@hardimpact

Issue is that EU management quality is horrible.

They already have 30-40% of fertilizers factories in total stop mode.

But instead of fast and real restoration they started talking about organic products and similar shit.

Germany will have to buy gas and coal in other countries, the decision to abandon Russian energy resources was announced by the head of the German Ministry of Economy, Robert Habek.

“We will have to buy gas, as well as coal in other countries in a larger volume, because we cannot depend so much on a country that no longer respects international law,” he said. Khabek also added that the launch of the Nord Stream 2 gas pipeline is not possible in the short and medium term.

Exchange gas prices in Europe soared by more than 40 percent during trading on February 24. Fuel has risen in price to a maximum since December 2021, for $ 1,400 per thousand cubic meters. This happened after the statement of Russian President Vladimir Putin about the start of a special military operation in the Donbass.

Earlier, Khabek said that the security of energy supply was ensured, despite the decision on Nord Stream 2, the certification of which was suspended.

“We need about 90 billion cubic meters of gas per year. The capacity of German gas storage facilities is 23 billion cubic meters of gas in case of full filling. There is a potential for LNG to guarantee supplies in winter,” the minister summed up.

I already told that EU elites are stupid as hell.

Exchange prices for gas in Europe during trading on Thursday, February 24, soared above $1,500 per 1,000 cubic meters. The price of March futures at the TTF hub in the Netherlands increased by 46% to €129.69 per MWh, or $1,520 per 1,000 cubic meters. m (based on the current exchange rate of the euro against the dollar), according to the trading data of the ICE exchange. Gas was last traded at these levels in December 2021.

Moist fun thing is that this chart is total lie, as lot of countries silently resell Mordor gas and declare it as of other origin :-)

Of course it will take a big hit.

We are willing to take the hit to fight Putin and support the Ukraine, our neighbours.

(Of course it suits the renewable industry's interests as well)

I expect Germany will restart their Nuclear plants and buy more gas from Norway.

But the prices will increase enormously for certain.

As I said, a big hit.

It's all very well for the US to tell Germany to cancel Nord Stream 2. It doesn't have any consequences for Biden's country.

Germany took the decision anyway, because regardless of Scholz yes or no, Putin is going to switch off the taps regardless.

We will source fertilisers and gas from other countries. Any suggestions which?

And like I always said - there are no winners in war.

I, for one, welcome this act of solidarity. I'd rather see gas rationing in Germany than have Putin go unopposed. And yes indeed i live in Germany and i use gas for heating myself.

It all comes down to whether the EU decides to destroy its economy by doing what we Americans call ‘suicide by cop.’ That’s where someone wants to die and picks a fight with a policeman in order to get the cop to shoot him.

Europe is staring at a complete collapse of its economy if they sanction Russia’s energy sector and shut down her ability to do business with their banks. The question no one is asking is, “Did they provoke this fight on purpose to do exactly this?” From where I’m sitting, it looks to me like their insistence on zero diplomatic concessions to Russia led directly to this outcome. So, the answer to my question is ‘Yes, it was deliberate.’

But, even if I’m wrong and there are other unstated reasons why Russia blitzed Ukraine’s military installations off the map last night, the fallout from this will be far higher energy prices than the weak coalition governments will be able to sustain. I expect the map of Europe will look very different by the end of 2024 than it does today, reaching far beyond Ukraine.

Residents of the countries of the European Union will experience some difficulties due to the desire of the EU authorities to be in solidarity with Ukraine, said the head of the European Commission (EC), Ursula von der Leyen, in an interview with Euronews.

“Yes, we know that every war has a price, but our solidarity with Ukraine is huge. If you look at the refugees who are accepted in the European Union, at the financial support, at the supply of military equipment, all this points to deep solidarity with Ukraine,” the head of the EC said.

"Some difficulties" will translate in largest ever life level drop in the history of Europe countries.

Ukrainian Foreign Minister Dmitry Kuleba said that Kyiv is demanding a complete embargo on trade in Russian oil and gas.

"We demand a complete embargo on the trade in bloody Russian oil and gas. The first decisions in this direction have already been made by Canada and this wave will continue to grow," Kuleba said during an online briefing.

Coal prices