{"id":64715,"date":"2023-01-13T18:29:54","date_gmt":"2023-01-13T23:29:54","guid":{"rendered":"https:\/\/olduvai.ca\/?p=64715"},"modified":"2023-01-13T18:29:54","modified_gmt":"2023-01-13T23:29:54","slug":"europe-is-being-deindustrialized-with-a-purpose","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=64715","title":{"rendered":"Europe Is Being Deindustrialized With a Purpose"},"content":{"rendered":"
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Europe Is Being Deindustrialized With a Purpose<\/a><\/h3>\n<\/div>\n
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Photo by\u00a0Felix Mittermeier<\/a>\u00a0on\u00a0Unsplash<\/a><\/figcaption><\/figure>\n

T<\/span>he sun is shining, birds are singing and natural gas demand destruction goes on unabated in the EU. One might ask here: why have\u00a0TTF gas prices<\/a>\u00a0fallen below 70 Eur\/MWh (1) actually to even\u00a0lower levels than in Asia<\/a>? Mainstream media tries to spin the story that this is largely due to mild weather, energy saving and a rise in US LNG deliveries \u2014 and this is where thinking usually stops. According to Irina Slav writing for\u00a0oilprice.com<\/a>\u00a0though:<\/p>\n

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The first red flags appeared last year: much of the gas consumption decline in Germany that was praised by politicians\u00a0actually came from demand destruction among industrial users<\/strong>\u00a0because of prohibitive prices. In other words, gas demand in much of Europe last year fell because it was destroyed and not so much because everyone suddenly became conscientious with their gas use. But demand destruction is not good for the economy. It means shutdowns of factories and layoffs.<\/p>\n<\/blockquote>\n

In other words: Europe is deindustrializing as expected, and simply shed\u00a020% of it\u2019s gas consumption<\/a>\u00a0as a result. Mission accomplished.<\/p>\n

Low demand begets low prices. Should the price of Natural Gas fall further still though, it would quickly deter LNG ships to pursue more lucrative business opportunities \u2014 i.e.: deliver their gas to Asia instead, where they can sell it for a higher price. That would (will?) leave the EU with even less gas supply. Norwegians alone will surly not able to fill in the gap, especially so that their \u2018production\u2019 is actually on a high plateau and about to peak soon (then decline).<\/p>\n

\u2026click on the above link to read the rest\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"

Europe Is Being Deindustrialized With a Purpose Photo by\u00a0Felix Mittermeier\u00a0on\u00a0Unsplash The sun is shining, birds are singing and natural gas demand destruction goes on unabated in the EU. One might ask here: why have\u00a0TTF gas prices\u00a0fallen below 70 Eur\/MWh (1) actually to even\u00a0lower levels than in Asia? Mainstream media tries to spin the story that […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3,5],"tags":[17338,281,328,32578],"class_list":["post-64715","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","category-geopolitics","tag-deindustrialization","tag-europe","tag-fossil-fuels","tag-the-honest-sorcerer"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/64715","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=64715"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/64715\/revisions"}],"predecessor-version":[{"id":64716,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/64715\/revisions\/64716"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=64715"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=64715"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=64715"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}