The View from Europe

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dan_s
Posts: 34463
Joined: Fri Apr 23, 2010 8:22 am

The View from Europe

Post by dan_s »

Here is what the Energy Crisis looks like from the view point of EU citizens.

TTF < This is Europe's index for natural gas prices
Day change: $3.878 up 5.8% | Settle: $65.948US/MMBtu | September 2022

JKM < This is the Japan/Korea index for natural gas
Day change: $0.053, up 0.1% | Settle: $45.443US/MMBtu | September 2022

Comments from one of our very smart members
· BHI Gas Rig Count: -1 net rig last week as Marcellus-Utica -1 net rig, Permian +1 rig, and Woodford -1 rig

· We sound like a broken record, but power prices continue to break records: day-ahead UK and German electricity prices reached all-time highs as wind generation fell below normal levels and Norwegian gas flows stalled on planned maintenance...

· ...Germany announced a surcharge on household electricity bills of around 2-3 cents per kwh to spread the burden of higher energy costs...

· ...meanwhile, thousands of British consumers are joining "Don't Pay UK," an anonymous group that simply refuses to pay their soaring energy bills this year

· H2OMG: Low river levels are straining Europe's power grid and increasing the call on scarce gas for power as coal barges cannot navigate German waterways and French nuclear plants can't get enough water for cooling...

· ...Norway warned it would cut electricity exports to Europe due to its own low hydropower levels...

· ...in China, record high temperatures have led to low hydropower reserves, prompting the grid to ration electricity to industrial users in Sichuan
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IMO this is a direct result of the Paris Climate Accord. U.S. citizens must demand a common sense energy policy or Americans will suffer this same fate.
Dan Steffens
Energy Prospectus Group
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