From NOT A LOT OF PEOPLE KNOW THAT
By Paul Homewood
High energy prices are here to stay:
Europeans will pay an additional 350 billion euros ($395 billion) in energy bills next year as global demand for fuel and power threatens to keep prices elevated, according to Greece’s energy minister.
Kostas Skrekas said a new mechanism to help shield the most vulnerable citizens and middle-sized businesses from price increases should be created at the European Union level. It came as officials from Hungary and Spain voiced concern about recent volatility in carbon-emission markets at a meeting of environment ministers in Brussels.
“In the face of this extraordinary situation, we cannot remain uninvolved,” Skrekas said. Greece had estimated earlier this year that Europeans would face an increase of 100 billion euros this winter alone.
Europe’s energy crunch is straining national budgets and has become one of the EU’s biggest political challenges, fuelling inflation just as governments contend with the spread of the omicron virus variant. Member states have come forward with a number of proposals, from a redesign of how the electricity market works to caps on the bloc’s carbon trading market.
Across the continent prices per megawatt hour (MWh) now exceed €300 (£256) in most countries. With the exception of Poland and Scandinavia all countries in Europe have broken the €300 MWh barrier with France and and Switzerland nearly at €400 (£341.60). Head of Analytics at research firm Enappsys Andre Bosschaart said he’d “never seen this kind of volatility and high prices” adding that predictions for tomorrow’s prices suggested France and Germany would break past €400 (£341.60) MWh. Head of Oil and Gas Research at Investec Nathan Piper described the prices as “phenomenally high”, adding that gas prices were now 10 times higher than the US in Europe.
https://www.express.co.uk/finance/city/1538805/european-energy-crisis-prices-gas-nord-stream-two
$395 billion is an incredible amount, presumably on top of this year’s price rise. It equates to $890 per capita.
It is also clear that prices wont come down anytime soon, if ever. Indeed, this is exactly the scenario that the EU has been planning – to push up energy prices so much that renewables are competitive.
The only way to get prices back down is to increase production of oil, gas and coal. Under normal circumstances, rising market prices would incentivise this. However it is EU policy which is holding this back.
With more cold weather coming in February and March 2022, watch it get even worse.
Not a lot of people know that in Australia because like the spiraling energy costs in UK and unlike any and every extreme weather event it has received zero media attention.
It ain’t just Europe. LNG at the Japan-Korea Market (“JKM”) hit $49.35/MMBtu on 21 December.
And this is why I have always been so vociferously opposed to the CAGW cult.
It was only when I started reading WUWT all those many years ago when Anthony started this marvellous site that I learnt how insidious the climate cult was:
if the CAGW zealots were just a bunch of nutters ranting at their little conferences, I wouldn’t care less. But it’s not just that; the CAGW mania has infested every part of our lives and is hitting us in the pocket every day in many ways, be it energy, travel, or consumer goods (to name but a few).
Having to pay through my nose and watch those less fortunate than myself be completely impoverished because of the global warming scam makes me beyond mad.
Even if (or when) the green scam collapses and people realise the idiocy and things return to normal, I will still be angry that so many people suffered because of the likes of that corrupt little weasel Mike Mann and his horrendous compatriots. That huge amount of suffering the green zealots have brought upon this world can never be reversed.
There, that’s my rant over.
I see NPR is neglecting to report the skyrocketing cost of electricity in Europe, the U.K. and East Asia.
This major story is being deliberately and intentionally ignored by NPR. Why?
It’s going unreported by NPR because electricity in Europe and the U.K. now costs TEN TIMES (10×) what electricity costs in the U.S. Why?
The cost of electricity in Europe and the U.K. has skyrocketed because wind and solar-generated electricity has completely and utterly failed.
So NPR buries its head in the sand.
They’ve been burying their heads alright, but I don’t think it is in the sand.
Europeans are a bit like Californians, Following Einstein’s definition of insanity. If you keep voting the same way, you keep getting the same type of politicians. Those are the fools that live perfectly happily off other people’s taxes while pushing those same people into energy poverty. Those political pensions will of course keep up with the inflation they cause. I suspect it might take another French Revolution to sort this nonsense out.
Looks like conditions in the Northern Hemisphere are set up for large cold waves to descend on both continents. The 10 day forecast for my area in NorCal is forecasting 10 F for the 29th of the month. If that holds true, then that will be the coldest temp to hit this area in the last 11 years. You can see the cold wave moving over the Pacific Ocean as it prepares to move inland. … https://earth.nullschool.net/#current/wind/isobaric/500hPa/overlay=temp/orthographic=-123.88,33.99,671/loc=-130.326,37.804
Conditions across Europe are also in a position where a deep cold wave can impact much of Europe depending on surfae winds.
Is La Niña weaker?
http://www.bom.gov.au/archive/oceanography/ocean_anals/IDYOC007/IDYOC007.202112.gif?fbclid=IwAR3knUgbPxaPL1wLIaHS3woTRY02-IiDKtu8e2msUzlRJu-Q5hlOyKcFTuQ
It may be that next year Europe will have a wind surplus instead of a wind drought.
The problem is, who knows?
Certainly not Griff, I don’t recall him predicting this years conditions
Unless “overperform” is a prediction