Europe European Energy crisis

[rumply]

Following on from recent protests in the Czech Republic calling for the resignation of the government in response to escalating energy prices and also calling for neutrality on the Ukraine war, I was thinking wtf then had a read of this...

 

[Malifice]

Russia and the US control energy in the EU. Russia has rhe Gas and the Yanks have the Oil (via proxies in the ME).

Theyre in for a world of hurt this winter.

 

[Kwality]

Russia and the US control energy in the EU. Russia has rhe Gas and the Yanks have the Oil (via proxies in the ME).

Theyre in for a world of hurt this winter.

Sweden, Finland Step in to Avert Lehman-Like Situation for Power Companies

Finland and Sweden on Sunday announced plans to offer billions of dollars in liquidity guarantees to power companies in their countries after Russia's Gazprom shut the Nord Stream 1 gas pipeline, deepening Europe's energy crisis. Finland is aiming to offer 10 billion euros ($9.95 billion) and ...

www.forexfactory.com

Finland and Sweden on Sunday announced plans to offer billions of dollars in liquidity guarantees to power companies in their countries after Russia's Gazprom shut the Nord Stream 1 gas pipeline, deepening Europe's energy crisis. Finland is aiming to offer 10 billion euros ($9.95 billion) and Sweden plans to offer 250 billion Swedish crowns ($23.2 billion) in liquidity guarantees. "This has had the ingredients for a kind of a Lehman Brothers of energy industry," Finnish Economic Affairs Minister Mika Lintila said on Sunday.

 

[adogsfan5]

Is this legit?

 

[Kwality]

Is this legit?

EU - they think they are the world order. Look after your own backyard/squabbles & leave the rest of the world alone.

Putin warns West of total cut to energy supplies

Addressing the Eastern Economic Forum in Vladivostok the Russian leader reaffirms his commitment to Crimea while Ukraine ramps up offensives in the region.

www.abc.net.au

Speaking at an annual economic forum in the far-eastern port city of Vladivostok, Mr Putin scoffed at the EU plans for a cap on Russian oil and gas prices as a "stupid" idea that "will only lead to a hike in prices".

"An attempt to limit prices by administrative means is just ravings, it's sheer nonsense," Mr Putin said.

"If they try to implement that dumb decision, it will entail nothing good for those who will make it."

 

[adogsfan5]

EU - they think they are the world order. Look after your own backyard/squabbles & leave the rest of the world alone.

Putin warns West of total cut to energy supplies

Addressing the Eastern Economic Forum in Vladivostok the Russian leader reaffirms his commitment to Crimea while Ukraine ramps up offensives in the region.

www.abc.net.au

Speaking at an annual economic forum in the far-eastern port city of Vladivostok, Mr Putin scoffed at the EU plans for a cap on Russian oil and gas prices as a "stupid" idea that "will only lead to a hike in prices".

"An attempt to limit prices by administrative means is just ravings, it's sheer nonsense," Mr Putin said.

"If they try to implement that dumb decision, it will entail nothing good for those who will make it."

Seriously what on earth is going on around the world atm!

 

[Kwality]

Seriously what on earth is going on around the world atm!

The tribes of Europe are still warring & the rest of us havent been drawn in yet.

 

[Strange Cat]

Seriously what on earth is going on around the world atm!

Only going to get worse

 

[Kwality]

You really don’t understand how bad it could get in Europe this year​

You really don't understand how bad the energy crisis could get in Europe this year

The continent is already in crisis, and these might be the good days.

fortune.com

'With winter and higher gas demand on the way, experts told Fortune that Europe’s energy market has never been more vulnerable. Even the slightest uptick in energy demand anywhere in the world could push entire sectors of Europe’s manufacturing industry to shut down entirely, devastating European economies with a wave of unemployment, high prices, and in all likelihood public unrest and divisions between European nations.'

'Prices are at historically record levels. We have never ever seen anything actually like this,” Tatiana Mitrova, a research fellow with Columbia University’s Center on Global Energy Policy, told Fortune. “This will become quite painful.”'

'With immediate supplies maxed out, Europe’s energy system is balanced on a ledge. That means that addressing demand is the only realistic measure left at Europe’s disposal. And that could come through painful means like mandated and widespread energy rationioning, according to Mitrova.'

“I’m afraid that the only solution this winter will be on the demand side,” said Mitrova. “I think it will be quite difficult to avoid some sort of rationing and restrictions in gas demand.”

The rest of the world will look & learn, hopefully.

 

[The Dice Man]

You really don’t understand how bad it could get in Europe this year​

You really don't understand how bad the energy crisis could get in Europe this year

The continent is already in crisis, and these might be the good days.

fortune.com

'With winter and higher gas demand on the way, experts told Fortune that Europe’s energy market has never been more vulnerable. Even the slightest uptick in energy demand anywhere in the world could push entire sectors of Europe’s manufacturing industry to shut down entirely, devastating European economies with a wave of unemployment, high prices, and in all likelihood public unrest and divisions between European nations.'

'Prices are at historically record levels. We have never ever seen anything actually like this,” Tatiana Mitrova, a research fellow with Columbia University’s Center on Global Energy Policy, told Fortune. “This will become quite painful.”'

'With immediate supplies maxed out, Europe’s energy system is balanced on a ledge. That means that addressing demand is the only realistic measure left at Europe’s disposal. And that could come through painful means like mandated and widespread energy rationioning, according to Mitrova.'

“I’m afraid that the only solution this winter will be on the demand side,” said Mitrova. “I think it will be quite difficult to avoid some sort of rationing and restrictions in gas demand.”

The rest of the world will look & learn, hopefully.

Just on this, French Television Stations will soon be showing electricity forecasts, much like weather forecasts.

Crise de l’énergie : une météo de l’électricité bientôt sur France Télévisions pour éviter les coupures

Face à la crise énergétique, le groupe audiovisuel public s’est engagé à sensibiliser les Français sur les gestes à mettre en œuvre pour évi

www.leparisien.fr

A few grabs translated

France Télé will thus display on its antennas, when the time comes, pictograms designed as part of the Ecowatt system, which allows users to see in real time the level of electricity available in the country thanks to a signal in three colors: green ( normal), orange (tense), and red (very tense, synonymous with inevitable cuts if nothing is done to reduce consumption).

Delay the cooking of your “zucchini gratin”​

If it is not necessary to turn off your TV, which is not the most energy-intensive, “you can, for example, start your washing machine at 10 p.m. rather than 7 p.m.,” explains Delphine Ernotte . You can also postpone the cooking of your “zucchini gratin” from 7 p.m. to 7:45 p.m., abounds Xavier Piechaczyk, recalling that heating and cooking are very energy-intensive.

It's going to be a brutal winter. 2020 we had lockdowns, 2022/23 we'll be locked down with no heating or lighting. Progress is progress I guess.

Interestingly they mention turning off all lights in buildings after 21:30 but nothing about turning off your tele.

 

[Kwality]

Just on this, French Television Stations will soon be showing electricity forecasts, much like weather forecasts.

Crise de l’énergie : une météo de l’électricité bientôt sur France Télévisions pour éviter les coupures

Face à la crise énergétique, le groupe audiovisuel public s’est engagé à sensibiliser les Français sur les gestes à mettre en œuvre pour évi

www.leparisien.fr

........

It's going to be a brutal winter. 2020 we had lockdowns, 2022/23 we'll be locked down with no heating or lighting. Progress is progress I guess.

Interestingly they mention turning off all lights in buildings after 21:30 but nothing about turning off your tele.

Why lockdowns this winter ?

 

[The Dice Man]

Why lockdowns this winter ?

Climate change, energy crisis, covid, Russia.. It's a lottery, take your pick.

 

[Kwality]

The myth that is a united Europe is feeling the pinch of its own energy policy:


'When people talk airily about the world transitioning away from fossil fuels, what they are really describing, so far at least, is that Europe has cut fossil fuels a bit and is in crisis as a consequence, while the US has partly moved from coal to gas.'

'The French President won re-election promising 14 new nuclear power plants. France gets 70 per cent of its electricity from nuclear and is the world’s biggest electricity exporter. Nuclear is much more reliable than hydro. Sometimes it doesn’t rain, and some countries, like Australia, are topographically difficult for hydro.'

'Macron and Scholz in crunch talks as Germany infuriates EU with 'selfish' move​

The two leaders are meeting after Germany's decision to set out a €200billion "defensive shield", including a gas price brake and a cut in sales tax for the fuel, to protect companies and households from the impact of soaring energy prices.'​

'At a meeting in Brussels on Friday, ministers from the 27 EU member states approved levies on energy firms' windfall profits to try to contain an energy price surge aggravated by Russia's war against Ukraine, but disagreed about whether and how to cap runaway gas prices.

Germany is one of the main opponents to a cap price on Russian gas.'

Macron and Scholz in crunch talks as Germany infuriates EU

The two leaders are meeting after Germany's decision to set out a €200billion "defensive shield", including a gas price brake and a cut in sales tax for the fuel, to protect companies and households from the impact of soaring energy prices.

www.express.co.uk

 

[Generalissimo]

Another reason Putin's invasion of Ukraine was a blunder. Yes, Europe will have one tough winter, but they will come out of it less reliant on Russian gas than ever (necessity is the mother of invention after all), and they'll never again need or want to buy as much from Russia.

 

[Kwality]

Another reason Putin's invasion of Ukraine was a blunder. Yes, Europe will have one tough winter, but they will come out of it less reliant on Russian gas than ever (necessity is the mother of invention after all), and they'll never again need or want to buy as much from Russia.

unless things change .... what goes round, comes round

 

[Kwality]

OPEC cuts oil production to drive up oil prices, Wall Street ends two-day rally​

The Organisation of the Petroleum Exporting Countries (OPEC) and its allies, including Russia, decided to cut oil output by 2 million barrels of oil a day, equal to 2 per cent of global oil supply.

The cuts are the biggest in two years and block efforts by the US and Europe to reduce the revenue that Russia earns from the sale of crude oil.

OPEC accused of aggression as it slashes oil production, ASX ends flat

As the ASX finishes where it started, Saudi Arabia and Russia are on a collision course with the West after major producers cut oil production to drive up prices. The move could further increase energy prices, plunge the global economy into recession, and help Russia in its war in Ukraine.

www.abc.net.au

 

[The Dice Man]

Getting fuel for your car is becoming difficult. There are lines hundreds of metres long on sideroads waiting to get fuel. Yet strangely I look on french news websites and it's not mentioned on front pages.

I was paying around €2,50 a litre for diesel back in July... that's $3.75 AUD a litre.. It's almost back at those prices.

 

[Frankwalker]

Another reason Putin's invasion of Ukraine was a blunder. Yes, Europe will have one tough winter, but they will come out of it less reliant on Russian gas than ever (necessity is the mother of invention after all), and they'll never again need or want to buy as much from Russia.

Do you think it was by accident that Merkel set this up?

 

[Frankwalker]

So Europe and Germany. How are renewables working out for them?

It’s been all crickets so far in this thread and all blame or Putin not another example of how isles the renewables are

 

[Kwality]

So Europe and Germany. How are renewables working out for them?

It’s been all crickets so far in this thread and all blame or Putin not another example of how isles the renewables are

& the crisis/crises has years to run.

Global LNG Supplies Are ‘Sold Out’ for Years, Top Importer Warns

(Bloomberg) -- Japan warns that global competition for liquefied natural gas is set to intensify over the next three years due to an underinvestment in supply.Most Read from BloombergMalaysia Latest: Parties Race to Form Government Before DeadlineMalaysia Latest: Tight Election Race Points to...

finance.yahoo.com

'Long-term LNG contracts that start before 2026 are sold out, according to a survey of Japanese companies conducted by the trade ministry and released Monday. These types of contracts are essential for buyers, as they offer stable pricing and reliable supply for many years.

Countries around the world are scrambling to secure shipments of the power plant and heating fuel from major exporters like Qatar and the US, but there is little new supply coming online before 2026. Meanwhile, Europe is racing to replace Russian pipeline gas with LNG, further exacerbating the global shortage of fuel.

This means importers will be forced to depend more on the volatile and expensive spot market, which is currently trading nearly three times higher than long-term contracts. Roughly 30% of all LNG deliveries were via the spot market last year, according to the International Group of Liquefied Natural Gas Importers.

Japanese ministry officials and energy company executives met on the same day to discuss LNG procurement plans. Japan is poised to be the world’s biggest LNG importer this year, and the fuel is the nation’s top choice for power generation.'

Meanwhile Australia prevaricates over its own gas supplies despite the pain (hip pocket nerve) locally.

 

[Cap]

So Europe and Germany. How are renewables working out for them?

It’s been all crickets so far in this thread and all blame or Putin not another example of how isles the renewables are

What's happening in the short term is increasing investment in renewables over the medium long term.

I don't think anyone can arguement the underinvestment in renewables over the last decade isn't coming back to haunt many countries. Even Australia.

 

[Cap]

Getting fuel for your car is becoming difficult. There are lines hundreds of metres long on sideroads waiting to get fuel. Yet strangely I look on french news websites and it's not mentioned on front pages.

I was paying around €2,50 a litre for diesel back in July... that's $3.75 AUD a litre.. It's almost back at those prices.

Didn't they end up resolving the workers strike that was widely covered during October ?

Or are you still having trouble getting desiel ?

Maybe get an EV or take a bus. That should help !

 

[Kwality]

What's happening in the short term is increasing investment in renewables over the medium long term.

I don't think anyone can arguement the underinvestment in renewables over the last decade isn't coming back to haunt many countries. Even Australia.

Without a 24/7 solution renewables has its limitations, see South Australia.

 

[Cap]

Without a 24/7 solution renewables has its limitations, see South Australia.

SA is fine thanks.

But yes a combination of renewable and storage will achieve the goal.

I can see countries that have big populations using nuclear, but most countries are going renewable because it's the best option.

 

[The Dice Man]

Didn't they end up resolving the workers strike that was widely covered during October ?

Or are you still having trouble getting desiel ?

Maybe get an EV or take a bus. That should help !

It's sorted yes, prices are back to around 2 euros a litre. To charge an EV will cost about the same as buying fuel so there's no real incentive for that.