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Europe Sleepwalked Into an Energy Crisis That Could Last Years
Posted on 1/5/22 at 1:50 pm
Posted on 1/5/22 at 1:50 pm
quote:
The retired salt caverns, aquifers, and fuel depots that hold Europe’s stockpiles of natural gas have never been so empty at this point in winter.
Just four months after Amos Hochstein, the U.S. envoy for energy security, said Europe wasn’t doing enough to prepare for the dark and cold season ahead, the continent is grappling with a supply crunch that’s caused benchmark gas prices to more than quadruple from last year’s levels, squeezing businesses and households. The crisis has left the European Union at the mercy of the weather and Russian President Vladimir Putin’s wiles, both notoriously difficult to predict.
quote:
Although the situation came to a head abruptly, it’s been years in the making. Europe is in the midst of an energy transition, shutting down coal-fired electricity plants and increasing its reliance on renewables. Wind and solar are cleaner but sometimes fickle, as illustrated by the sudden drop in turbine-generated power the continent recorded last year.
Moscow’s increased leverage over its neighbors became apparent at the tail end of the last winter, an unusually cold and long one that depleted Europe’s inventories of gas just as its economies were emerging from the pandemic-induced recession.
quote:
At the same time, countries from Japan to China were boosting their imports of liquefied natural gas (LNG) in preparation for the coming winter. All of this left Europe struggling to replenish its dwindling stockpiles during the warm months, when gas is less expensive.
Still, Europe’s leaders betrayed no alarm. On July 14, the European Commission unveiled the world’s most ambitious package to eliminate fossil fuels in a bid to avert the worst consequences of climate change. With their eyes trained on longer-term goals, such as reducing greenhouse gas emissions at least 55% by 2030 from 1990 levels, the politicians did not sufficiently appreciate some of the potential pitfalls that lay immediately ahead on the road to decarbonization.
Europe’s natural gas production has been in decline for years, which has left it more reliant on imports. Now, Russia stands poised to further cement its position as the bloc’s top supplier.
quote:
A recent bump in LNG imports from the U.S. has provided some relief, but it’s temporary at best. France needs to take several of its reactors offline for maintenance and repairs, resulting in a 30% reduction in nuclear capacity in early January, while Germany is moving ahead with plans to shut down all of its nuclear plants. With the two coldest months of winter still ahead, the fear is that Europe may run out of gas.
quote:
With energy policy largely in the hands of member states, EU officials lack the authority to compel national governments to replenish gas inventories more quickly. To make matters worse, Russia is building troops on the border with Ukraine, a move U.S. intelligence sources say presages a possible invasion. About a third of Russian gas flowing to Europe crosses Ukraine, and though shipments weren’t disrupted during Russia’s 2014 annexation of Crimea, there’s no guarantee that would remain the case if a war were to break out this year.
The energy situation limits the scope of actions Western powers can take to counter Russian aggression, says Jason Bordoff, director of the Center on Global Energy Policy at Columbia University. “The ability of Europe and the U.S. to respond to a Russian invasion is constrained both by a desire not to exacerbate Europe’s energy crisis by sanctioning Russian energy exports and, more broadly, by the threat that Russia could retaliate to any confrontation by restricting gas flows into Europe, as Russia did in 2006 and 2009,” says Bordoff, a former energy and climate adviser in the Obama administration.
quote:
Some say the crunch could last until 2025, when the next wave of LNG projects in the U.S. starts supplying the world market.
“It’s hard to see how decent levels of gas storage can be achieved without additional Russian exports via Nord Stream 2 or existing routes,” says Massimo Di-Odoardo, vice president for gas and LNG research at Wood Mackenzie. “2022 will be another volatile year for European gas prices.”
LINK
It should be noted that many of the Left in our country, especially in the enviro-socialist wing, hate the currently building up of LNG facilities on the Gulf Coast. They rant and complain about these facilities promoting and continuing "dirty jobs" and "dirty energy".
But if we can't supply Europe with enough natural gas, then their enviro-wacko friends across the Atlantic will continue hurting more and more every winter.
Posted on 1/5/22 at 1:53 pm to ragincajun03
Sounds like they are in dire need of global warming
Posted on 1/5/22 at 1:53 pm to ragincajun03
What happened to windmills and solar panels?
Posted on 1/5/22 at 1:56 pm to ragincajun03
This is why they are about to classify nuclear energy as green. Reality hit them
Posted on 1/5/22 at 1:56 pm to ragincajun03
People were screaming this was gonna happen and they ignored it.
California has a rekoning coming with their clean power intiative as well...too much demand not enough reliable supply.
Co-Gen gas fired is the way, but clean coal, nuke de-reg and renewables all need to be in the mix as well
California has a rekoning coming with their clean power intiative as well...too much demand not enough reliable supply.
Co-Gen gas fired is the way, but clean coal, nuke de-reg and renewables all need to be in the mix as well
Posted on 1/5/22 at 1:57 pm to GumboPot
quote:
What happened to windmills and solar panels?
quote:
sudden drop in turbine-generated power the continent recorded last year
I bet they were sabotaged by evil dirty job workers.
Posted on 1/5/22 at 2:02 pm to DomincDecoco
quote:
California has a rekoning coming with their clean power intiative as well...too much demand not enough reliable supply.
They are literally building coal plants in Utah to address this issue.
Posted on 1/5/22 at 2:02 pm to ragincajun03
quote:
Europe is in the midst of an energy transition, shutting down coal-fired electricity plants and increasing its reliance on renewables.
Would be a total shame if they decided to tell the Greens to frick off.
Posted on 1/5/22 at 2:04 pm to jmarto1
quote:
This is why they are about to classify nuclear energy as green. Reality hit them
Apparently not, Germany is in the process of shutting down their last few nuclear power plants.
“Germany is shutting three more nuclear power plants — nearly half of the nuclear capacity it has left — even as energy prices soar and the country struggles to cut its carbon dioxide emissions. The nation’s remaining reactors will close down by the end of 2022. “
This post was edited on 1/5/22 at 2:07 pm
Posted on 1/5/22 at 2:05 pm to notsince98
quote:
California
quote:
building coal plants in Utah
That sounds about right.
Posted on 1/5/22 at 2:10 pm to jmarto1
quote:
This is why they are about to classify nuclear energy as green. Reality hit them
Also, it's the greenest power there is - way more so than solar or wind.
This is how we know that the climate apocalypse is not real (at least is not imminent) because they would not have shuttered nuclear power.
There is only one explanation for why they shuttered nuclear power and natural gas, requiring Chinese coal to ramp up - all this while supposedly in a greenhouse gas apocalypse. That explanation is that the apocalypse is made up, and the real mission is to drive up the value of renewables so they can make fortunes, all the while creating a crisis that can only be averted by a giant nanny state. THIS is the game and it is afoot!!!!
Posted on 1/5/22 at 2:10 pm to ragincajun03
Once sails are added to all European cargo ships, this crisis will dissipate.
Posted on 1/5/22 at 2:15 pm to notsince98
quote:
California
quote:
coal plants in Utah
And theyll pay just like New Orleans residents do after a hurricane, heat wave, etc.
The costs to scrub emissions to Cal clean power requirements for buying energy will cause the rates to rise up around $34/megawatt to approach.
If you live in LA, your power bill might be 500-700/mnth in 22/23.
some light reading:
link
quote:
This spring’s SB 100 report was a wakeup call about our prospects for achieving these targets: The state’s energy agencies are projecting that the state will need to build roughly 6 gigawatts of renewable and storage resources every year for the next 25 years to produce enough clean power to serve California’s energy needs. But over the last decade, the state’s current planning, procurement and permitting systems have only allowed us to build an average of 1.3 gigawatts of solar and wind per year.
That’s clearly not enough. It’s a big reason why the California Public Utilities Commission took action this summer to jumpstart renewable energy procurement to “historic” new levels – requiring utilities to purchase 11.5 gigawatts of renewable energy between 2023 and 2026.
The governor also signed important legislation that will include offshore wind as part of the state’s clean power portfolio.
that bold line hints at it...big costs coming.
Posted on 1/5/22 at 2:17 pm to DomincDecoco
quote:
that bold line hints at it...big costs coming.
Only to what's left of the middle class in California. The rich don't care because they can afford it, and the poor don't care because it will be subsidized for them.
Posted on 1/5/22 at 2:19 pm to ragincajun03
Great reset. Not an accident.
Posted on 1/5/22 at 2:21 pm to Centinel
One of the reasons a lot of people are running away to get ahead of it.
Posted on 1/5/22 at 2:25 pm to ragincajun03
did they really "sleepwalk"? Seems more like active decision making to me.
Posted on 1/5/22 at 2:29 pm to ragincajun03
USA is sleepwalking into a host of future crises: No respect for law enforcement, no such thing as males and females, give me money for not having a job, transfer portal.
Posted on 1/5/22 at 2:29 pm to ragincajun03
nm
This post was edited on 1/5/22 at 2:30 pm
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