the EU will pay an additional $2 trillion for electricity in the next year.

[livingston]

What is predicted to happen in Europe is just stunning, literally stunning.

♦Context – According to official data from the World Bank, the combined Gross Domestic Product (GDP) of the European Union was just over $17 trillion US dollars in 2021. That is the last calculated measure. The combined GDP value of European Union represents roughly 12.78 percent of the world economy.

According to analysts for Goldman Sachs, the current energy crisis in Europe has increased electricity prices at a rate that is increasing almost daily. Within the data it is now estimated that households within the EU will pay an additional $2 trillion for electricity in the next year.

Put that $2 trillion into context with their GDP, and that scale of energy cost would be wiping out 12% of the purchasing strength within the total EU economy. Forget about buying anything else, if this analysis is correct Europeans will be buying food and energy, nothing else.
When you suck 12% of the purchasing power out of an economic engine simply to maintain the status of current energy use, everything else starts to collapse.

Wow, Europe Household Electric Bills Estimated to Jump by $2 Trillion Next Year, That's 12% of Their GDP - The Last Refuge

What is predicted to happen in Europe is just stunning, literally stunning. ♦Context – According to official data from the World Bank, the combined Gross Domestic Product (GDP) of the European Union was just over $17 trillion US dollars in 2021. That is the last calculated measure. The combined...

theconservativetreehouse.com

 

[SomeSoldier]

Done intentionally to make people poorer and beg for the government to save them. Please daddy govern us harder. Make me your bitch.

 

[livingston]

UK Energy Bills Expected to Rise 80% in October”.
Posted Sep 1, 2022
The entire West will face higher energy prices due to climate initiatives and Russian sanctions. The British energy regulator Ofgem released a troubling report citing that the average household will pay $4,200 on energy over the next year, compared to the current $2,330 annual average.

The UK raised its energy price cap in April by 54% and is expected to raise it once more this October by 80%. “This will be devastating for many families,” Jonathan Brearley, chief executive of Ofgem, told the BBC. “The difficult news I have to give today is that prices look like they are continuing to rise.” This is a drastic understatement.

An Ipsos poll found that one in 10 people already find it “very difficult” to afford energy costs over the past three months, and two in 10 found it “fairly difficult.”

UK Energy Bills Expected To Rise 80% In October | Armstrong Economics

The entire West will face higher energy prices due to climate initiatives and Russian sanctions. The British energy regulator Ofgem released a troubling

www.armstrongeconomics.com

 

[ManualF150]

Now that the Euro is less than the United States Dollar, it's gonna get real interesting.

 

[tirwin1]

Those clever, sophisticated, modern europeans. Boy do I feel so inferior to them.

 

[meketrefe]

Stop Nuclear Energy they said ..

Now they are scrambling to reopen coal plants since they dismantled perfectly functional multi billion dollar nuclear plants.

Good for the French who didnt drink the cool aid.

 

[Saltwater60]

CoMing to America via Biden’s inflation reduction act?

 

[DoOver]

National Grid is saying thier rates will be increasingly by 40%

 

[livingston]

German Minister of Economics, Robert Habeck, Under Fire as Energy Driven Reality of Economic Collapse Starts Sinking In​

German Minister of Economics Robert Habeck is under fire after his comments during an interview with an ARD broadcaster on Tuesday evening.

The conversation surrounded the astronomical rise in the price of energy taking all the income away from people who would purchase other goods and services. As Germans no longer can afford purchases, the stores and businesses can no longer operate. Minister Habeck was asked if that means a wave of bankruptcies and business closures are forecast.

Mr. Habeck responded that businesses can stop operating, but that doesn’t mean they will go insolvent. Just because the business loses most or all of their revenue, doesn’t mean they will go bankrupt.

German Minister of Economics, Robert Habeck, Under Fire as Energy Driven Reality of Economic Collapse Starts Sinking In - The Last Refuge

German Minister of Economics Robert Habeck is under fire after his comments during an interview with an ARD broadcaster on Tuesday evening.

theconservativetreehouse.com

Habeck on potential bankruptcies ("Naturally, we will just print more money and it will be ok.")​

Things are about to get very spicy in Germany as the reality of the unsustainable Build Back Better agenda starts to sink in. The intellectual disconnect from an economic minister to the consequences of an energy policy removing trillions of dollars from the economy is stunning.

 

[livingston]

Bessie2003
September 7, 2022 3:29 pm
they discuss the European economic situation, and in the last 5 minutes or so touch on the end of the petro-dollar and what’s happening with the US economy too.
the closing remarks along the lines of “. . . two years they destroyed the entire collective West . . . in two years they could destroy what took decades, upon decades, upon decades to build . . . that’s what happens when you put an imbecile in charge, they can do enormous damage . . .”

 

[livingston]

From the above post
Monica
September 7, 2022 3:38 pm


a 21st century 1st world citizenry is about to learn from their own first-hand experience what it was like to live in the 1300’s. no electricity. no heating. no running water (the pipes will all freeze), no food. and Germans won’t be the only ones learning a lesson about the green new world their leaders have unleashed on them.

3
Reply

Bessie2003
September 7, 2022 3:45 pm


Reply to Monica
It will be interesting to see what those all those Middle Eastern and African ‘immigrants’ do when winter comes.

 

[livingston]

Trump gave Europeans a ‘long overdue’ reality check​

Author Douglas Murray says former US President Donald Trump said “Germany was too reliant on Russian gas and that it would be paying a price for this” at the UN four years ago. “And the German diplomats … all laughed away and giggled away at Donald Trump,” he told Sky News host Rita Panahi. “Now, you may not think that Donald Trump is the world’s finest purveyor of truth. “But he was telling the truth on this occasion. “He was saying something that was absolutely true and giving the Europeans a reality check that was long overdue.”

 

[kev74]

They won't spend $2 trillion on electricity if there is no electricity to buy.

Hopefully the Europeans can tap into the Nordstrom pipeline and get lots of warm sweaters and long johns.

 

[livingston]

I read a comment where if they want to start some nuke plants up it will not happen this year ,,, From mothballs to running takes time... Will Russia open the pipelines if these countries are sending supplies to Ukraine ?
The new world order will freeze folks to death this winter. It is possible the entire system could soon collapse. The you tube I posted above is a bit slow but they understand what is happening. (go for broke ).....
In a cold winters day below zero and windy I myself can go through 5 gal/day heating oil ... $1000/month. ... On top of spending $100/week for my car.. Hate to live like the Chinese. ... I have been in China in the winter and most homes are 45-50 degrees. Bundle up and it was doable . I have eaten in restaurants with no windows at 25 degree Temps. . Folks get use to it.
Welcome to the new world order folks.

 

[ManualF150]

National Grid is saying thier rates will be increasingly by 40%

Yes, it's true about 40%.

FWIW, National Grid also operates in Europe if anyone is wondering. So it's like what I said a couple threads ago... "What happens over across the pond, eventually drifts over..."

Welcome to National Grid Group

National Grid is an energy company operating in the UK and US. We deliver electricity and gas safely, reliably and efficiently to the customers and communities we serve – all while working towards a clean energy future.

 

[livingston]

EU Commission Announces 5 Point Plan for Energy Crisis, Including Increased Imports of U.S. Natural Gas Driving Up Prices for U.S. Consumers​

According to the U.S. Energy Information Association (IEA), U.S. storage of Liquified Natural Gas (LNG) is 12% below the five-year average (LINK). Additionally, the IEA is expecting the U.S. to export 11.7 billion cubic feet of LNG per day during the fourth quarter of 2022 — up 17% from the third quarter. The destination of that export is Europe.

Consider that 43% of U.S. households use LNG for home heating, and power suppliers use LNG to create electricity. With the massive 2022 exports of LNG to Europe (+17% in fourth quarter alone), that means lower domestic supplies and increased prices here in the United States for electricity and home heating. We are seeing and feeling these massive price increases right now. As a result, consider this reality….

Not only are U.S. taxpayers directly paying for the majority of costs in Ukraine, but we are also subsidizing the European Union by exporting LNG and driving up the price here at home.

Not a single word about increasing the supply of any traditional energy resource. These ideologues are so committed to the cult of climate change and renewable energy, they are intent on destroying the economy in order to lower demand to the level of their windmills and solar farms. This is madness, absolute madness.

EU Commission Announces 5 Point Plan for Energy Crisis, Including Increased Imports of U.S. Natural Gas Driving Up Prices for U.S. Consumers - The Last Refuge

These ideologues are so committed to the cult of climate change and renewable energy, they are intent on destroying the economy in order to lower demand to the level of their windmills and solar farms.

theconservativetreehouse.com

 

[RedBreast21]

Forget the EU. My electric bill went up an avg $80 per month over the summer. I wasn't even using AC that much. I made a deliberate effort. Check the bill, yep kilowatt hours were lower than 2021 summer. We currently have 20 million people behind in their electric bills here in the U.S.

 

[livingston]

 

[gun_slinger_boy]

At least it'll only be for 2 weeks.