EUROPEAN ENERGY CRISIS: Short-term day-ahead power prices across Europe surge again toward €300 MWh. despite relatively mild temperatures. Gas is very expensive, and the wind isn’t blowing today or tomorrow. Germany, France, Belgium and Austria all above €290 per MWh for Tue.
France and Germany are meeting this week with Russia to discuss Ukraine.
Bet the major issue for Germany and France is going to be Russian Natural Gas and what it will take to keep the pipelines flowing (period). Without Russian Natural Gas, Western Europe is going to have blackouts and worse, lots of people freezing in the dark. Texas had 246 people die last year when the natural gas was “curtailed” during the Texas Freeze. Imagine if it is all of Western Europe?
Sort of like the Sudetenland Crisis in 1938 (Neville Chamberlain’s Peace in Our Time!). France, Britain, and Russia sat down with Nazi Germany in Munich to discuss carving off pieces of Czechoslavakia. Of course Czechoslavakia was NOT invited, even though the Czechs were in Munich.
Will Ukraine be invited? Will Ukraine be carved up by France and Germany for (promises of) a few trillion cubic feet of Russian Natural Gas?
I’m seriously thinking of investing in Gazprom.
It’s got a yield of about 4.5% and a P/E ratio less than 4.
They’ve got Europe over a barrel and big plans for the East.
No wokeness and no shits given regarding climate change.
No sir.
More generally, Russia’s economy is the only one in Europe that can genuinely be said to be developing. Economic progress in the “advanced economies” of the EU effectively ceased no later than 2008. The only growth industries there are debt and militant Islam.
Russia will be the wealthiest economy in Europe within a generation. As for the EU, what EU? That won’t last another generation.
Do you currently have access to trade Gazprom stock?
Do you think any European, Asian or American trading platform will allow you to trade once massive sanctions are applied to Russia?
How will Gazprom pay you any dividends if it is cut off from the SWIFT platform?
You may be saddled with some expensive and useless share certificates. I guess you could burn them to stay warm.
Or you could hold them for a decade and hope for the best. Caveat emptor.
massive sanctions are applied to Russia?
Really Chris. You think the the EU would do that. Putin has them over a barrel and they know it.
Closer to home, wind generation has been nil across the Pacific NW for the past 4 days.
https://transmission.bpa.gov/Business/Operations/Wind/baltwg.aspx
Russia has plenty of energy to spare, if only the skinflint Krauts were willing to pay for it.
Unfortunately for the Krauts, she has better uses for the oil right now. Like fueling the tanks that will help her sons drive the globalists into the Atlantic Ocean and make clear that their mother is done being raped by barbarians.
Every time history repeats itself, the price goes up. If the Krauts think that safe, reliable energy is expensive, they should consider the cost of losing another war with Russia.
#OnToFrankfurt
When you want the middle class to become impoverished, this is one way to do it.
When you want to force the masses to just stay home, earn a state stipend, shiver and die sooner than later, this is one way to achieve that.
The huddled, shivering poor might riot a bit but the State will use that for more lockdowns and to strengthen the passport check system.
Increasing energy prices massively and then stepping up to “help” those individuals who are struggling to pay those higher costs is just another way of controlling the population.
I take some satisfaction in that Poland has among the lowest energy prices in Europe. Probably because they aren’t afraid to use their coal. Must drive the Germans crazy to see their Polish neighbors paying $124 less.
Highest suicide rate.
Highest abortion rate.
Highest alcohol, AIDS rate.
Lowest male longevity.
Half of under 30 year olds said to want to permanently emigrate.
20% per person GDP of EU.
Doesn’t manufacture one world class product.
Yeah, Guici on the beach.
Windfarm “greenhouse teepees”.
When the bearings and generators fail and people tire of trying to replace them, then you have a big pole often over prime farmland.
Why not try to make it useful? Demolition and hauling all the concrete away is expensive too.
Leave every single windmill standing in perpetuity as memorials, or talismans, of early 21st-century-humanity’s folly.
Much like Stonehenge or the Heads of Easter Island. Markers to future generations of this era’s cult-like religion.
Let them stand there forever as warnings to newer generations. Put a plaque on each and every one of them.
And when they eventually fall down…
Leave them in place. Remove the plaques, rotate them 90 degrees and re-install them.
And that’s in Euros, Canadian $ is .71 of a Euro. Converted prices.
Manitoba $ 89.83 MWH (before January 1 rate increase…)
France $ 418.37 MWH
Germany $ 421.46 MWH
Watch the idiot tax out the difference.
My first thought on reading the headline was New York Football Giants? San Francisco Giants? Baltimore Elite Giants?…
Germany marks it up 7-fold before the German gov’t sells it to the utility companies. Make no mistake, Germany is still fascist, as is much of the west. The German people would be better served buying it direct from Gazprom without the German gov’t taking a 700% “cut.”
Give Gazprom a break. Buying off German ex- Chancellor, and hordes of German elite, isn’t cheap.
Hey, know what Poland has that Germany doesn’t? LNG terminal. Poland can import gas from all over the world. Just like the Chinese, Japanese, even Massachusetts does.
Germany? Zero. Nict. Must obey and stick to the pain.