They are energy prices Through the roof throughout Europe As demand for and new supply of cholera virus increases. During the global economic downturn, energy production declined sharply as industries closed, people stayed, and demand for electricity and fuel declined. Now, when the world returns to work and returns to the “new standard,” the demand for energy is restored, but the supply of energy is not readily available.
European leading natural gas meter, Dutch Title Transfer Institute, Reported earlier this year that the megawatt increase from ዩ 16 per hour to € 75 per hour by mid-September is an increase of more than 360%. Italian officials have warned that their citizens could expect a 40% increase in the coming weeks and months. Spain has agreed to send 100 euros to low-income families of more than 5.8 million and has sent a letter to Brussels urging the European Union (EU) to step up its efforts.
And then there’s Russia. About half of the EU’s natural gas comes from the Great White North, and Europe has become increasingly dependent on the Kremlin for energy security. This dependence is a major factor in the current energy crisis in Europe, which has not increased Russia’s exports to the European Union due to rising natural gas demand. For one thing, as epidemic limits ease, Europe will compete with Asia for some of its energy resources. So far, markets seem to support Asia for economic and strategic reasons.
There is speculation that this is a strategic decision by the Tein administration to open the controversial Nord Stream 2 pipeline. The 1,230-kilometer pipeline under the Baltic Sea to connect Russia and Germany has been completed but is yet to be completed. The project has been widely criticized for “maintaining the Union’s dependence on fossil fuels and prolonging President Putin’s geopolitical influence.” Euro News. And now Europe’s dependence on Russia could make the North Stream 2 look a little more appealing by entertaining Kremlin for the current energy crisis and opening a new entry point for much-needed natural gas.
Russia is not just playing with natural gas. The struggling European energy markets have been trying to import all kinds of energy, and energy producers have tried unsuccessfully to demand Russian coal. The European Union (EU) has been working on breastfeeding itself for years, and with the cheapest demand for fossil fuels rising this summer, the previously discarded oil source could be as short as the nearest exit routes to Russia. The world’s third-largest exporter of coal, almost entirely to Asia.
By Wood Mackenzie Ltd. “If all European resources were converted to coal, Russia would not be able to meet this demand,” said researcher Natasha Tyrina. He told Bloomberg this week. “That requires supply from other countries, for example the United States, but the situation there is the same everywhere else.
As we enter the cold winter months, the European power crisis is about to intensify, and our dependence on Russia to keep its lights on is getting stronger. Asia will also face a power crisis this winter, which will lead to the use of coal to burn the entire world when most countries promise to do the opposite. Countries are now embarking on a massive green energy transition, and the United Nations is “screaming”.Code Red for HumanityIn terms of climate change, this return to coal is a worrying development that hopes that even coal will not be enough to alleviate supply problems in the coming months.
Hale Zareba to Oilprice.com
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