Demonstrators take part in a protest to promote energy independence from Russia, amid skyrocketing energy prices, in Berlin, Germany, October 22, 2022. REUTERS/Christian Mang
Reuters: Germany's Half-A-Trillion Dollar Energy Bazooka May Not Be Enough
FRANKFURT (Reuters) - Germany is bleeding cash to keep the lights on. Almost half a trillion dollars, and counting, since the Ukraine war jolted it into an energy crisis nine months ago.
That's the cumulative scale of the bailouts and schemes the Berlin government has launched to prop up the country's energy system since prices rocketed and it lost access to gas from main supplier Russia, according to Reuters calculations.
And it may not be enough.
"How severe this crisis will be and how long it will last greatly depends on how the energy crisis will develop," said Michael Groemling at the German Economic Institute (IW).
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Update: Germany spending $500 billion to ‘keep the lights on’ – media (RT)
WNU Editor: This type of spending is not sustainable.
4 comments:
F'em.
The West is self destructing because the voters are brainwashed to believe the planet is dying and needs to end fossil fuels and hatred or ignorance of the power and viability of Western values. Germany has done nothing right on energy, foreign affairs and defense for 30 years. Britain and most other Western Europeans same situation and there are no quick fixes short of 10 years.
They are supposed to be clever people guess clever is as clever does
Working as intended.
The lapdog spent so long fearing devourment by the Chinaman that it never even considered it's owner would be the one to eat it.
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