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I expect some major support programs will be put in place to address this. And it will probably involve a bit of money printing. No sane government is going to

I expect some major support programs will be put in place to address this. And it will probably involve a bit of money printing. No sane government is going to let its citizens deal with going bankrupt because of massively higher energy prices. So Germany, France, etc. will do whatever needs doing to prevent that. The real problem will be industry having to shut down or minimize operations. They'll be the ones bearing the real cost. This winter will be brutal in terms of its economical impact on industry. The next one, countries will be better prepared. It's Russia that will be suffering the consequences long term. I doubt any country in Europe wants to ever be dependent on them again to the extent that they have in the past.

sph 4y ago
> I expect some major support programs will be put in place to address this. And it will probably involve a bit of money printing. One of the two Tory lunatics^Hhopeful candidates for PM confirmed there's not much they can do to ease the energy price crisis without creating a massive hole in the British budget. But that's what countries will have to do, and it's not going to be pretty. The Western world just went on a massive printing spree two years ago because of COVID, a further temporary injection of capital and 2008 will pale in comparison to the next recession.
Sakos 4y ago
I've seen a report or two talking about how fertilizer plants are being shutdown or run at reduced capacity across Europe because of gas costs. Electricity is the least of our problems.
- chewz 4y ago
  Oh, It is much more then just fertilizer plants. Fertilizer plants stoped this week all over EU. (Yara Norway, Azoty Poland etc.) The moment you stop fertilizer plants you stop supplies of CO2 and NO2 industry gases and that stops dairy plants, meat factories, breweries etc... Basically you stop food production and distribution. And after cows get culled and you have 2-3 years before production can come back to initial levels. It is going to be rather tough decade for Europe.... And not just Europe... Europe’s Energy Crisis Threatens Glass Production https://www.wsj.com/articles/europes-energy-crisis-threatens-glass-production-11661598180?mod=hp_lead_pos10 https://www.wsj.com/articles/europes-energy-crisis-threatens... There’s a Carbon Dioxide Shortage, and Food and Drink Makers are Scrambling https://www.wsj.com/articles/food-beverage-companies-race-to-keep-plants-running-during-wide-co2-shortage-11661527088?mod=hp_lead_pos12 https://www.wsj.com/articles/food-beverage-companies-race-to...
  - Sakos 4y ago
    > It is going to be rather tough decade for Europe.... And not just Europe... The EU is the biggest exporter of food next to the US. Much of the world is going to be affected.

sph 4y ago

> I expect some major support programs will be put in place to address this. And it will probably involve a bit of money printing. One of the two Tory lunatics^Hhopeful candidates for PM confirmed there's not much they can do to ease the energy price crisis without creating a massive hole in the British budget. But that's what countries will have to do, and it's not going to be pretty. The Western world just went on a massive printing spree two years ago because of COVID, a further temporary injection of capital and 2008 will pale in comparison to the next recession.

Sakos 4y ago

I've seen a report or two talking about how fertilizer plants are being shutdown or run at reduced capacity across Europe because of gas costs. Electricity is the least of our problems.

chewz 4y ago
Oh, It is much more then just fertilizer plants. Fertilizer plants stoped this week all over EU. (Yara Norway, Azoty Poland etc.) The moment you stop fertilizer plants you stop supplies of CO2 and NO2 industry gases and that stops dairy plants, meat factories, breweries etc... Basically you stop food production and distribution. And after cows get culled and you have 2-3 years before production can come back to initial levels. It is going to be rather tough decade for Europe.... And not just Europe... Europe’s Energy Crisis Threatens Glass Production https://www.wsj.com/articles/europes-energy-crisis-threatens-glass-production-11661598180?mod=hp_lead_pos10 https://www.wsj.com/articles/europes-energy-crisis-threatens... There’s a Carbon Dioxide Shortage, and Food and Drink Makers are Scrambling https://www.wsj.com/articles/food-beverage-companies-race-to-keep-plants-running-during-wide-co2-shortage-11661527088?mod=hp_lead_pos12 https://www.wsj.com/articles/food-beverage-companies-race-to...
- Sakos 4y ago
  > It is going to be rather tough decade for Europe.... And not just Europe... The EU is the biggest exporter of food next to the US. Much of the world is going to be affected.