Posted on 09/07/2022 7:24:48 AM PDT by dennisw
Big banks in Europe are preparing for an energy crisis as Russia tightens the gas taps, per Reuters. JPMorgan may use diesel generators, while Deutsche Bank turned off fountains and hot water. The insurer Zurich said it could close its gym and some office floors if the situation worsens. Major banks across Europe are implementing measures in the workplace to cut down on energy consumption as Russia tightens its gas supply to the continent.
The Kremlin shut off its natural-gas flow to Europe via the key Nord Stream 1 pipeline last week and said it wouldn't reopen it until the West lifts sanctions against Moscow put in place after Russia invaded Ukraine in February.
Reuters reported on Wednesday that global banks in Europe had started to crack down on their energy use to prepare for rationing and power cuts before winter.
JPMorgan's locations in Europe have carried out power-outage simulations to help prepare for a loss of power, a person with knowledge of the matter told Reuters. The person also said the bank could use diesel generators to keep some offices operating for a few days if the situation worsens.
(Excerpt) Read more at msn.com ...
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The German banking giant Deutsche Bank told Reuters it was switching off hot water in bathrooms, changing the temperature in offices, and turning off the fountain outside its main office in Frankfurt. The bank also told the publication it was switching off lit-up outdoor ads and some lighting inside its workplaces overnight.
The Swiss insurer Zurich told Insider it planned to turn off office lights overnight and stop using decorative features that use energy, including fountains. It said that if the energy crisis gets worse, it would close services like the company gym and open only certain floors of its offices.
The stock-exchange firm Euronext told Reuters that it had backup generators and that it had reevaluated its energy usage since the beginning of the war.
UniCredit, one of Italy’s largest banks, has power supply from two independent power stations that could provide energy to two of its data centers, a source told Reuters, without disclosing how long the power would last.
France’s largest bank, BNP Paribas, has also taken steps to protect itself from supply cuts, Reuters reported, citing a source close to the bank.
Apart from JPMorgan and Zurich, the companies mentioned in this article didn’t immediately respond to requests for comment from Insider.
It’s not just banks that are cracking down on power consumption this year. European governments have introduced measures ahead of winter to prevent energy shortages. Germany has barred “energy-intensive heating” of private swimming and bathing pools, while Finland has urged people to spend less time in saunas and showers.
Q. What did socialists use for light before candles?
You know the answer.
Stopping fountains is going to lead to Legionnaires’ Disease.
The European Energy problem was all caused by Demented Joe when he shut down the American Energy production and gave the Nord Stream pipeline his blessings. Maybe it was part of payments to Hunter.
Say What?
Now why would you post a truth when “some” on here, know for a fact that none of it is true?
Cant have facts get in the way of things can we now.
See tag line.
Europe needs to give up, take the L, and ask Russia what they need to do to get the fuel turned on again.
Das iste derpspunknkinnofkngaasssundbankinfreudel
EU will propose a “mandatory target for reducing electricity use at peak hours” in order to “flatten the curve.”
https://twitter.com/disclosetv/status/1567462388898594816
Flatten the curve. THEY get the lights, a/c, heat in the winter and you get nothing!
But Germany had enough fuel to send a government jet to pick up the Harkles...
You’re assuming that the Deep States of EU and Russia aren’t in on this together.
FWIW, I wouldn’t make that assumption.
Is there enough cash circulating in Europe to make do with when all the banking data centers go down and credit cards and electronic transfers cease?
I am pretty sure that the Sov, er, Russians are opposed to the WEF and the Globo-homo agenda.
This week in Germany, a major paper company (they made toilet paper among their products) went bankrupt. Hackle was the name. Had existed for 94 years.
So their problem went to two issues. One was rising natural gas which was used in processing paper products, and the second was logistics jams in the system (they could not deliver on a scheduled basis because of a lack of drivers....not trucks).
A lot of German companies are bringing up the driver issue. I stood in a German butcher-grill shop yesterday, and customers lined up. No ketchup. He’d had a order with his normal distributor company for a month, and they could not make the delivery in the typical two weeks or even four weeks...because of a lack of drivers.
And they’re running those diesel generators on what? Unicorn farts? Green is the new Red.
They should just spin their windmills faster and shine flashlights on their solar panels, problem solved!
Every time I see that video of President Trump at the UN talking about the dangers of relying on Russian gas and those stupid krauts smirking, it just puts a huge smile on my face. I hope they freeze in the dark this winter.
What about Frau Merkel's 1.5 million "guests"? Don't they want jobs? /s
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