European Energy Crisis, Foreshadowing for the rest of the world?

[ExtraSlow]

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News in Spain yesterday was about the potential for some energy-intensive industries to be forced to close by the government. Should be great for Europe's already battered economy...

Germany is waaay ahead of you.

[ZenOps]

They already shut down the fertilizer production plants months ago. It takes a crazy amount of energy to create Nitrogen fertilizer, and without Russian natgas - its going to be tough to just keep the heat to the point where they don't turn into peepsicles.

Trudeau has taken the stance that farmers reduce fertilizer usage "for the environment". Anyone who knows what factories have already shut down know the score. Lying to avoid panic? It works, but I prefer brutal honesty.

[davidI]

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Germany is waaay ahead of you.

To be fair, I don't follow the news here much so they may have been talking about it for months.

[suntan]

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News in Spain yesterday was about the potential for some energy-intensive industries to be forced to close by the government. Should be great for Europe's already battered economy...

Not sure what the problem is, it's what you wanted.

[ExtraSlow]

German steel making is a big part of thier economy.

[suntan]

Greenpeace rejoicing!

[ExtraSlow]

They probably are, the idiots. Thermal coal is going to be very popular...

[Cagare]

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They probably are, the idiots. Thermal coal is going to be very popular...

Already is hugely popular in eastern Germany. Wonder how much steel/aluminum prices will be impacted as a result of this.

Heard this morning a toilet paper manufacturer is going out of business. Another run on toilet paper soon? Also, lots of businesses coming to the end of their energy contracts, renewals are not looking so good.

https://www.theguardian.com/business...laf-scholz-gas

[suntan]

Toilet paper is an artifact of the evil capitalist mindset.

[ExtraSlow]

rag on stick is the communist way comrade.

[Cagare]

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rag on stick is the communist way comrade.

For my family it was fig leaves that were the smoothest.

[zechs]

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German steel making is a big part of thier economy.

Well now we have somewhere for all that excess China steel capacity to go!

Oh wait...

[davidI]

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Not sure what the problem is, it's what you wanted.

What I wanted?

I wanted the Canadian Government and EU to strike a deal to build LNG facilities and export gas to replace Russian supply a decade ago.

Instead, Canada is like fuck no, we want AECO to only get 25% of Henry Hub and the Europeans are like fuck no, we want to give billions to our aggressive neighbour so they can buy weapons to attack us with.

[suntan]

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What I wanted?

I wanted the Canadian Government and EU to strike a deal to build LNG facilities and export gas to replace Russian supply a decade ago.

Instead, Canada is like fuck no, we want AECO to only get 25% of Henry Hub and the Europeans are like fuck no, we want to give billions to our aggressive neighbour so they can buy weapons to attack us with.

EU doesn't want local NG drilling, so here you are.

[Xtrema]

Exporting decades of slave labor and pollution to Russia and China and this is what it gets you.

[ZenOps]

Yeah but it is halfway around the world.

By the time you've finished building and transporting by pipeline, and then building a specialized port for LNG ships and then transporting. How much actual fuel have you used just to move all that fuel? Its pretty obvious that Sri Lanka can't afford it, Haiti can't afford it, there is even solid question that Britain could afford it.

https://www.google.com/search?q=dist...ta+and+germany

I mean: Its not quite like the cost of aerial re-fuelling of a jet fighter - but its definitely not cheap. If Britain wants, they have to at least trade Canada a few sets of islands for it.

https://www.sandboxx.us/blog/burning...fighter-pilot/

Arguably, you could use all that pipeline material - build the Tsangpo dam and have 100 coal power plant equivalency - in the middle of the Himalayas mind you.

All in on electric?

[davidI]

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EU doesn't want local NG drilling, so here you are.

To be fair, EU has an excessive population density so drilling would need to be offshore and most of the coastal waters are largely used for tourism or fishing.

Outside of the North Sea, Cyprus is the only country with worthwhile offshore deposits that I'm aware of but the conflict with Turkey has made development difficult.

Meanwhile, AECO spot is around $4.50, HH $8, Dutch TTF $45, and LNG Japan/Korea $55.

North American and EU/Asia are doing business but one country is being left out of it (it starts with CAN and ends with ADA).

[ExtraSlow]

Britain, Poland and France all have lots of suitable onshore areas to drill for natural gas away from large population centres. It's not in any way a geography or populations density issue.

[Xtrema]

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To be fair, EU has an excessive population density so drilling would need to be offshore and most of the coastal waters are largely used for tourism or fishing.

Outside of the North Sea, Cyprus is the only country with worthwhile offshore deposits that I'm aware of but the conflict with Turkey has made development difficult.

Meanwhile, AECO spot is around $4.50, HH $8, Dutch TTF $45, and LNG Japan/Korea $55.

North American and EU/Asia are doing business but one country is being left out of it (it starts with CAN and ends with ADA).

Basically people who listen to a certain teenager on energy policy is getting royally f'd right now.

Sounds about right.

[mr2mike]

Where is greta now?!
Grand Cayman?