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Germany To Nationalize Struggling Uniper In Deepening Energy Crisis
Germany To Nationalize Struggling Uniper In Deepening Energy Crisis Germany on Wednesday announced a move to nationalize struggling natural gas supplier Uniper SE as it strives to keep the industry functioning in the wake of a global energy crisis, according to Reuters. Uniper is Germany’s largest importer of Russian NatGas and has suffered tremendous losses after Russian energy […]
Putin Announces Partial Mobilization In Ukraine War Escalation, Says West Wants To “Destroy Russia”
Putin Announces Partial Mobilization In Ukraine War Escalation, Says West Wants To “Destroy Russia” In a nationwide address that was delayed from its prime-time Tuesday delivery and ahead of votes in four Ukraine regions to join Russia, on Wednesday morning Russian President Vladimir Putin announced a partial military mobilization, while vowing to use all means necessary to […]
Majority Of Hungarian Gas Stations To Run Dry Next Week
Majority Of Hungarian Gas Stations To Run Dry Next Week Hungarian gas and oil giant MOL will only be able to deliver a quarter of the needed fuel from 19 September, Hungarian media reported. According to Daily News Hungary. Szeretlekmagyarorszag.hu acquired a letter in which MOL informed its partners that they could only deliver 25% of […]
IMF Chief: Harsh Winter May Spark Social Unrest In EU Amid Energy Crisis
IMF Chief: Harsh Winter May Spark Social Unrest In EU Amid Energy Crisis A number of countries in Europe may experience social unrest if the upcoming winter is harsh amid an economic crisis, the head of the International Monetary Fund (IMF) warned on Wednesday. “There is certainly fear of recession in some countries, or even if it is not […]
Europe’s Nightmare Scenario Comes True: Energy Bills To Rise By €2 Trillion, Will Reach 20% Of Disposable Income
Europe’s Nightmare Scenario Comes True: Energy Bills To Rise By €2 Trillion, Will Reach 20% Of Disposable Income What is the scale of the energy challenge? We got a very shocking sense of the staggering numbers involved in the existential, crippling European crisis earlier today when Norwegian energy giant Equinor echoed what Zoltan Pozsar said […]
“Blackouts Imminent” – 75,000 Powerless As Record California Power Usage Sparks ‘Demand Response Event’
“Blackouts Imminent” – 75,000 Powerless As Record California Power Usage Sparks ‘Demand Response Event’ Update (2030ET): As was expected earlier, California power usage surged to a record high this afternoon raising the emergency status of the state’s electrical system to the highest possible level amid a blistering heat wave, which means rolling blackouts are imminent. This triggered […]
Russia Admits Weaponization Of Gas, Halts NS1 Shipments “Until Sanctions Lifted” As EU Prepares Response To Energy Crisis
Russia Admits Weaponization Of Gas, Halts NS1 Shipments “Until Sanctions Lifted” As EU Prepares Response To Energy Crisis Putin is done playing around. Two days after Russia indefinitely halted nat gas supplies via the Nord Stream 1 pipeline for the amusing reason that there was an “oil leak” (shown below)… … on Monday Russia finally admitted what […]
Sweden, Austria Start Bailing Out Energy Companies Triggering Europe’s “Minsky Moment”
Sweden, Austria Start Bailing Out Energy Companies Triggering Europe’s “Minsky Moment” Last weekend, Credit Suisse repo guru published what may have been the most insightful snippet of the entire European energy crisis (to date) when he extended the infamous “Minsky Moment” framework to Europe, and specifically Germany, which he said “can’t cover its payments without Russian gas […]
“Exorbitant Rise In Energy Prices” Forces Europe’s Top Steelmaker To Close Plants
“Exorbitant Rise In Energy Prices” Forces Europe’s Top Steelmaker To Close Plants Even though European power and natural gas prices have subsided this week, Germany, the largest economy in the bloc, still faces historically high energy costs that have forced cuts in industrial output. The latest example is the world’s largest steelmaker, ArcelorMittal, which released […]
Surprise: Gazprom “Completely Halts” Nord Stream Gas Supplies Due To “Unexpected” Leak
Surprise: Gazprom “Completely Halts” Nord Stream Gas Supplies Due To “Unexpected” Leak After a 3-day halt, Russian energy giant Gazprom was expected to resume critical supplies of nat gas to Europe via Nord Stream 1 tomorrow, but it appears that Putin is enjoying the game of cat and mouse a little too much, and gas […]
“Prepare For An Epic Finale” – Jeremy Grantham Warns Stock Market ‘Super Bubble’ Has Yet To Burst
“Prepare For An Epic Finale” – Jeremy Grantham Warns Stock Market ‘Super Bubble’ Has Yet To Burst Having infamously spotted and profited from bubbles in Japan in the late 1980s, tech stocks at the turn of the century and in US housing before the 2008 financial crisis, GMO’s co-founder Jeremy Grantham laid out in his latest note to investors why the […]
“How In The Name Of God”: Shocked Europeans Post Astronomical Energy Bills As ‘Terrifying Winter’ Approaches
“How In The Name Of God”: Shocked Europeans Post Astronomical Energy Bills As ‘Terrifying Winter’ Approaches Over the past week, shocked Europeans – mostly in the UK and Ireland – have been posting viral photos of shockingly high energy bills amid the ongoing (and worsening) energy crisis. Several of the posts were from small business owners who […]
Heat Dome Bakes California As “A Lot Of Records Could Be Tied Or Broken”
Heat Dome Bakes California As “A Lot Of Records Could Be Tied Or Broken” A severe heatwave across California and the Pacific Northwest will test power grids this week and early next week. Temperatures are forecasted to soar above 100 degrees Fahrenheit east of San Diego and Los Angeles, with areas near Palm Springs and […]
“Don’t Be Fooled By Recent Strength… A Post-Dollar World Is Coming”
“Don’t Be Fooled By Recent Strength… A Post-Dollar World Is Coming” The currency may look strong but its weaknesses are mounting… This month, as the dollar surged to levels last seen nearly 20 years ago, analysts invoked the old Tina (there is no alternative) argument to predict more gains ahead for the mighty greenback. What […]
UK “Passed Debt And Death Sentence On Millions” By Increasing Energy Price Cap By 80%
UK “Passed Debt And Death Sentence On Millions” By Increasing Energy Price Cap By 80% The 80% rise in the U.K.’s cap for consumer electricity and natural gas bills this fall will drive millions of households into energy poverty this winter as the worsening cost-of-living crisis stokes fears of recession. All the chatter today among British people […]
