicians need to put on their work cloths and get to work.
Is anybody taking bets on what happens if Rubels do not show up in Russia by 4/1/22??
My bet is they show up or Germany caves on sanctions.
Putin playing 4D chess again.
Uummmmmm. They’ll get cold?
Scholz lied on 2024, saying Qatar is going to replace the Russian volumes. Qatar said it is not going to happen. One reporter asked why Scholz is killing the business and middle class. Scholz went ballistic. That’s check-mate. The gas is $12 per gallon in Germany and is going to double if they don’t cave to Putin.
Trump read from his crystal ball when he explained to Merkel what is about to happen. The German people are lucky in the fact that spring has arrived.
Coal plants will be re-opened.
you really want the world to cave to your President, Putin, right?
The sanctions aren’t biting into your spending there in Russia?
Germany has a sophisticated economy and could build a large number of emergency generators and power them with gas or (shocked indrawn gasp of horror!) diesel. In the meantime, they could rotate power outages. But they need to decide as a nation whether they are western or a vasal state of Russia.
I don’t doubt that you are ready to sell your own country for a Big Mack.
Do you know that there is also a shortage of diesel in Germany?
It means Germans shiver in the dark.
Better take all that Gaia worship you’ve engaged in and chokeslam it into reverse. That’s the only way you’re going to have security.
Gasoline prices in Germany haven’t got anything to do with Natural Gas from Russia.
Natural gas is used for: Electric power generation, heating (home and industrial/commercial) and some industrial processes. All of the above can be and have been substituted by other fuel sources before. There will be serious issues converting from some, others not so much.
The big problems may start next winter.
Buy your BMW or Mercedes now….
The high cost of, and shortages of, liquid fuels in Germany and other parts of Europe are entirely self-induced by policies and taxes. It can be much more easily rectified than their other self-induced problems of having closed their coal fired power plants and their nuclear power plants.
Politics is doing whatever is necessary to make the immediate pain go away. Leadership is taking the harder course and explaining to the voting public why it is necessary. The Greens have brought this situation on, and the Germans need to understand that.
Fortunately for Germany, winter is almost over.
They better get busy re-commissioning their nuke plants that they shut down before next winter, though.
Not so much. Part of the Green Cult Religion is that evil coal plants were not sidelined, but dismantled so they could never do more evil in the future.
“Pickling” a complex plant for easy future restarting is not a simple matter. Many of the old plants were virtually wrecked.
The greens are in charge, do not expect it from them. The refusal to buy gas is going to make it worse.
The only difference between before this war and after it ends is Germany will continue to buy increasing volumes of Russian natural gas and move ahead with Nord Stream 2 because it is cheap relative to other gas alternatives but it will build LNG ports as emergency backup to get LNG from the US or Qatar should they run into another situation where the West wants to impose energy sanctions on Russia.
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