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EU Natural Gas Prices Soar As Gazprom Readies Nord Stream Cuts, US NatGas Hits 14-Year High
EU Natural Gas Prices Soar As Gazprom Readies Nord Stream Cuts, US NatGas Hits 14-Year High European natural gas futures extended gains by 12% after Russian state-owned energy producer Gazprom PJSC unexpectedly announced it would halt a Nord Stream 1 turbine at its Portovaya compressor station from Wednesday. Simultaneously, US NatGas futures have spiked to 14-year highs. […]
IEA Chief: Europe Must Cut Gas Usage 20% To Survive Winter
IEA Chief: Europe Must Cut Gas Usage 20% To Survive Winter After calling on all member states to reduce gas consumption by 15% in the face of the threat of a complete Russian gas cutoff, the IEA says the European Union will need to cut even more in order to get through the winter. “Even […]
As Fuel Prices Poised to TRIPLE, EU Mulls Rationing Gas Across Bloc Monday
As Fuel Prices Poised to TRIPLE, EU Mulls Rationing Gas Across Bloc Monday The European Union (EU) is going down in flames as its fuel taps from Russia run dry. Issues related to the war in Ukraine have resulted in no more gas flowing through the Nord Stream 1 (NS1) pipeline and soon-to-be tripled gas prices across Europe. To avoid what […]
Germany’s Energy Crisis About To Get Even Worse As Rhine Water Levels Plummet
Germany’s Energy Crisis About To Get Even Worse As Rhine Water Levels Plummet What has already been a year from hell for Germany, which is suffering energy hyperinflation as a result of Europe’s sanctions on Russia, and which is “facing the biggest crisis the country has every had” according to the president of the German […]
Gazprom Reportedly Declares Force Majeure, Will Halt Gas Flows To Germany Indefinitely
Gazprom Reportedly Declares Force Majeure, Will Halt Gas Flows To Germany Indefinitely Already days before the July 22 European “Doomsday” when the scheduled Russian 10-day maintenance of the crucial Nord Stream pipeline to Germany is slated to end – but which was thrown into deep doubt given Gazprom recently said it can no longer guarantee its “good […]
Deutsche Bank Now Modeling German Households Chopping Wood To Keep Warm This Winter
Deutsche Bank Now Modeling German Households Chopping Wood To Keep Warm This Winter Yesterday we reported that just in case the world didn’t have enough things to worry about, it is now also petrified about Europe’s potential “doomsday” on July 22 when Putin will decide the fate of the continent: if he resumes gas flows along the […]
Is the Euro An Energy Problem Or A Central Bank Problem?
IS THE EURO AN ENERGY PROBLEM OR A CENTRAL BANK PROBLEM? If its an energy problem, then there is no way back. It looks more like a central bank problem to me. As mentioned in the last post, the huge break in energy prices between the US and the rest of the world could explain […]
Norwegian Strikes Could Sever NatGas Supplies To UK
Norwegian Strikes Could Sever NatGas Supplies To UK The European energy crunch is set to worsen this week after Norwegian offshore oil and gas workers went on strike, threatening to sever the Scandinavian country’s energy supplies to the UK and Europe, according to Reuters. As much as 1,117,000 barrels of oil equivalent, or 56% of daily […]
Rationing Has Already Started In Europe As The Entire Globe Plunges Into A Horrific Economic Nightmare
Rationing Has Already Started In Europe As The Entire Globe Plunges Into A Horrific Economic Nightmare If countries in Europe are already beginning to ration certain things due to “supply problems”, how long will it be before it starts happening in the United States? Up until the past couple of years, many of us in […]
IEA: Europe Will Have To Cut Gas Usage By Nearly One-Third
IEA: Europe Will Have To Cut Gas Usage By Nearly One-Third In the first quarter of next year, the countries of the European Union will have to cut their usage of natural gas by up to 30% in preparation for a complete stoppage of Russian gas flows, according to the International Energy Agency (IEA). IEA […]
Germany Elevates Risk Level In Its “National Gas Emergency Plan” To Second-Highest “Alarm” Phase
Germany Elevates Risk Level In Its “National Gas Emergency Plan” To Second-Highest “Alarm” Phase European natural gas and power prices surged after Germany triggered the “alarm stage” of its NatGas-emergency plan amid reductions in supplies from Russia, according to Reuters. German Economy Minister Robert Habeck said Europe’s largest economy is in a severe energy crisis. He warned Germany […]
IEA: Europe Should Prepare For Complete Russian Gas Shutdown
IEA: Europe Should Prepare For Complete Russian Gas Shutdown IEA chief Birol said that Europe should prepare for a complete suspension of Russian gas supplies. Birol advised European governments to keep nuclear power stations running and take other contingency measures. Germany, Austria, and the Netherlands are restarting coal power plants. Europe should prepare for a […]
European Power Prices Spike As Heat Dome Strains Grid
European Power Prices Spike As Heat Dome Strains Grid European day-ahead power prices continue to soar for the third day due to an early-season heat wave driving up cooling demand, lack of renewable energy generation, declining nuclear power, and soaring natural gas costs. Large swaths of Europe over the weekend experienced temperatures above 100 degrees Fahrenheit (38 Celsius). The […]
Oops! U.S. oil and gas exports fuel domestic price rise
Oops! U.S. oil and gas exports fuel domestic price rise The U.S. oil and natural gas industry long fought for and in the last decade finally won release from federal restrictions that limited exports. The ostensible reason was that because of the so-called “shale revolution” in the country’s oil and gas fields, the United States […]
Pitchforks soon in Europe?
Pitchforks soon in Europe? Dear Europeans For your own children´s sake — on my knees and with my saddened eyes humbly looking downwards — I beg of you to please stop the current self-destructive nonsense dead in its tracks by immediately demanding from your political class to import the bloody Russian oil normally once again […]
