FOREX: Europe is in a full-blown energy crisis
Power and natural gas prices are skyrocketing I've been warning about this for awhile.
Things have gotten out of hand quickly in Europe and this is going to be a political crisis in short order as people and companies get slammed with heating and energy bills that they can't afford to pay -- at least without digging into broader spending.
In the UK, power prices are at critical levels. They rose after a series of low-wind days.
That's been compounded by natural gas prices and there was a fire at a key electricity station yesterday that shut down a major cable that brings in power from France.
Read more ....
Update #1: Goldman Warns of Blackout Risk for European Industry This Winter (Bloomberg)
Update #2: European Gas Prices Continue Parabolic Rise As EU Debates Nord Stream 2 Certification (Zero Hedge)
WNU Editor: This is why Russia feels confident that Nord Stream 2 will not be blocked by Europe .... Still no need for Nord Stream 2? European gas prices hit decade high due to shortage of supply (RT).
5 comments:
"In the UK, power prices are at critical levels. They rose after a series of low-wind days. "
You keep telling them that wind is not feasible as base load and they keep calling those that do climate deniers.
You can prove it on paper with calculations and the poets will not believe you.
Europe is run by people lacking elementary physics knowledge. Solar in northern latitudes is a waste of money.as there is never enough sunlight in the winter. Wind is worse since no guarantees it blows at sufficient speed at any given time. At least the sun comes up at a predictable time.
Next the EU told the USA a giant FU to their LNG, favoring Russian gas instead.
Europe is screwed because they are ignorant or taking bribes from Putin.
I read somewhere that at the earth surface the wind blow on average 20 mph. Didn't consider what they meant by surface, but lets consider 100 or maybe a bit more.
A) Give the number of people (From 7 Billion to 8 billion)
B) Figure out energy per person.
C) Multiply
D) Figure out the capacity of windmill over time. it decreases with age and is variable throughout the day and year.
E) Divide C by D.
F) Figure out how many windmills you can cover the globe with
G) Is E < F.
H) Do not attempt this, if you are a liberal.
Anon @ 4:36
And you are lacking the elementary knowledge of what is actually happening here in Europe.
So Hans give us a rundown in 1 to 3 paragraphs.
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