As the energy crisis escalates (1) and unsustainable prices (2) continue to rise to unprecedented heights (3), governments are mulling over further restrictions, energy curfews, and rationing in an effort to reduce gas consumption by 15% over the coming autumn and winter (4).
However, while EU gas imports from Russia have been well below that of 2021…
…total gas imports have pretty much followed 2021’s trajectory.
Further, current gas storage actually exceeds that of the previous year
These facts refute the idea that the crisis is driven primarily by shortages, although that could change in the future as overall price inflation puts constraints on production (5). Rather it indicates that the massive hike in prices is in part likely due to market panic spawned by hysteria-driving narratives (6) and ongoing (7) speculation (8)—as-yet unfounded (9)—of Russia permanently cutting Europe’s gas supply. The alternative possibility is deliberate price manipulation to bring about a Europe-wide depression (10).
Eye-watering electric bills (11) have prompted Brits to go on a pay strike (12)—after all, if a French energy giant is doing it, why not (13).
Some nations are bracing themselves for possible social unrest over the coming winter if the feared supply shortages materialize (14), which is not inconceivable if further deterioration of relations with Russia couples with lowered exports (15) and hoarding (16) by European nations. Others have opted to adopt the idiom, “If you can’t lick ‘em (17), join ‘em” (18), while still others have found a way to profit from the hole Europe has dug itself into (19). However, as European nations work to ensure winter supplies by any means necessary (20), true shortages are being felt by third world nations (21).
A growing rebirth of nuclear as a viable source of (now considered “green” (22) energy is spreading, with nations like Japan jumping on the bandwagon (23), as popular sources of “green” energy are shown to have a flip side (24) while alternative options have some challenges yet to be overcome (25). Nations who are considering replacing nuclear for solar would do well to analyze the matter from multiple angles before committing (26) as overly-idealistic green policies are increasingly being exhibited as the reason for disastrous outcomes in countries who embraced them too ardently (27).
References
Calls Between Energy Traders, UK Grid Operator Reveal Power Crisis Might Be Far Worse Than Expected
Why No Politician Is Willing to Tell Us the Real Energy Story
Europe is in for 5 to 10 'difficult' winters as energy prices soar, Belgian prime minister says
Russia is set to switch off the gas for work on a key pipeline — and Germany fears the worst
German economy minister says 'bitter reality' is Russia will not resume gas supply
Russia resumes critical gas supplies to Europe via Nord Stream 1
Europe Is Now "Powerless" And Its Inflation And Recession Are About To Get Even More Brutal
"Revolution Has Begun": 75,000 Brits To Stop Paying Power Bills Amid Inflation Storm
Gazprom says it will halt gas supplies to France's Engie, cites lack of payment
"Population Will Rebel" - Swiss Police Chief Fears Social Unrest From Winter Power Shortages
Norway To Limit Electricity Exports, 'Cannot Rule Out' Rationing
Putin & Erdogan Discuss Trade As Turkey Agrees To Pay In Rubles For Part Of Russian Gas
In Stunning Post-Fukushima Shift, Japan To Build More Nuclear Power Plants
The Swiss federal government’s energy strategy is wishful thinking, says ETH researcher