Posted on 07/12/2022 5:52:49 AM PDT by george76
Europe has been under intense pressure in the wake of Russia’s invasion of Ukraine, with higher energy costs pushing up inflation across the region.
“Unfortunately, inflation continues to surprise on the upside, so it’s once again going to be revised upwards,” said Valdis Dombrovskis, executive vice president at the European Commission.
France’s Economy Minister Bruno Le Maire said over the weekend that Europe needed to prepare itself for a total cut-off of Russian gas supplies.
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The euro zone economy is expected to face higher inflation both this year and in 2023, officials told CNBC on Monday, while plans are being stepped up for the prospect of a permanent cut to Russian gas supplies.
Europe has been under intense pressure in the wake of Russia’s invasion of Ukraine, with higher energy costs pushing up inflation across the region. This economic reality is unlikely to change anytime soon, with new forecasts pointing to an upward revision in consumer prices across the bloc.
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France’s Economy Minister Bruno Le Maire said over the weekend that Europe needed to prepare itself for a total cut-off of Russian gas supplies.
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Europe has been dependent on Russian gas supplies for several years and key industries rely on this commodity to work. This is the case in Germany, for instance, where chemical factories and steel production facilities use natural gas as a raw material.
(Excerpt) Read more at cnbc.com ...
The climate change trannies are opting to have the surgery...bless their hearts.
When you strangle an economy by curtailing fossil fuels and nuclear, pass bizarre rules and regulations to inhibit almost all productive farming, mining, and manufacturing and then print paper currency, this is the disaster you get that leads to hunger, poverty, social and political disorder, loss of freedom and horrible wars. Green lunatics are a cancer within any society.
I’m glad this is happening in Europe. I assume the Europeans are going back to wood and coal. If they don’t this will only throw gasoline on the world inflation conflagration in energy. Here on the Ohio River I’m watching coal fired plants close like dominos falling. I’m told to calm myself because so much of that closing coal capacity was being replaced by natural gas fired generation. The Brussels and DC globalists are in competition as to which can screw us the hardest.
Hopefully, Western Europeans will eventually be using neighbor’s homes for firewood and eating their neighbors children, in perfect harmony with the Environment, where the Strong Survive.
This is going to be meaningless unless they applied tariffs to any country that is importing Russian gas and oil. They need to offset the discounted gas and oil price that these other countries are getting in order to get an unfair competitive advantage
Well, then they’d have the shortage on consumer goods as well.
If I lived in Europe I would be buying long johns and other winter wear. I would be praying for a mild winter.
Germany still plans to shut down 2 nuclear power plants. When you’re dumb, you got to be tough.
Yeah, baby formula
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