Europe's Energy Crisis will be much worse in the winter

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

Europe's Energy Crisis will be much worse in the winter

Post by dan_s »

I pray that we have learned a lesson from what the Climate Change Wackos have done to Europe. The middle class will be crushed.

Notes from The Energy Investor this morning (8/8)

If you haven’t been paying attention to the energy crisis that’s taking place right now in Europe, I strongly recommend you check this out. The cost of electricity recently hit another record high, with no relief in sight. Of course, all of this is leading to intense rationing as European countries slowly head into a full-blown energy crisis this winter. The most recent news out of Russia is that Nord Stream output levels have been cut to 20% of total capacity as Putin insists that maintenance must be done.

As if things weren’t going badly enough for Europe, Norway may be on the verge of slashing its electricity exports, which means the energy crunch could get much, much worse for Britain. How bad will it get inside the U.K.? Current projections suggest that energy prices are going to surge 70% in October. The issue for Norway comes down to critically low water levels. Reservoir levels in the country are currently at 49.3% at a time when they are typically around 75%. Remember, Norway sources 90% of its electricity from hydroelectric sources. And in order to avoid a domestic shortage, Norway will have to cut its vital power exports.

We have friends living in London. They told us yesterday that their energy bills have tripled and they expect them to go higher.
Dan Steffens
Energy Prospectus Group
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