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Winter Is Coming: Europe’s (Natural) Gas Crunch (and in Due Course, Ours)

initforme

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Very nice badger. We have 600 acres of wooded land. I harvest the dead maple and oak and even softwoods. It's getting difficult at 90 years of age but I managed cutting it myself. My grandsons lift the bigger chunks in and pile it. I usually buy them a nice gift for doing it. It's self sustaining as new trees replace. 10 decent sized chunks per day keeps the house warm even when it's below zero.
 
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excalibur

excalibur

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From another article by the same author.




Today, Javier Blas, chief energy correspondent at Bloomberg News, tweets:


GAS MARKET: Another day, another record (and I lost count of how many days). European nat gas benchmarks UK NBP and Dutch TTF up ~5% on the day, trading at the equivalent of >$21 per mBtu. Since Sep 1, European gas prices are up ~20%.

Press reports have not gotten any more cheerful since I was writing last week, but a few themes remain consistent, most notably the chaos that has been introduced by adding climate-related central planning into the energy-supply mix. It was not the only cause of the current problems, but it certainly made a significant contribution to making things worse.

The Wall Street Journal:


Natural gas and electricity markets were already surging in Europe when a fresh catalyst emerged: The wind in the stormy North Sea stopped blowing.
The sudden slowdown in wind-driven electricity production off the coast of the U.K. in recent weeks whipsawed through regional energy markets. Gas and coal-fired electricity plants were called in to make up the shortfall from wind.
Natural-gas prices, already boosted by the pandemic recovery and a lack of fuelin storage caverns and tanks, hit all-time highs. Thermal coal, long shunned for its carbon emissions, has emerged from a long price slump as utilities are forced to turn on backup power sources.

The central planners now setting the overall course of Britain’s energy policy (to be fair, they are not alone in their idiocy, but with a nominally conservative government in charge, the U.K.’s failings seem, somehow, particularly egregious) appear to be taken aback by the fact that the wind doesn’t always blow when it’s meant to — a disappointing failure on the part of specialists who supposedly spend a lot of time thinking about climate and, yes, weather. It would be wrong, I would stress, to make any argument on the basis of this fiasco to the effect that these specialists don’t know what they are doing.

Quite wrong.

The WSJ:


“It took a lot of people by surprise,” said Stefan Konstantinov, senior energy economist at data firm ICIS, of the leap in power prices. “If this were to happen in winter when we’ve got significantly higher demand, then that presents a real issue for system stability.”

...​


 

Tom Paine 1949

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Good thing the Germans (and Russians) stood up for their own rights against American pressure and finished Nordstream2!
 

Admiral Rockwell Tory

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While I am reluctant to badmouth President Trump, he failed to exploit the advantage we have with nearly infinite natural gas resources, which could have greatly harmed Putin and his kleptocracy in Russia. Trump could have arranged to sell LNG to Germany at a price much more favorable than Russia is charging them.

But he didn't.
Ever tried to transport LNG by ship? All you do is create an inviting target for terrorists with a bomb that will level a small city. Then you have to store it when it reaches it's destination. The US has not built a LNG ship in over 40 years.
 
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excalibur

excalibur

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excalibur

excalibur

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Ever tried to transport LNG by ship? All you do is create an inviting target for terrorists with a bomb that will level a small city. Then you have to store it when it reaches it's destination. The US has not built a LNG ship in over 40 years.


American LNG exports hit a record high.

 

Ringo

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"If the winter is colder than usual, I am concerned that there will not be enough gas for heating in some parts of Europe," State Department spokesman Hochstein said.

And here he should also add: "And who did this?" Who prevented Europe from building new gas pipelines in every way? But he didn't.
 

Ringo

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"The Telegraph" writes that Russia is manipulating gas prices in Europe.
Sorry, british gentlemen, but the price of gas is manipulated exclusively by the invisible hand of the market on the stock exchanges, as you wanted.
And Russia has offered non-market long-term contracts with fixed prices... What kind of scheming villains these russians!
 

Deplorable Yankee

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What a mess in the making over the false religion of "climate change".

From a long and very informative article.

...
Back in the real world (via The Daily Telegraph on September 9, my emphasis added):





...
Sadly, the Biden administration is set on making things more difficult for U.S. producers of natural gas, thus eroding that advantage, a point only underlined by this not altogether surprising, but profoundly stupid development (via Bloomberg) on Friday:





The perfect will be the enemy of the good.
...
Given all the above, is there a certain irony about stories such as this? Well, yes.








Old retired Germans will have to choose between filling thier bellies and turning on the heat yet again
 

Ivan88

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Over 10 years ago, or so, California had a bad fire year.
The Russians offered 2 of their big jet powered water bombers that make the stuff California was using look like a bucket brigade. Russia requested Calif. simply buy the fuel and feed the flight crews.
The big fire control guru stopped it, because he said, "We fight fires for a living. We have to protect our contractors."
This means they pretend to stop fires, but actually prolong them for profits. And the fire officials start fires too.
 

Admiral Rockwell Tory

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American LNG exports hit a record high.

That just proves our feelings for our customers is not that great. Last year's ammonium nitrate explosion in the port of Beirut that killed 100 and injured thousands would be like a firecracker compared to a LNG tanker explosion.

"A report, put out by Good Harbor Consulting assessing the risk of a proposed LNG terminal in Providence, Rhode Island, concluded that a successful terrorist attack on a tanker could result in as many as 8,000 deaths and upwards of 20,000 injuries."
 

Ivan88

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About 1970, Europeans were busy working on fuel cooperation deals with Russia.
But the nice Talmudists, Richdudes & Communists built the EU racket. And under that scam, they hold most of Europe hostage with many forms of oppression.
Freezing people to death is one of EU's fun activities.
And, murdering the mother of Aryan Syro Christian Israel Europeans is also one of the EU's pet projects which Communist USA is also involved in for Greater Khazaria.
 
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excalibur

excalibur

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That just proves our feelings for our customers is not that great. Last year's ammonium nitrate explosion in the port of Beirut that killed 100 and injured thousands would be like a firecracker compared to a LNG tanker explosion.

"A report, put out by Good Harbor Consulting assessing the risk of a proposed LNG terminal in Providence, Rhode Island, concluded that a successful terrorist attack on a tanker could result in as many as 8,000 deaths and upwards of 20,000 injuries."


LNG is a huge worldwide business.
 

whitehall

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Batteries are for flashlights. When the cost of fossil fuel energy goes up the cost of everything goes up.
 

Admiral Rockwell Tory

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LNG is a huge worldwide business.
Yes, and a prime target for a terrorist attack.

Many years ago, I lived and worked on the Naval Base in Newport, RI. On one of the piers were two LNG tankers each the size of a small aircraft carrier. Why were they there? They were obsolete despite being fairly new and prime candidates to blow up. Besides, they were US-flagged which meant they were too expensive to operate.

They sat "welded" to the pier for about 10 years until they could be refurbished and sold to transport Nigerian natural gas.
 
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excalibur

excalibur

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Yes, and a prime target for a terrorist attack.

Many years ago, I lived and worked on the Naval Base in Newport, RI. On one of the piers were two LNG tankers each the size of a small aircraft carrier. Why were they there? They were obsolete despite being fairly new and prime candidates to blow up. Besides, they were US-flagged which meant they were too expensive to operate.

They sat "welded" to the pier for about 10 years until they could be refurbished and sold to transport Nigerian natural gas.


What isn't a terrorist target? Pipelines are, storage facilities for NG and oil are.
 

2aguy

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Good thing the Germans (and Russians) stood up for their own rights against American pressure and finished Nordstream2!


Yeah.......being Putin's bitch is going to do wonders for Europe....
 

2aguy

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"If the winter is colder than usual, I am concerned that there will not be enough gas for heating in some parts of Europe," State Department spokesman Hochstein said.

And here he should also add: "And who did this?" Who prevented Europe from building new gas pipelines in every way? But he didn't.


Don't forget nuclear power to...the greenest of green energy.
 

Ringo

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Yeah.......being Putin's bitch is going to do wonders for Europe
Putin's bitch? Russia simply sells product that people need.
America sells "democracy and the rights for sexual perverts"
Do you think it's more profitable to be an American bitch? France has just become "convinced" of the profitability of this position...
 

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