That means cusp of recession, as in being on it.
Germany on cusp of recession, says ifo, after business sentiment falls – German business morale fell more than expected in July as high energy prices and impending gas shortages push Europe’s largest economy to the cusp of recession, a survey showed on Monday.
The Ifo institute said its business climax index was 88.6, its lowest level in more than two years. June had also seen an unexpected drop to a downwardly revised reading of 92.2.
Germany wants clean, reliable energy. But first, to survive winter…
Germany is largely dependent on Russian energy, with half its natural gas and a third of its oil coming from that country. There’s currently no other way to quickly secure Europe’s supply of energy for heating, transportation, and industry, says the German government. But they’re trying. Leaders have decided to build liquefied natural gas terminals, which opens up new energy supplies but also raises a bevy of questions about Germany’s energy security.
Nuclear energy has been phased out, and renewables such as wind aren’t yet ready to pick up the slack, so lawmakers have decided that LNG is the answer to Germany’s energy crisis. They’ve announced plans to build two domestic LNG terminals, which re-gasify the supercooled form of natural gas that arrives on ships. Leasing floating terminals and securing supply via terminals elsewhere in Europe is also in the works. Essentially, Germany is trying to buy whatever it can, from wherever it can.
That means crunch.
And crunch here it soon will.
Implications of a German Energy Crunch (with added Supply-Chain Problems).
On Monday, utility Uniper SE, Germany’s biggest buyer of Russian gas, said it had received a letter from Russia’s state-owned Gazprom PJSC that claims force majeure—a legal declaration that exempts the company from fulfilling contractual obligations due to circumstances outside its control—to justify past and current shortfalls in gas deliveries.
I meant Green lie, of course.
And over there. And over there too. Damn. Little Green lies all over the place. Actually, they’re not all that little either.
German Government Lied About Nuclear – Germany’s Economy and Climate Minister, a Green Party leader, lied about nuclear fuel rods.
The German government is moving forward with plans to close its last three nuclear plants this December despite Europe being gripped by the worst energy crisis in 50 years. Robert Habeck, Germany’s Vice Chancellor and Federal Minister for Economic Affairs and Climate Action, said there is no point in operating them because Germany lacks natural gas, not electricity.
“Nuclear power doesn’t help us there at all,” Habeck said on Tuesday. “We have a heating problem or an industry problem, but not an electricity problem — at least not generally throughout the country.”
Besides, Habeck said, only Russia could provide Germany with the uranium fuel rods required to keep the nuclear plants operating, and there was no way to make sure the plants would be able to operate safely.
But none of what Habeck said was true. Coal, natural gas, and nuclear energy all generate electricity. Less nuclear means using more of coal or natural gas, which is why the German Cabinet, led by Habeck, just approved burning more coal…
There’s tons of trees in that park down the street. But I don’t have a fireplace.
Germans could switch to wood this winter to heat their homes as Russia withholds natural gas, Deutsche Bank says – German households could turn to wood as a heating source this winter as gas supplies remain tight while Russia restricts flows to Europe, Deutsche Bank wrote in a note Tuesday.
The bank said it expects gas consumption in Germany to be 10% below 2021 levels thanks to private households saving and high gas prices. It also noted that coal and lignite could emerge as replacements for natural gas in the industrial power sector.
But you better be polite. The Germans are thinking too much. Again.
Can You Speak To a War Criminal?
Russia has tens of thousands of lives on its conscience in Ukraine, yet calls for diplomatic initiatives are growing louder in the West. In Germany, a growing number in both the governing parties and the opposition would like to see talks with Moscow.
When the German chancellor speaks to Vladimir Putin by phone, the Russian president is always extremely polite. People familiar with the calls say that his voice it rather soft and that the tone is less preachy than in his public appearances. Putin usually speaks a few sentences of German as a greeting before switching to Russian, with an interpreter then jumping in to translate…
“You can’t negotiate with this Putin right now.” Annalena Baerbock, German foreign minister.
That means to implode or implosion.
Germany’s Nuclear-Power Implosion – The eco-left eschews reliable, clean power in an energy crisis in favor of coal and hope.
Europe’s climate obsessions have led to an energy crisis, and who would have thought the Germans would choose to make it worse. That’s what happened last Thursday when the Bundestag voted to shut down the country’s remaining nuclear power plants by the end of the year.
That means to shut down. Or shut off. Or turn off. Or put on warm clothing this winter.
Ukraine Latest: Russian Gas Shipments to Germany Due to Stop – Russian natural gas shipments to Europe via the Nord Stream pipeline to Germany are due to stop on Monday for planned annual maintenance, and Western allies fear President Vladimir Putin will use the opportunity to cut off flows for good.
As long as they might like to. It’s for the good of the country or something.
Germany dims the lights to cope with Russia gas supply crunch – Fears of winter energy crisis bring calls for shorter showers and cooler swimming pools.
Germany is rationing hot water, dimming its street lights and shutting down swimming pools as the impact of its energy crunch begins to spread from industry to offices, leisure centres and homes.
A huge increase in gas prices triggered by Russia’s move last month to sharply reduce supplies to Germany has plunged Europe’s biggest economy into its worst energy crisis since the oil price shock of 1973.
But not for very much longer.
Germans may have to ration hot water if Russia cuts off gas supply – Germany and other European countries depend on Russian oil and natural gas.
Germany is hunkering down for the possibility of Russia cutting off natural gas supplies, and some cities are preparing for the scenario that hot water for private households will need to be rationed going into winter.
Observing Hermann 