“A Tsunami Of Shutoffs”

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Riddick
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“A Tsunami Of Shutoffs”

Post by Riddick » 08-29-2022 11:44 AM

Prices of just about everything are rising, but electricity is going up at an especially rapid rate: This increase is not just due to a generalized inflation, nor is it explained by the rising cost of natural gas. Rather, it is driven by the many billions of dollars we are spending on expanding “green” energy. Even with massive government subsidies it is still too expensive.

The result is tens of millions of Americans face the prospect of having their electricity shut off, as they are unable to pay their power bills. Or, more likely, both national and state governments will double down by subsidizing consumers’ electricity expenses. Thus the “green” disaster rolls on. FULL STORY
"Everything Woke turns to Image" - Donald J. Trump

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Meanwhile, In The UK

Post by Riddick » 08-29-2022 12:57 PM

Energy Crisis: 1 in 4 Brits Will Not Turn On Heating Over Winter Months – Poll

It is the latest stat showing how much Britons are struggling under the country's myriad economic crises: polling shows around 23% of people plan to leave their heating off this winter due to the souring cost of energy.

A price increase was announced late last week, with the price cap for domestic energy customers being raised by 80 per cent. One union boss recently hinted at the possibility of street riots over how dire things are for many in the country.

FULL STORY
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Re: “A Tsunami Of Shutoffs”

Post by Malaria_Kidd II » 08-29-2022 07:08 PM

I can see 24-7 street riots just to keep warm! In every country well above the Equator...... :(

Tha, tha, thanks Riddick. The both of us may get knocks at the front door this Greened up Winter. :cold: :nod:


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“The Lamps Are Going Out All Over Europe”

Post by Riddick » 09-12-2022 11:32 PM

Simply put, Europe’s self-inflicted energy crisis is a lot worse than it looks. Nations are scrambling to backstop consumers from having to pay electric rates that could increase tenfold or more—if the electricity is available in sufficient quantity at all.

What this means is massive government bailouts for energy suppliers.

Britain’s new prime minister Liz Truss plans to freeze consumer energy costs for two years, at a likely cost to the government of perhaps $200 billion, because utilities face bankruptcy if they can’t pass along higher fuel costs.

The bill for continental Europe, and especially Germany, which may have to shutter even more of its heavy industry, is sure to be much higher—perhaps reaching $2 trillion over the coming year.

As upside-down energy firms are facing up to $1.5 trillion in margin calls shortly, an energy triggered financial crisis could begin even before the leaves turn & drop from trees this fall.

FULL STORY
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EU Energy Price Freeze Could Backfire

Post by Riddick » 09-20-2022 10:31 PM

UK and European governments freezing energy prices risks blanketing the Continent in power blackouts, a Wall Street investment bank has warned today.

Keeping energy bills artificially low will likely stimulate energy demand, possibly causing supplies to run dry, Goldman Sachs said in a note to clients.

“With interventionist policies announced so far prioritising capping energy costs over curtailing demand, the concern is always that such measures end up incentivising higher energy consumption, thereby making the gas deficit worse,” the bank said.

“The more reductions [in energy consumption] we see, especially in summer… the less likely Europe is to face blackouts or lack of heating in the winter,” Goldman added.

Last week, UK prime minister Liz Truss announced energy bills will be pegged at £2,500 for two years from October at a cost of around £150bn. Europe’s largest economies have launched similar market interventions to prevent households suffering a historic hit to their living standards.

Weaker than usual supply has propelled gas prices to record highs, triggering cost of living crises in Britain and across the Continent, prompting governments to step in. Businesses will need to respond to swelling energy costs by curbing economic activity to ensure governments do not impose energy rationing measures, Goldman said.

FULL STORY
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U.S. Energy Producers Warn European Buyers: No Bailout Is Coming

Post by Riddick » 09-20-2022 10:41 PM

The threat of power rationing across Europe persists even after EU officials held an emergency meeting last week to starve off the impending winter energy crisis. EU countries have increasingly relied on US energy imports, though shale bosses warned the ability to boost oil and gas supplies would be challenging.

"It's not like the US can pump a bunch more. Our production is what it is," Wil VanLoh, head of private equity group Quantum Energy Partners, one of the shale's most prominent investors, told Financial Times. "There's no bailout coming," VanLoh added. "Not on the oil side, not on the gas side.

Shale's inability to rapidly increase crude production is no surprise, regarding Halliburton Co.'s CEO Jeff Miller and Exxon Mobile's Darren Woods's warnings over the summer that markets will remain tight for years due to a lack of production growth.

Europe can thank the Democrats and the Biden administration for their war against crushing the US energy industry that led to massive divestments across the sector, which crippled oil production growth and refining capacity, and pressured/shamed the world into withdrawing any capital allocations to fossil fuels.

On top of the Democrat-led crippling of the US energy industry, EU leaders have been on an ESG-crazed mission to decarbonize their power grids with renewable (now finding out -- not so reliable) energy and are frantically bringing back crude oil, coal, and natural gas power generators ahead of the cold season. Some EU countries are even extending the life of nuclear power plants.

A perfect storm of factors plagues Europe: the inability of US shale to ramp up production (because of Democrat's war on oil), Russia reducing energy exports, grid decarbonization, and EU's Russian oil embargos.

... and why could crude prices have bottomed earlier this week? Well, maybe Bloomberg's report that Biden administration officials plan to refill the SPR when crude falls around $80 a barrel. Also, SPR draws end in October, which means less crude on the market and possibly higher prices. Even as demand in China slumps, cities are reopening from Covid lockdowns, a sign demand could soon rise in Asia.

FULL STORY
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Re: “A Tsunami Of Shutoffs”

Post by Malaria_Kidd II » 09-21-2022 01:41 AM

SPR = Strategic Petroleum Reserves :realmad:

Everything this new? Deep DC Woke admin touches goes to 💩 🙊 🙈 🙉🚩❗

Tomorrow at the U N NYC HQ **it will hit the unstoppable Rus sian fan blades!

"Not I said the little red hen!" 🦃Plausible deniability will be forthcoming that can't EVER be walked back!

It will be just another two fisted day!


MK II ∆=®™
.......all wasteful, climate⚛changing wars. Begun again by the Red Blooded Royals, or by a bewitching god-like dictator, or any so called religion, or for any other reasons like a world wide virus pandemic! MK 4/26/15

M.A.D.!


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