Saudi Arabian Sleeze Not So Sleezy After All

When trying to wiggle your way out of your self-imposed energy dependency on Russia.

Don’t get me wrong. Germans are very concerned about Saudi Arabia’s human rights record. Very concerned. Or they were. Up until very recently.

Germany’s Scholz in Saudi Arabia as Gas Crunch Bites Economy – German Chancellor Olaf Scholz looked Saturday to secure more energy supplies, meeting with Saudi Crown Prince Mohamed bin Salman to discuss future cooperation, including on hydrogen imports, as Europe’s largest economy struggles with fallout from the Russia-Ukraine war.

Talks between the two leaders in Jeddah dealt with the relationship between their countries, Scholz said. Germany is seeking to import “large amounts of hydrogen” amid a push to reduce carbon-dioxide emissions, he said.

More Funds

Are always more fun!

Give me a break, people. Look, I’m burning this money as fast as I can!

German minister call for more funds for companies as debt debate intensifies – The German economy minister (Greens) on Thursday called for more government funds to support companies as a debate intensifies on whether Berlin should suspend its debt brake next year.

German Of The Day: Steuereinnahmen

That means tax revenues.

How’s it go again? The bigger they are, the harder their tax revenues fall? Jeepers. I wonder why tax revenues would be falling in Germany these days. It’s not like businesses are only just beginning to go bankrupt thanks to Germany’s dependency on Russian gas, Green utopian make-believe, skyrocketing energy costs and the resulting crazy inflation. It must be something else.

German tax revenues fall in August for first time this year – Federal and state government tax revenues fell in Europe’s biggest economy during August for the first time this year, the finance ministry said on Thursday.

German Of The Day: Widerspruch

That means contradiction. This is a word that is in constant demand in Germany.

Germany’s Energy Crisis Plan Contradicts Itself – The German government is desperately trying to conserve gas—and subsidizing its use.

Germany’s self-imposed target is to cut back gas use by 20 percent, which is roughly the shortfall caused by Russia’s discontinuation of gas supplies amid its war in Ukraine. Yet…

The federal government has said it will set price caps on gas and electricity by the end of the year. So… Contrary to the greater goal of throttling back consumption, price caps and subsidies will have a positive effect on demand. By easing the burden on consumers, they dilute the price signal to save. “This increases the risk of brownouts and blackouts over the winter,” said Toby Couture of the energy consulting firm E3 Analytics, “as citizens and businesses consume more power than the system can effectively supply.”

German Of The Day: Alarmstufe Rot

That means red alert.

Red alert for the German economy. After months of speculation, it is now official: Russia is turning off the gas tap on the Nord Stream 1 pipeline indefinitely. Germany is facing difficult times. Not only a cold winter is looming, but an industrial ice age.

German economy to shrink all winter as gas taps are turned off, Bundesbank says – The German economy is contracting already and will likely get worse over the winter months as gas consumption is cut or rationed, the country’s central bank said on Monday.

Germany To Begin Refining Oil That Doesn’t Exist

Once Russia turns off the supply. If it hasn’t already.

Germany takes control of Russian-owned refinery – The German subsidiary of Russian oil giant Rosneft was placed under trusteeship, giving Germany’s federal regulator control of a key source of fuel for Berlin.

The German subsidiary of Russian oil giant Rosneft was placed under trusteeship on Friday, giving Germany’s federal regulator control of the PCK refinery in Schwedt, a key source of fuel for the city of Berlin…

Rosneft Deutschland accounts for about 12% of Germany’s oil processing capacity and is one of the largest oil processing companies in the country, the ministry said.

We’re Just The Government

We only create the inflation. We’re clueless when it comes to knowing how to stop it.

Anybody out there have any ideas?

German government tasks experts with proposing inflation-busting ideas – he German government will establish a committee of experts and task them with coming up with policy proposals to combat the soaring cost of heating and gas, Chancellor Olaf Scholz said on Thursday.