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NC_Tigah
LSU Fan
Carolinas
Member since Sep 2003
112880 posts

Natural Gas Wholesale Prices in Germany Are Up 20X Over Last Year.

Uniper is one of Europe's largest energy companies. It is German based. Uniper cultivated a long relationship with Russian suppliers dating back 50-yrs to the iron curtain days. They even set-up a Russian branch of the business, Unipro.

Incredibly, as with German leadership in general, Uniper had no concern Russia would ever use reduced NatGas supply as a weapon. There was zero preparation for that eventuality. There was no fall-back plan. How can people have their heads that far up their asses?

Anyway, two weeks ago Uniper went belly-up. Germany nationalized it for $8 Billion, the latest step in a $29 Billion bailout effort. LINK

Uniper CEO Klaus-Dieter Maubach discussed Europe’s deepening energy crisis earlier this month following Russia’s indefinite suspension of gas flows via the Nord Stream 1 pipeline. The 6 min interview was candid, occurred just prior to Uniper declaring insolvency, and is worth a watch. LINK

Keypoints:

• Maubach openly admits German Politicians and Uniper both made a litany of mistakes.

• Europe has no port capacity to import more Liquid Nat Gas. There is no supply redundancy. If there was, Germany/Europe would be able to manage the crisis without much of an issue. Building that infrastructure may take years.

• The worst is yet to come for Europe. NatGas WS prices are up 20-fold year-to-year.








... oh, and the obligatory pic of Germany's UN delegation laughing as President Trump predicted this fiasco.








fjlee90
LSU Fan
Baton Rouge
Member since Nov 2016
7049 posts

How does sauerkraut fare in the freezer?

Cause them Jerry’s are going to be cold as shite this winter.


stelly1025
LSU Fan
Lafayette
Member since May 2012
7502 posts
 Online 

We own 29 rental properties here with just over half gas heating. My tenants are about to feel the squeeze. I am currently renovating a house with oil heating and I have been getting people asking if it is oil and when it will be ready without advertising.The insanely stupid politicians here have made it hard for everyone and I feel a hard swing coming against the Greens and the SPD.


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60
DMAN1968
Member since Apr 2019
8260 posts

I'd be fine with it going up another 200X.


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USA
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TheFonz
USA Fan
Somewhere in Louisiana
Member since Jul 2016
18709 posts

quote:

Cause them Jerry’s are going to be cold as shite this winter.


It’s going to be their best winter since 1944-45.


dakarx
Member since Sep 2018
5495 posts

They are going to be begging for more global warming before spring.


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40
trinidadtiger
Member since Jun 2017
9955 posts

And up over 40 times versus less than 2 years ago (prices had already started to move a year ago).

And Trump darn near begged them for LNG degassing plants and they laughed.

I keep saying the Germans are bragging that they are at 91% storage, their storage is a 10 weeks supply. Things are gonna get very very expensive.

And Europeans being Europeans, they are gonna start eating their young. Wait for them to literally start trying to steal from other countries, its coming. A german is always a german.


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40
GumboPot
Georgetown Fan
Member since Mar 2009
102861 posts
 Online 

I'm okay with this. This is what Germany wants.


TerryDawg03
Georgia Fan
The Deep South
Member since Dec 2012
14012 posts

quote:

I'm okay with this. This is what Germany wants.


Politically, maybe. But there are plenty in Germany who don’t want this. I’m not going to break out the schadenfreude just yet.


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