Energy: The Destruction of Germany

The energy crisis in Germany has by no means abated as insolvency threatens domestic gas giants (1) and German citizens’ energy needs are being rationed (2) and culled (3). While potential alternatives are being explored (4), the crunch is permeating other branches of the German economy as social tensions mount (5).

Although fears the 10-day scheduled maintenance of Nordstream 1 would signal an end to Russian gas supply (6) have been unfounded (7), a recent “force majeur” declared by Gazprom has fueled Europe’s leaders’ speculations of Russia weaponizing energy supplies (8). It appears, however, to be more a case of Gazprom covering their back from obligations they are unable to fulfil due to Canada withholding essential parts (9) following a “summons” of the Canadian ambassador by Ukrainian president, Zelenskiy, who vehemently opposed Canada’s decision to make an exception to their sanctions and send back the turbine (10). Now that Canada has released said part, it remains to be seen whether Russia will resume full-capacity gas flow or not (11).

The European energy crunch has prompted the French government to begin nationalizing it’s largest energy provider (12) while announcing that street lights will be turned off at night, although admitting minimal dependence on Russian gas (13). France’s energy issues are more domestically-born, due to unexpected maintenance rather than anything Russia has or hasn’t done, nevertheless, the timing couldn’t be worse (14). Germany’s Christian Democratic Union chief has warned of possible friction amongst EU nations over distribution of gas supplies and argued against halting all gas from Russia (15), while energy-dependent nations outside of the EU, such as Switzerland, are also bracing for a troubled upcoming winter (16).

The massive jump in prices that are decimating once-powerful economies (17) is, apparently, not enough for idealists who demand higher gas prices for the sake of democracy (18), despite the global havoc sky-high prices are wreaking (19). It appears keeping warm is to be available only to the “haves” (20).

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References

1. German Energy Giant Warns Of Insolvency "Within Days", Starts Draining Gas From Storage

2. Germans Taking Fewer Showers In Response To Cost Of Living Crisis

3. Germany's Largest Landlord To Restrict Heating At Night

4. Deutsche Bank Now Modeling German Households Chopping Wood To Keep Warm This Winter

5. "Social Peace Is In Great Danger": Germany Is Quietly Shutting Down As Energy Crunch Paralyzes Economy

6. French, German Leaders Warn Populations "Prepare For Total Cut-Off Of Russian Gas" As Social Unrest Looms

7. Russian gas flows to Europe resume via Nord Stream 1, eastbound Yamal flows rise

8. Gazprom Declares Force Majeure, Will Halt Gas Flows To Germany Indefinitely

9. Siemens Must Bring Back Nord Stream Turbine, Germany Says

10. Ukraine Summons Canadian Ambassador Over Return Of Pipeline Turbine

11. Canada sends repaired Nord Stream turbine to Germany

12. Europe’s Energy Crisis Is So Bad That France Will Nationalize Its Largest Power Company. Here’s The Price Tag

13. Macron Announces Street Lights Will be Turned Off in Response to Energy Crisis

14. French Nuclear Power Crisis Frustrates Europe’s Push to Quit Russian Energy

15. German party chief predicts EU infighting over gas

16. All eyes were focused on the energy transition. Now an energy crisis may come instead

17. Germany Has First Monthly Trade Deficit Since 1991 on Inflation

18. Klaus Schwab’s WEF Issues Edict to Global Leaders: ‘Gas Prices Aren’t High Enough’

19. Costly food and energy are fostering global unrest

20. BMW Now Selling Drivers Access to Their Cars’ Heating Systems for $18 per Month