Essay by Eric Worrall
h/t JoNova; Germany’s renewable policy inspired energy insecurity has reached crisis levels, with Germany’s Vice Chancellor warning of “Lehman like” economic contagion if energy prices rise any further.
Germany says its energy crisis may trigger Lehman-like contagion as the country moves a step toward to natural-gas rationing
Huileng Tan
Jun 24, 2022, 3:47 PM
- Germany’s economy minister warns of a “market collapse” if natural-gas prices continue to soar.
- Germany has triggered the second stage of its three-stage emergency gas plan on supply fears.
- That’s after Russia —citing a techincal reason — slowed piped natural-gas supplies to Germany.
Germany warned the country’s energy crisis may trigger a “Lehman effect” across the utility sector as it moved one step closer to rationing natural gas.
Germany — Europe’s largest economy — moved into the second of its three-stage emergency gas plan on Thursday after Russia slowed supplies to the country, exacerbating concerns over an energy crunch. These supply fears have already driven European natural gas futures up by 85% year-to-date.
Under the second stage of Germany’s emergency gas plan, utility companies can pass on price increases to customers. The government is holding back on triggering the clause for now. But Habeck said they could kick in if the supply crunch and price increases persist, as energy suppliers that buy power on the wholesale market are running up losses and many could ultimately fail as a result.
…
Russian state gas giant Gazprom has cut natural-gas supplies via the Nord Stream pipeline to Germany — which also goes to the rest of Europe — by more than half since last week, citing an equipment hold-up in Canada as a result of sanctions over the Ukraine war.
…
“We mustn’t delude ourselves: cutting gas supplies is an economic attack on us by Putin,” said Habeck in a statement on Wednesday. “It is clearly Putin’s strategy to create insecurity, drive up prices and divide us as a society. We will defend ourselves against this.”
…
Read more: https://www.businessinsider.com/germany-says-energy-crisis-may-trigger-lehman-like-contagion-2022-6
What was the name of the former US President, who warned Germany their green policy driven dependence on Russian gas would lead to disaster? I’m sure readers can remind me.
More information about the growing energy chaos in Germany:
19.7% of German people suffering energy poverty
ResearchGate / University of Florence – Energiewende caused a near doubling of energy prices
Germany cutting the renewable energy surcharge to help the poor – but not eliminating it
German wood theft on the rise, as people steal wood to stay warm
Germany could ration gas this winter
Imagine if instead of wasting well over a decade inflicting useless green energy failure on their people, German politicians had spent the last decade facilitating the development of their own domestic energy resources – cheap and reliable power from their abundant coal, and more nuclear reactors, which only need to be refuelled every other year, to insulate their economy from energy price shocks like the German people are currently enduring.
As my grandfather (who grew up on a California cattle ranch) used to say:
Looks like the chickens are coming home to roost. Gonna be some chicken shit.
In addition to industry and home heating nat gas use, Germany was paying underutilized CCGT like at Irsching in Bavaria to maintain uneconomic standby to cover wind and solar intermittancy. No natgas, no backup, then blackouts because there isn’t enough north-south transmission to cover southern Germany from Norwegian hydro. That only works in northern Germany down to about Frankfurt.
Going to get very interesting this coming winter. As in the old Chinese curse: ‘May you live in interesting times.’
It’s worse than that. They encouraged the war in Ukraine and keep supplying weapons and the same time as setting up the EU circular firing squad of sanctions. So German bullets are killing Russian men, again. When such sanctions cause the maintenance of their pumps to be missed, they accuse Russia of an act of war. The people aren’t that stupid, they can see a cluster fuxx when it goes off and doubles their heating bill. The serial stupidity is alarming.
And it seems to be contagious.
What exactly is causing a global pandemic of stupidity and almost feral subjugation to modern socialism?
Is it something we ate? Like maybe the media?
I often wonder the same thing. It is the media but, worse, I think it is the decline of the western education system.
“Ours may become the first civilization destroyed, not by the power of our enemies, but by the ignorance of our teachers and the dangerous nonsense they are teaching our children. In an age of artificial intelligence, they are creating artificial stupidity.”
Thomas Sowell
“In a democracy, we have always had to worry about the ignorance of the uneducated. Today we have to worry about the ignorance of people with college degrees.”
Thomas Sowell
“Our schools and colleges are turning out people who cannot feel fulfilled unless they are telling other people what to do.”
Thomas Sowell
Communism in our schools, political bodies and businesses all paid for by the communist party in China.
you are talking complete crap.
~ “They encouraged the war in Ukraine” WTF??
Of all the embarrassment the Germans were the very last of the half hearted plonkers to come to help UA. (ukraine).
van der lamer is an embarrassment to all.
better get your facts straight before spouting BS.
Look up the Minsk accords. Germany and France were supposed to guarantee their implementation. The failure of Ukraine to follow these accords is the main reason for this war.
Germany and France stood by and did nothing. They followed what the US and NATO wanted and look where they are now.
Or this, which immediately came to my mind when I read this article.
Germany is about to learn, again,
Wi e man in den Wald hineinruft, so shallt es herous.
As you sow, so shall you reap
Galatians 6:7-8
How many times was Trump correct in his future state predictions? Maybe not always 100%, but it seemed like he called it correctly more often that not.
Certainly more often than Biden.
Two aspects: his predictions, and his promises. Very high batting percentage on both. Only thing he didn’t adequately foresee was the scale of the 2020 stolen election. But that is now coming nicely into view. Four proof elements:
Like AGW, the MSM is controlling the biased narrative in favor of the Marx Brothers. I just read where Soros is buying up Spanish language radio stations in the USA.
Democrats are pumping the country full of Spanish speaking illegal aliens, they are planning to push for amnesty, Democrats are importing future voters. At least that’s what they believe.
But 2nd, 3rd, etc Hispanics are much more likely to vote Republican than Democrat. This open border is going to bite the Dems big time. Hispanics are social conservatives-they don’t vote for people who don’t even know what a woman is.
Amnesty is not citizenship, which is needed to be a registered voter. Amnesty is a Green Card, a right to work and pay taxes and receive welfare.
True, but in many Blue precincts, none of that matters. Any warm body will do and cold, long dead bodies are welcome to vote, as well.
“I yelled at my grandparents for an hour this morning because they voted for Biden………Then the Police told me I had to leave the cemetery.”
But the DIMS will then move to give them voting rights. Already happened in several liberal states.
And, the immigrants feel no loyalty to Americans. The illegals are told we are racist, hate them. The democrats plan to flood the lilitary with foreign immigrants who at best are indifferent to Americans. Or at its worst feel we hate them and will hurt them. It is this type of foreign manned military that despises ordinary Americans that the democrats can use against us.
Actually many of them want to be Americans, and many will vote Conservative if/when they can. Many just want to make money and send some of it back home, and they don’t care/vote. Those that have been here and settled know the difference between hate and acceptance.
There have been a number of enquiries into claims of voter fraud in the last presidential election. In the very few cases where fraud was found to have occurred, there was one illegal vote for Trump. https://www.politicususa.com/2021/10/25/the-2020-voter-fraud-has-been-found-and-it-was-committed-by-republicans.html I wonder whether this had anything to do with the judiciary’s blanket refusal to hear any of the many major fraud accusations by Republicans. https://m.washingtontimes.com/news/2020/nov/29/trump-judges-refuse-look-election-fraud-evidence/
It seemed to me at the time that the best way for Joe Biden to handle the fraud accusations was to hold comprehensive open enquiries into all the fraud claims so that they could all be laid to rest and the public’s faith in the system could be restored. It didn’t happen. At all. So the clear implication is that there really was widespread fraud. I suppose we will know one day, when it’s all too late.
Mike Jonas
You nailed it in your second paragraph. There is another matter you have overlooked. If there was little or no fraud, it would have served the Democrat party well to prove this in an open investigation and discredit the claims. Their refusal to do so is not the action of a confident party but of one that had to hide corruption at any cost.
Now if you posted links to unbiased sources they might be worth taking seriously.
Just been to Politics USA. It’s full of left-liberal propaganda.
While a stolen election is plausibly true, there is nothing other than educating the populace that can be done at this late date. Lets concentrate on strengthening election procedures such that it can’t happen in the future.
The political class (Democrat and Republican), Deep State, academia, crony capitalist, NGO and (especially) media hatred of an outsider combined with the social and economic upheavals of the ChiCom virus resulted in President Trump’s loss. Nobody voted for Let’s Go Brandon.
With such enthusiasm, how could LGB not win!
Since both Trump & Pence were outsiders, they didn’t realize the Swamp was actually a
much deeper Sewer, with corrupt vested interests everywhere. His insider advisers were
corrupt/weak & they chose similarly corrupt/weak people to fill the jobs. The wolves
attacked even before he took office & he was ripped to shreds, despite all his efforts
to push back. The Wuhan Flu allowed even more attacks as the states could rip at him,
too. While he knew that the arrows would be coming from illegal election activities-
includingthe Big Tech contributions/censorship/Zuckerbucks- his election team seemed
way too flat-footed to counter them. I also think Trump used polling #s showing he’d
win in 2020, thus making him over-confident & didn’t bother to look for mules.
This time around, he has experience, with loyal people from several of the corrupt
areas who know who to trust, where to find rats & how to ferret them out. He’ll need
to focus on inflation & crime as election issues, as those are the two areas where the
self-absorbed middle are feeling pain. (They could care less about corruption.) Once
the pain’s gone, they’ll vote for whoever promises them the most goodies.
In 2022, the Dems will try to use rioting as they did earlier on with Antifa & BLM, but
rioting, which is used to fire up his supporters, could backfire as most people are tired
of violence. They’ll use mules & other ways to get extra votes. They may create crises
where lockdowns can be used. Since the middle has had freedom for a while, they’ll
probably resist more than in the past.
With the MSM having been exposed as liars, they may need to use censorship, like with
Minitrue, Gina McCarthy, & VP Giggle’s Task Force. Along with that, LGB “ordered all
600 federal agencies to “expand citizens’ opportunities to register to vote and to
obtain information about, and participate in, the electoral process” on March 7, 2021”.
Since we tend to fight the last war’s battles, that may be where Biden’s “secret
weapon” be hidin’!
Long-term, the only real fix in DC involves using the Constitutional Convention clause
to add/change Constitutional amendments, including getting the election of the very
corrupt Senate back to the states. Sen Reid (NV) removed the Senate filibuster to get
corrupt judges in the DC Circuit so all of the misdeeds there would never get punished.
He also pushed through corrupt bureaucrats to be able to take over justice, intel & the
military, three traditional conservative strongholds. With Chief Justice Roberts
appointing the FISA judges, that will also stay corrupt. (Trump did get the 3 Supremes
through which gave us 3 BIG wins last week after Sen McConnell dropped the filibuster
on those, too). There are a lot of rats everywhere.
https://www.washingtonexaminer.com/policy/defense-national-security/nina-jankowicz-report-kamala-harris-online-task-force
https://thefederalist.com/2022/06/23/yes-biden-is-hiding-his-plan-to-rig-the-2022-midterm-elections/
Don’t forget the two traunches of votes that came in late on election night. You cannot have 138,000 votes come in without a single vote for Trump. Making the entire 138,000 votes fraudulent. There was a second traunch that came in with 280,000 going to Biden and only 5000 for Trump. There is no demographic that will vote in that extreme with that much population count. Since five states had precincts that shut down at before counting concluded and reopened at 4 am, you can bet that all five were dealing in illegal votes. Questions need to be asked of statisticians.
The Census post-election poll sample estimated 4 million more votes than cast.
It previously consistently estimated MORE votes than cast.
Some people who did not vote claim they did.
The results in 2020 were unprecedented.
The bellwether counties survey, Census post-election poll and the mules are high level evidence of unprecedented fraud. But they don’t change a single vote.
The Constitution allows until January 6 to prove election fraud. We still don’t have proof that enough SPECIFIC ballots should not have been counted to change the election results. Each illegal ballot requires proof that is was an illegal vote.
That should be 4 million FEWER votes than actually cast in the first sentence
(the edit button wouldn’t work for me)
Joe Biden brags about having “the most extensive and inclusive voter fraud organization in the history of American politics”
https://twitter.com/RNCResearch/status/1320107186241048579
Trump may be a jerk with an undisciplined Twitter finger, but with his policies and their execution under his leadership, we had peace and prosperity.
Don’t worry: The politicians will blame an over-reliance on FF as opposed to the fabulous green renewables and Putin. I wonder if it will work in the near to long term?
That “blame game” is already afoot.
Yep, very predictable response: “We warned you that you that it was urgent to move to renewables quickly, but you moved to slowly and didn’t invest enough in it. This is your fault, not the failure of renewables.”
It’s been working so far, so no reason to think that it won’t continue to do so.
Second time in less than a century that Germany finds itself in a crisis from listening to the wrong people. Don’t know if they will ever learn.
That is so true. I look at useful idiots like Prince Charles and cannot help but think that he has been badly misinformed by people he should be able to trust.
The whole climate farce is making fools of a lot of people. Many do not realise it and they may die before the realisation hits.
The past decade will prove to be one of the greatest waste of resources in human experience. I am going to lay the blame squarely on the shoulders of Syukuro Manabe. His incompetence at climate modelling has spawned this mess. He knows the models are useless but he has not been vocal in pointing this out.
I don’t disagree but I tend to believe it’s not a case of Prince Charles being misinformed but of his being of the inbred House of Windsor and incapable of rational, intelligent thinking.
Isn’t socialism fun? The government tells private companies they must eat the losses caused by the government’s mismanagement of the energy supply systems. Goose and golden eggs come to mind.
That’s the variant of socialism that we (the rest of the Western nations) supposedly ripped out root and branch in 1945.
Unfortunately, any kind of socialism tends to be like some of the flora here in the desert Southwest. Virtually impossible to kill off, and always comes back to infest your yard.
W.O., I’m not so much worried about the flora here in the desert Southwest (Nevada). Its the Leftist political fauna that seems to be infesting our political yard.
“Russian state gas giant Gazprom has cut natural-gas supplies via the Nord Stream pipeline to Germany — which also goes to the rest of Europe — by more than half since last week.”
I wonder if German ex-Chancellor Schroeder, who was rewarded by a seat on the board of Gazprom, voted for or against.
Schroeder seems to be having his cake and eating it too as a result of his then-Chancellorship’s “change through trade” policy with Russia: 1) Close personal friendship with Putin; 2) Chairman of the Board of Nord Stream2 AG; 3) sitting on the Gazprom Board; 4) sitting on the Board of Russian energy giant Rosneft until recently; 5) about a million euro per year from the Russian energy industry; and 6) a pension of about 100,000 euros per year from Germany.
I’m sure Schroeder is, however, devastated by his loss of his plush German government offices, having to decline a supervisory role on Gazprom’s Board and not being taken seriously in his offer to mediate the Russia/Ukraine conflict.
This is misleading.
Gazprom wants to sell as much gas to the EU as possible.
Profits are very high at current prices.
They want to be paid in currency they can use.
Thanks to sanctions they must get Rubles for their gas.
If Germany pays in Rubles ,they get all the gas they need,
They have refused to pay in Rubles.
Euros may be like Monopoly money to Gazprom and other Russians.
A corporation is not expected to sell their products for a currency that may be worthless to them. Corporate officers would lose their jobs and perhaps be arrested for such a dumb move.
The Energiewende is so meatheaded I think there is a considerable element of nihilism involved.
This has to be a warning to all governments around the world that the Greens are bent on trashing civilization.
The green parties right around the world believe that the world should stop using fossil fuels but they are against using nuclear to replace the energy .
The Greens and Greenpeace grew out of the threat of nuclear winter .
I will state what is glaringly obvious .
They refuse to accept the benefits that fossil fuel has helped every person on the planet live longer and better lives .
They will not accept that restrictions on energy availability will lead to widespread poverty .
Rising CO2 levels are helping grow crops to feed the massive population increase but they are hell bent on on restricting the manafacture of urea and other nitrogenous fertilizer because they are made with natural gas .
They will cause much suffering and harm if governments and their electorates do not wake up soon .
They are very inward looking and will not accept that fossil fuels have allowed mankind to flourish in the last 70 years .
2.5 billion to 7.5 billion who would never have been fed or housed with out fossil fuel.
They want the common people to cut back on fossil fuel use but not those in power because they think they are saving the world.
James Shaw the leader of the Green Party and part of then New Zealand Government took a plane load of hangers on to COP26 in Glasgow .
Do as I say not as I do .
What good did that do?
Sri Lanka was stuffed because of a fertilizer ans pesticide ban at least halved there output
That is is right,
It will not be the last .
The incessant propaganda ,climate change ,global warming, climate change, global warming has worked so these green socialist governments are being elected as they promise they will tackle climate change .
They have no idea of how to manage a country as the most qualifications that any of them have is a degree in political science .
Surely energy self sufficiency should be the first goal of any government .
Oh I forgot energy is a dirty word .
These governments don’t care if fuel cost go up or if electricity tariffs Increase as they think that high rates will curb demand .
Fuel has gone up all over the world but fertilizer has soared .
Here is an example.Urea one year ago was under $400 per tonne and is now at $1300 per tonne in New Zealand.
Because of the disruption in the worlds ports due to Covid restrictions shipping freight rates have increased 600%.
How could you cope if petrol had gone up 600%?
Governments around the world will be faced with runaway inflation and most of them are so incompetent that they will not be able to cope .
If this is true and, I think it is, Russia’s done a good job of destroying the West without firing a shot. The anti-nuclear stupidity may well kill many of us and many in Europe. Just think, Germany closed down perfectly working nuclear plants for unicorns and fairies er, solar arrays and windmills.
FACT: Russia is Funding Green Energy Propaganda in America
https://bit.ly/3NTC6mV
4/7/22
James Shaw is still here – was interviewed on television last night. Complete idiot with no technical understanding. Like his strange cycling colleague Chloe!
I think it was Obama who warned them on his historical Berlin speech after getting the Nobel for warning us about climate change
Trump would never do that, I’m sure
I’m not sure what you are getting at, Pauleta, but in reference to Russia Obama said: “In this century – in this city of all cities [Berlin] – we must reject the Cold War mind-set of the past, and resolve to work with Russia when we can, to stand up for our values when we must, and to seek a partnership that extends across this entire continent.” Germany’s excessive reliance on Russian gas is consistent with Obama’s “work with Russia” and “partnership” comments. Obama’s naive worldview couldn’t comprehend a resurgent autocratic Russia. Remember his comment to Romney about going back to the 1980s foreign policy in reference to a belligerent Russia?
Obama is a smooth blow-hard that got a Nobel for being not-Bush from a bunch of European socialists. No way in hell would President Trump ever say or do anything that would garner praise from a bunch of socialists, foreign or domestic.
It was sarcasm.
Like I said, Pauleta, I wasn’t sure what you were getting at. No offense meant.
I wasn’t sure what you were getting at, either. Glad to hear it’s sarcasm.
Obama did say climate change was the #1 threat of our times as Pauleta stated. Trump called it
a Chinese hoax. It’s factual on both counts.
Climate change is a major threat.
It is not a hoax.
But the changing climate itself is not the actual threat.
The actual threat is the insane Nut Zero project in response
to irrational fears about the future climate.
It’s not a Chinese hoax.
It’s a good old US, EU and Australia leftist hoax.
Most of us do NOT regard climate change as a “major threat”. Or even a minor one. Isn’t it less than 1 degree of warming over 170 years? Sounds very good to me!
ML:
I think RG means that the Left’s NetZero policy is the greatest threat to humanity, not “climate change”. The Left is just using an imaginary crisis to make profound societal changes that could never pass if allowed proper debate. It’s all about political power.
And we should all be very, very grateful that it is getting warmer rather than colder.
Why don’t they just turn up the wind and solar power? Should be simple, no? With all those inexpensive renewables standing at the ready?
They can always fire up the diesel, natural gas, and propane generators to power gigantic lights to shine on those solar panels all night long. BAM! Problem solved.
Portable nuclear powered fans and spotlights — the green solution by my Green Machine Solar and Wind Power Assistance Company. 1,593 one percent shares are available for investors. Cash only. We also sell Green Wood (wood pellets painted green)
Mr. M: Mr. Stokes has explained that people who do math have shown how much NG back-up generation, which he now defines as “STORAGE”, is required. And “they have done the math have you” is how you avoid talking about the new definition of “STORAGE”.
Nick has a faculty for twisting facts to fit a narrative. Intelligence applied to evil ends is still evil.
Germany is so going down the tubes it isn’t funny….Probably few have heard of another of their more recent idiotic laws that just came to pass. As an Etsy seller, I was informed a couple of months ago by Etsy that, in order to continue to sell to buyers in Germany, that I would have to not only register my business with the German government, but also pay a third party company to insure that the packaging of my goods is properly recycled once it gets to German buyers!
My company is a small craft business I run out of my basement in addition to my “day” job. I’m about the smallest kind of business out there. But no, Germany will require this onerous red tape not only of Amazon, Walmart but of me and other home-based crafters who sell online.
So if I’m not properly registered and I don’t pay the German recycling mafia, then any packages I send could be confiscated and destroyed. And, apparently, I could get fined up to 200K Euros as well (no idea how they would enforce that on companies and businesses in other countries…).
Upon reading over the details of this new law, what I have done is to simply remove Germany from the list of countries I ship to. Sorry German people, your country has essentially slapped what amounts to an import tariff on incoming goods. You can bet your bottom dollar that any companies who will still ship to Germany will add on some extra shipping and handling charges (that the buyer will have to pay).
These regulations are really designed to give Germany and advantage in trade, much like a tariff but under the guise of environmentalism.
Mercantilism rears its ugly head throughout the globe. China is particularly good at it.
Maybe one could package the product in edible materials to avoid the tax. With the unavoidable famine already trying to attract notice of EU + UK Gov’t boffins, it might be welcomed.
LI predicted a famine, shuttering of employment sources, a hypothermia epidemic …over a year ago here on WUWTwhen Europe turned down contracts for gas from Russia at about ~$2/mil.BTU because it was bad optics for climate change. Hungary and Serbia signed up against EU wishes.
No time in a thousand years have we seen such stupid world leaders in the West.
Gary, its my opinion we see them every generation.
They’re not stupid. Just highly insulated from the consequences of their decisions
In the West, such stupidity rears it’s idiotic head every time a Dim-O-Crat is elected to office
You’ve got me well curious Lee – tell us more about what you do.
I would love to know how it is physically possible for any company (third party or not) to ensure “packaging of my goods is properly recycled.” Additionally, an explanation of how a governmental agency could possibly track compliance with that process. Is the German government going to pay children to monitor household adults’ compliance? Shades of National Socialism.
Without further information, this probably tops my knowledge of impossible bureaucratic schemes that have been actually implemented.
Please read his comment again. He said he must hire a crony capitalist German company “guarantee” that packaging would be recycled.
There will be no verification, but the friends of the politicians who got the head start through cronyism will “licensed” to do the “guaranteeing” so will get paid, and thus pass on a percentage on to their politician cronies.
Of course it will raise prices in Germany, but who cares?
I’m trying to figure out how this works. Does the company go to the person’s house who has received a package and watch them recycle it or, take it and recycle it or, what? I don’t see how this is workable but, I presume, the law addresses this in some manner? I just can’t fathom how this is implemented and monitored.
Cross the German insanity and then visit Germany, as a few others have done, and they snatch you off the street, then stuff you into a cage for a few (or more) years.
We have our own crazy Germany here in USA. It’s called California. They also try to either register you or send you tax forms even if you only sold one widget to some gov clerk in CA.
Just reclassify your packaging as complimentary home heating materials…
Germany should have built Thorium Liquid Salts Cooled Reactors https://www.copenhagenatomics.com https://www.thorconpower.com
Those don’t exist yet…in a functioning utility scale generator that is distributing electricity into ANY national grid in ANY country
Perhaps slightly closer than Cold Fusion but not by much
ThorCon website indicates 8 years from design to production but mentions not where they’re at in their listed milestones so I can only presume they’re still on Year 1 Design Phase
thorCON might be more like it at the moment
Why should anyone be surprised that Russia is squeezing the gas pipelines? We were fools to think they wouldn’t retaliate for the sanctions and property seizures the West has enacted on them. Does anyone believe that Russia, who openly declared war on a neighboring country in a blatant land grab after promising they wouldn’t do it in a treaty (after getting what they wanted), has any morals in starving the rest of the world of energy and food?
Ukraine’s own mines are preventing the shipping of its grain.
Russia is happy to sell its grain and energy, but there’s no point in selling for Euros or dollars as they can’t spend those currencies due to sanctions.
I feel very sorry for the Ukrainians being used to fuel the West’s proxy war, but this invasion is the direct result of Western policies expressly designed to induce Russia to attack and be bled in Afghanistan v 2.0.
The Europeans will wind up suffering most from their own sanctions and their supply of weapons to Ukraine, but the US MIC and energy companies will do very, very nicely.
Russia is responding to banking sanctions.
Pay for their gas in Rubles and you get all you want.
It’s that simple.
They want to export as much fossil fuels as possible.
But Euros are now like Monopoly money for them.
Let me fire up my presses And print up a few hundred million Rubles to buy some of their gas
Uhhhh ….. Doesn’t Russia control the world’s supply of Rubles?
10+ years ago I said that skeptics would not win the debate by debating. We’ll only win when the greens actually implement their dreams and the whole population suffers from their folly.
Are we there yet? No, not yet. We’re dealing with people who do not learn from history, do not learn from their own mistakes, and when they’ve doubled down on their mistakes to the point of economic collapse, they find someone to blame.
This is the reality. We have to hit bottom before the average person will start questioning. It’s ad but I think it’s the only way out of this mess.
Perhaps if he prodded FJB to encourage drilling in the US again by removing all his obstacles, the world price would revert to where it was when we were drilling freely–like when DJT was president.
Dream on! Never happen.
There is still a huge amount of inflation caused by the Fed financing unprecedented federal deficits in 2020 and 2021 with unprecedented “money printing”.
Government response to COVID did more harm then COVID.
Government response to the Russian invasion of SE Ukraine did more harm than the Russian invasion.
Government response to “climate change” is unnecessary and therefore more harm than good.
The people in government (elected, appointed, civil servants) are not very good at their jobs.
I would venture that “Government response to _____ did more harm than _____” in general.
” energy crisis may trigger Lehman-like contagion ”
Sounds like the government wants to blame the 2008 financial crisis on so-called “greedy lenders (like the Lehman Brothers, who collapsed during the crisis. In actuality, it was the U.S. government who encouraged the U.S. lenders to give mortgages to people who clearly would not be able to pay it off. When the banks expressed this reticence, the government told them not to worry, it would all be taken care of.
Now they’re looking for an energy crisis scapegoat. All they need to do is look in the mirror.
And Canada, who did not require their lenders to lend to just anyone, and also ALWAYS required buyers to come up with 20% down didn’t have a mortgage crisis.
In 2021, Germany used 500TWh, with 43% from renewables- 23% wind, 9% solar & 11% hydro, bio,
etc. Solar nameplate’s 100% & wind is 110% of its usage which puts their capacity factors (cf) at 9%
& 20%, respectively. Solar’s cf is comparable to the UK’s but wind is ~50% of the UK’s 40%-45% cf
which is about the industry standard. Germany’s offshore cf is 35% but the onshore’s 18%. That may
explain why they were willing to allow wind generators on Reinhardswald forest’s hilltops!
Their “bright spot” is the reliable hydro & biomass which reduces the unreliables to ~1/3 of their
total usage. They do have ~1.5 hrs of stored energy- 50% from stored hydro & the other half from
batteries, with most of that from Germany’s 1.2M+ EVs & hybrids & smaller home units adding
a couple of per cent. This is higher than Bjorn Lomborg’s 75 second average for a nation’s
battery storage but still not enough to matter!
Since this bad scenario could easily be predicted by college freshman geeks, this is obviously
a classic example of what can go wrong when bullying is used to silence the opposition!
https://www.ise.fraunhofer.de/en/press-media/news/2022/public-net-electricity-in-germany-in-2021-renewables-weaker-due-to-weather.html
https://www.enerdata.net/publications/daily-energy-news/share-renewables-germanys-power-mix-reached-43-2021.html
That 1.5 hrs of storage: I would assume it is meant to cover shortfalls of renewables, with the expectation of the shortfall being temporary. Then when everything is back to normal, they can build the storage back with surplus generation.
However, if the shortages is caused by insufficient fossil fuels, then the situation is not temporary, and once the stored power is used, you won’t be able to generate enough surplus to build the storage back. You only get one shot using your stored energy. Then you are truly sol when the wind doesn’t blow and the sun doesn’t shine.
Putin just waiting on winter to turn off the gas.
Gazprom is waiting on payments in Rubles to turn on the gas.
Print up a few hundred billion And go Pay them
Just go to Morocco for winter.
Here is one link to the dreadful sight of German derision about President Trump and reliance on Russian energy. Watch it again and again as an illustration of peak bureaucratic stupidity.
Germany should give up international affairs, given it record of losses over the last 120 years Geoff S
TRUMP IS RIGHT AGAIN: German UN Delegation Laughed at President Trump When He Warned Them of Reliance on Russian Oil (VIDEO) (thegatewaypundit.com)
Its sad when regular people pay for the “I told you so” to the snooty elites.
If they’re referring to a Lehman wave, they’re optimistically referring to an 18-month wave. But even Google is conflating “Lehman Effect” with the economic downfall of Lehman Brothers. We’re looking at something between 18 months and permanent.
At the G7 summit, Germany’s Scholz with my CDN Prime Minister said he would like CDN LNG. Except 98% of CDN natural gas is in the west and it is almost impossible to get a pipeline built in Canada with a Liberal Govt
Calling out the drivel of the climate changers-
First up the money quote with weather dependent energy-
Controlling the climate is beyond our capabilities
Spain hit by biggest solar radiation decline in 28 years in March – pv magazine International (pv-magazine.com)
As if to emphasize that simple truism of feast or famine-
Tumut River farmers fear flooding as Snowy Hydro called on to increase electricity production (msn.com)
Finally we get some sanity with Dick Smith calling out Australia’s CSIRO and AEMO as the liars they really are-
We have to ‘move to nuclear’ because we ‘need a baseload power’ – YouTube
No pulling punches anymore with these shucksters carpet baggers and political lickspittles.
More of the same-
SA wind farms, big Tesla battery fined more than $4 million over separate breaches (msn.com)