“How much of Germany’s chemical industry relied on Russian natural gas?”
Thanks to Merkle Germany’s entire economy is reliant on Russian gas. The gas forms the base for much of the rest of the economy, not just in energy, but in the base chemicals from which everything else is made. Replacing that gas requires a lot of new infrastructure and considerably more expensive base chemical industries.
There are other issues. Germany and much of the Western world has stopped having babies. They did this decades ago so the entire workforce is aging out and facing retirement. The retirees are promised a generous retirement package was supposed to be paid for by the younger workers, of which there are too few. (This is probably because housing is too expensive, and nobody can afford a house big enough to both have kids and to live close enough to have a job.)
As the article mentioned, the green energy stupidity has cost amazing amounts of money and will never pay for itself or provide enough energy. Germany has been lying about how much of their energy is green. The sun doesn’t shine enough to use solar cells, so it takes seven times as many to equal the amount you’d get from, say the American west. The wind farms don’t work as there isn’t enough reliable wind. The result is the dirty coal and politically divisive nuclear plants must operate continuously because you can’t just spin them up when the wind dies, and the sun don’t shine.
Most of the problems Germany faces are of their own creation. But, like an alcoholic, they’ll have to hit rock bottom before they face the financial and political realities of their situation. I do have to say I’m impressed they didn’t bow to Russia’s energy blackmail.
This is the major problem with Italy. Which has led to many houses being abandoned or drastically reduced in price.
Leading to a oversupply of houses throughout the country, but mostly in the countryside away from the cities.
Even in Tuscany, you can now get great deals on estates and country homes in comparison to what they once were.
The real cheap properties are available in Calabria in Southern Italy. Down in the boot there are water front homes available for under $400K. Apartments for under $300K. Right on the Mediterranean. Italy is now the number one country for American & British Expats to buy real estate. Plus THEY WANT Americans to move there. They actually like Americans and Brits. They still hate the French though.
I’m really surprised (disappointed in) at you: “I’m really impressed they didn’t bow to Russia’s energy blackmail.”
Do you mean after Washington’s arm twisting and Biden’s Nordstream terrorist act ?
They don’t even have any nuclear power plants anymore. The Greens demanded they sacrifice those too so they did.