Yves Smith wrote a very long piece today, asking Will Europe Go Down to Defeat Before Ukraine? The race would seem to be nip and tuck right now. However, in the course of the article Yves presented a remarkable graph, showing where the cost of electricity in Europe is headed:
From the human-interest side, real people in Ireland and the UK having their businesses and livelihoods destroyed (in all likelihood, permanently) by this public-policy cluster%#$^. Small commercial, which, unlike residential over there, has had to run a/c, commercial kitchens, etc. all summer long, is probably just the canary in the coal mine for the general populations that will need to heat their homes this winter. Terrifying indeed. Picture at the very end sums it up nicely.
To add to the energy mess in Europe, this: apparently our moral betters are turning to China to buy…Russian LNG, for triple the price, naturally. https://www.zerohedge.com/
This fits in your “can’t make this stuff up” category!
Ukraine is already defeated and is dragging Europe down with her! Ukraine is like a gangrenous toe . . . unless it is cut off the entire body will soon die.
When the chips are down, people do eventually act to preserve themselves.
I don't know what is going to happen this Winter, but it looks increasingly dire to me. The feedback from Europe's energy crisis will eventually show up in natural gas prices and electricity prices in the US, and at that point, Zhou Baiden is likely to stop the export of LNG to Europe just to save his own party's ass. The only thing that might keep a cap on all of this is that Russia is still exporting a lot of oil and gas despite the sanctions, and parties like China and India are simply reselling it to the Europeans at a big markup.
It'll be interesting to see if price caps can work as US moves from energy producer to energy buyer. Thinking something will give before we reach 2,3,4.
From the human-interest side, real people in Ireland and the UK having their businesses and livelihoods destroyed (in all likelihood, permanently) by this public-policy cluster%#$^. Small commercial, which, unlike residential over there, has had to run a/c, commercial kitchens, etc. all summer long, is probably just the canary in the coal mine for the general populations that will need to heat their homes this winter. Terrifying indeed. Picture at the very end sums it up nicely.
https://www.zerohedge.com/energy/how-name-god-shocked-europeans-post-astronomical-energy-bills-terrifying-winter-approaches
To add to the energy mess in Europe, this: apparently our moral betters are turning to China to buy…Russian LNG, for triple the price, naturally. https://www.zerohedge.com/
This fits in your “can’t make this stuff up” category!
Will Europe Go Down to Defeat Before Ukraine?
Ukraine is already defeated and is dragging Europe down with her! Ukraine is like a gangrenous toe . . . unless it is cut off the entire body will soon die.
Do the magical voting machines run on backup batteries?
When the chips are down, people do eventually act to preserve themselves.
I don't know what is going to happen this Winter, but it looks increasingly dire to me. The feedback from Europe's energy crisis will eventually show up in natural gas prices and electricity prices in the US, and at that point, Zhou Baiden is likely to stop the export of LNG to Europe just to save his own party's ass. The only thing that might keep a cap on all of this is that Russia is still exporting a lot of oil and gas despite the sanctions, and parties like China and India are simply reselling it to the Europeans at a big markup.
Seems lots is being done with selective enforcement / paperwork to slow down the export of LNG from the US to Europe.
It'll be interesting to see if price caps can work as US moves from energy producer to energy buyer. Thinking something will give before we reach 2,3,4.