They will a lot more than gold...
~~~~~~~~~
Time to wheel this guy out....
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Posted on 09/06/2022 6:46:01 PM PDT by Jonty30
European energy companies are facing margin calls of a total of $1.5 trillion in the derivatives market and many would need policy support to cover them amid wild swings and skyrocketing gas and power prices, an executive at Norway’s energy major Equinor told Bloomberg on Tuesday. According to Helge Haugane, Equinor’s senior vice president for gas and power, the $1.5-trillion estimate is even “conservative”.
(Excerpt) Read more at oilprice.com ...
Wonderful.
A Lehman event is when it becomes obvious that the entire system is about to fail.
It, theoretically, happens so fast you won’t be able to react. That’s why it’s a good idea to think ahead.
(Hint: Dollars won’t help you.)
What it means is that if consumers want to buy energy of any sort on the open market, they will pay four to six times as much in November that they paid in August if its available at all. Smart Europeans stopped going to gyms and got their exercise chopping firewood. Fermenting wild berries, acorns and rotting fruits was a good idea as well.
The bill will get paid by the governments. The energy crisis in Europe is about ready to go ballistic. Soon Europeans will be paying the equivalent of $500 per barrel in natural gas.
Quick, check the sofa cushions for spare change!
It sounds like it.
China
Europe
US
Food
Energy
Transportation of goods.
Those of us, who were not liberals, explained it to them what would happen.
They laughed. And laughed. And laughed.
Who was Lehman?
As someone posted on another thread, maybe the Europeans can burn solar panels in their wood stoves.
They will a lot more than gold...
Dominoes too big to fail. History repeats itself in ever tighter cycles of more intense stupidity.
The volatility in oil and natural gas futures is nuts right now. It’s definitely not a market for little guys. I guess the same holds true for large energy companies. It’s the same problem, just multiplied by the number of contracts.
Countdown to Europes energy companies being nationalized.
Well I can definitely say the least common children’s name in European countries chosen for newborns will be “Greta” for the next 20 years.
World Wars 1 and 2 were fought on European soil. Here we go again. In spite of Joe biden, the US is still for intents and purposes energy independent.
“The Great Reset” means nobody owes anybody anything.
Its gonna be rough.
They will a lot more than gold...
~~~~~~~~~
Time to wheel this guy out....
I thought they already were nationalized.
The slowing of economic activity and severe recession will cut down the demand for energy and goods. The price of energy and inflation will be mitigated. However the suffering of people and actual deaths will increase. Green lunacy leads to the decay of civilization. If Europe still had coal and nuclear generated electricity, this crisis would not be happening. The suffering is all self inflicted.
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