Record-high European natural gas prices are expected to reduce demand and leave the EU’s storage inventories at 30% come March 2023, according to some optimistic estimates. However, this assumes that 1) Russia resumes the flow through Nord Stream 1 on Saturday, Sept 3 after maintenance, and 2) that the continent’s winter is a mild one.
For me, both of those assumptions are in doubt, more so the latter — and weather is the biggest wildcard.
Extreme cold in the northern hemisphere this winter–as I’m predicting will be the case–is expected to add 30+ billion cubic meters (1+ Tcf) of heating demand. That scenario would likely see European gas storage drop to zero well-before winter is through, and would also almost certainly leave the continent short of supplies heading into the winter of 2023-2024.
Surging gas prices pushed the cost of European electricity to the highest averages ever in August — in Italy, France, Germany and the UK, for example, spot power prices averaged an unprecedented 500 euros/MWh, according to Rystad Energy.
And while it is true that such cripplingly-high gas prices will boost EU storage levels, this is only because homes and businesses simply won’t have the funds to use it, which is hardly an ideal scenario. In many cases, choice will have been stripped from the consumer, and the reality will be that the lights and heating must be switched off in order to save money for other necessities, such as food–the cost of which has also spiraled to all-time highs, of course.
If this winter does indeed turn out to be a brutal one, as all the indicators are pointing to, then God help the poorest, God help the middle class, too. This is a squeeze on the 99% given that living standards across the board are now at their lowest levels in living memory.
Let’s hope at least some people heeded our warnings and invested in a wood stove and a few extra pairs of socks. This could get very grim very quickly–we’re already in September, winter is just around the corner–and the misery could last for years, too.
As the Prime Minister of Belgium recently said, “The next 5 – 10 winters will be difficult. A very difficult situation is developing throughout Europe.”
The Next Great Depression
The EU’s energy crisis, in combination with China’s real estate collapse, is more than enough to plunge the global economy into its next Great Depression. It’s simply a matter time.
How long do the cronies at the top want to keep kicking the ‘catastrophe can’ down the road? How much time do we have left to prepare? –These are the only questions worth contemplating.
The path we’re on IS NOT sustainable:
All this is without even mentioning the fertilizer plants shutting down left, right and center and the implications for next year’s harvests; it’s without touching on the dire company earnings reports once these record-high energy costs affect consumer spending (in the US alone, 774 CEOS have already stepped down in 2022–to June–the highest number since such data began being tracked 20 years ago — they sense the jig is up, clearly).
The snowball is building, heading for an inflection point, and there is no stopping it: The Crash Of All Things is building, after which will come their Great Reset with their digital IDs and CBDCs.
This is ALL by design, of course. If you don’t see it by now then you are part of the herd intended to be thinned. The New World needs the creative and the competent in order to successfully ‘build it back batter’.
This is a concept people struggle with: “Why on earth would they kill off the compliant and only keep the troublemakers?” Well, The New World Order will have little utility for a population comprised of mindless sheep, not at its beginnings anyway, rather TPTB will want only the inventive and the resourceful to construct their vision of Utopia for them (whether these folk do so knowingly or not–it will actually mostly be unknowingly given that the majority of the ‘awake’ still won’t be privy to the plan). And it is next, once the infrastructure and order settles, in the coming decades, that the sheep will be farmed and lead back in to ‘work it’.
Depopulation is a key first goal of theirs, and if you think such a statement is a woo-woo conspiracy theory then, again, I’m afraid you are one of the slumberous lambs destined for the slaughter. Wake up, or don’t — their plan will proceed regardless.
Enjoy your weekend.
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