Energy Prospectus

Germany To Nationalize Struggling Uniper In Deepening Energy Crisis

BY TYLER DURDEN
WEDNESDAY, SEP 21, 2022 - 07:59 AM
Germany on Wednesday announced a move to nationalize struggling natural gas supplier Uniper SE as it strives to keep the industry functioning in the wake of a global energy crisis, according to Reuters.

Uniper is Germany's largest importer of Russian NatGas and has suffered tremendous losses after Russian energy giant Gazprom slashed Nord Stream 1's pipeline capacity to zero, forcing the utility to purchase natgas outside contracts on the open market at record high prices.

Read more: https://www.zerohedge.com/commodities/g ... rgy-crisis

All that knee slapping laughter at #45 when he warned the Germans at the UN about being dependent on Nordstream must be haunting now.

The "myths" of the Paris Climate Accord and being dependent on Russia for a high percentage of oil & gas will go down in European history as "Dumb and Dumber" policies. It is amazing to me how far we have let the Climate Change Wackos take this country and we are going to throw several hundred $billion more at energy projects that won't do anything about the Earth's climate.

It is all about using FEAR to control the population and about money.

...as the price of oil continues to struggle.