This Christmas…
“Oh it’s so cold!”
Every European…
“Mommy I can’t feel my toes”
Becomes a snowman!
“Tory MPs urge Sunak to launch campaign on cutting energy use”
Gasless Gringoes, 21st of December in your freezing living room on Netflix.
Don’t worry about the EU getting cut off from African LMG because the USA is ready and eager to supply whatever LNG EU nations need. Ofc just like when the US stepped in to take over the market opened up by the destruction of Nordstream, the EU will be paying a heavy markup over what they would have paid for African LNG. God bless the USA, advancing US national interests, and the power of free markets. Shareholders rejoice!
Good. There are consequences for acting like being warmongering barbarians who can’t let go of their neocolonial urges.
Proles freezing to death while their bourgeoisie overlords laugh and toast in their heated palaces is good?
Eh, that’s what people said about 2022/23 winter. Did anything actually happen? I didn’t notice
The last one was taken straight from a Guardian headline, only changing Truss to Sunak where the government campaigned to get people to “reduce their heating to save money”. It took a lot of public effort such as the don’t pay campaign to block attempts from the government and corporations from raising energy prices too much. Those prices are still going up right now sources and the overall cost of living has gone up ever since the beginning of the war source.
Although inflation has dropped, it’s still at an alarming 7.9% and so all the cost increases from last year will only compound in the coming winter, even if the Trans-Sahara pipeline is not affected. Thankfully all the Windsor palaces have pretty good heating and probably can help those who need a hot place to stay.
Either you’re too young to pay your heating bill or extremely privileged… Many families had to decide between heating or eating.
Interesting. Never heard of it. But it could be that is project will never have been build. Russian gas has been mostly replaced by liquid gas tankers. And the demand of gas is shrinkinhg in Europe.
https://en.wikipedia.org/wiki/Trans-Saharan_gas_pipeline?wprov=sfla1
Thing is that LNG is significantly more expensive and trades on spot markets making prices unpredictable. It’s also not possible to ship LNG in same volumes as pipeline gas. Gas in Europe hasn’t been so much replaced by LNG as the supply having been reduced leading to the recession and deindustrialization we’re now seeing. It’s no longer cost effective to do manufacturing in places like Germany, and industry is now shutting down.
The EU economy prognosis for 2023 is still positive. As far as I am aware only some countries are in a recession, not the EU in total.
And that “industry is shutting down” is also exaggerated.
Pretty much all the major EU economies are in recession, and Germany in particular is doing terribly. If German economy crashes then the rest of EU follows. And no, industry shutting down is not exaggerated. Deindustrialization is now a term that even entered mainstream parlance. It’s simply not possible for EU to be competitive in any sort of manufacturing given the energy prices in Europe.
I think this recession will be for Europe only. The US will canibalize part of EU’s industry while the rest moves to Asia. Living standards will never recover. Maybe this even becomes a depression. As you can see Germany’s PMI is fast approaching major recession levels.
