We Are Going To See Energy Prices Go Absolutely Nuts This Winter Just As We Plunge Into A Horrifying Global Economic Crisis
How would you feel if your power bill went up by 50 percent this winter? How about 100 percent? Unfortunately, these kinds of price increases are already being announced. The world was heading into a major energy crisis even before the war in Ukraine started, and now that conflict threatens to create an extremely severe energy crunch that would have been unimaginable just a couple of years ago. If some sort of a miracle doesn’t happen, it is going to be a really, really cold winter for countless people in the western world.
The Russians have been trying to use energy as leverage, and on Monday they announced that the amount of natural gas flowing through the Nord Stream 1 pipeline will be reduced “to just 20% of its capacity”…
The Biden administration is working furiously behind the scenes to keep European allies united against Russia as Moscow further cuts its energy supplies to the European Union, prompting panic on both sides of the Atlantic over potentially severe gas shortages heading into winter, US officials say.
On Monday, Russia’s state-owned gas company Gazprom said it would cut flows through the Nord Stream 1 pipeline to Germany in half, to just 20% of its capacity. A US official said the move was retaliation for western sanctions, and that it put the West in “unchartered territory” when it comes to whether Europe will have enough gas to get through the winter.
In essence, Vladimir Putin is “turning the screws”, and it may just be a matter of time before he cuts off the gas completely.
The Europeans never should have allowed themselves to become so dependent on Russian energy, and now a major crisis is staring them in the face.
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