EU Energy Panic Goes Full GameStop As Russia Tensions Rise
At a certain point, you run out of creative hyperbole.
Such is the case with European power and gas prices, which continued a relentless ascent Monday amid renewed concerns over the Nord Stream. Flows through the link will "pause" again later this month, ostensibly for maintenance on the sole functioning gas turbine at Portovaya's compressor station.
Flows were already running at just 20% of capacity. Just as scheduled maintenance in July stoked concerns that the Kremlin might find an excuse t
I like to think that there are some options to bring high gas prices down: political will in The Netherlands to pump their Groningen field a little longer and at higher capacity
One huge factor for the current blowout in gas prices is the drought conditions effecting European river systems: hydro power is lagging due to decreased flows and coal can’t get shipped up river because the water ways are too shallow.
Apparently a few French nuclear power stations are on maintenance, too.
Average EU gas storage is about 80% full (higher than at any given time in 2021), so they did their homework on that front in the past couple of months. It’s just that other forms of power generation are temporarily effected and therefor gas powered plants have to shoulder more of the burden.
It’s obviously foolish to call the top, but I think one solid week of rain on the old continent could reverse that latest surge.
I looked at the gas chart and thought about Texas energy prices during winter storm URI. What a hot or soon to be cold mess this is.
H-Man, Europe is being crushed on energy. It will not abate but will spread. Black Swan?
Realpolitik. Check. US response?
The ECB has to keep hiking, … and Putin must be defeated…!
As Cato said “Carthago delenda est”
Cut and replace