over9k
So I didn't tell my wife, but I...
- Joined
- 12 June 2020
- Posts
- 5,226
- Reactions
- 7,318
100k/day drop announced. SFA.
over9k
So I didn't tell my wife, but I...
- Joined
- 12 June 2020
- Posts
- 5,226
- Reactions
- 7,318
In case anyone's wondering, they do *not* have enough to get themselves through the winter. They're building storage and delivery sites (to get it from the americans) like mad but this all takes time. The last numbers I saw were that alternative sources/delivery methods can currently supply only about 15% of what they actually need.
In the meantime, there's going to be rationing or similiar.
- Joined
- 14 February 2005
- Posts
- 15,109
- Reactions
- 16,925
Yep, this is the point where ~40 years' worth of warnings all come to a head.
There's not enough ability to accept LNG deliveries, turn it back into gas and inject that into the network.
Even if there were enough LNG terminals, there aren't enough ships to deliver the LNG.
And even if there were enough terminals and ships, there's not enough LNG production capacity, globally, to supply them. Hence the price of LNG is sky high even with Europe's limited ability to physically import the stuff.
No quick fix there.
- Joined
- 8 June 2008
- Posts
- 12,456
- Reactions
- 18,121
Last news France going to send gas to Germany and trade it against German coal station electricity.
Macron is also cranky with EDF (power generator newly nationalised ...) With the head of EDF blaming the nuclear power shortage on Macron
Needless to say there are plenty of available speeches of Macron recently stating that EDF should prepare to close dozen of nuclear plants as France was moving out of nuclear.
Which EDF acted on..until Ukraine....
Obviously preparing ro close a station is not small feat and all maintenance was stopped causing the current nightmare there.
Now energy bills are x6 for some French businesses and public heated swimming pools are closing right and left...the start.
I somehow do not see inflation easing in the EU zone...
over9k
So I didn't tell my wife, but I...
- Joined
- 12 June 2020
- Posts
- 5,226
- Reactions
- 7,318
Yeah, my question is what they're actually going to do in response. Rolling blackouts/shut industry down? Gas rationing? Fertiliser rationing? Food rationing?Yep, this is the point where ~40 years' worth of warnings all come to a head.
There's not enough ability to accept LNG deliveries, turn it back into gas and inject that into the network.
Even if there were enough LNG terminals, there aren't enough ships to deliver the LNG.
And even if there were enough terminals and ships, there's not enough LNG production capacity, globally, to supply them. Hence the price of LNG is sky high even with Europe's limited ability to physically import the stuff.
No quick fix there.
I don't think they even know this yet, i.e they're still trying to figure it out themselves.
Let's be real, those idiots deserve it. They were warned repeatedly. Hopefully the rest of the world wakes up to proper energy management. Not popular trends.
over9k
So I didn't tell my wife, but I...
- Joined
- 12 June 2020
- Posts
- 5,226
- Reactions
- 7,318
Have you ever met a leftist?
I think when Trump warned them, they truly dug in their heels. It's funny how Europe was constantly touted as this leading green energy adopter and then BLACK SWANNED B1TCHES.
It wasn't even a black Swan. There's been a war in Ukraine for years.
- Joined
- 20 July 2021
- Posts
- 11,002
- Reactions
- 15,266
sadly , i totally and absolutely agree
i could see what the EU was becoming when URW took over the international part of Westfield so decided NOT to buy into URW ( had Europe not been going to hell in a hand-basket , URW would have been a nice solution to international property exposure for me )
- Joined
- 20 July 2021
- Posts
- 11,002
- Reactions
- 15,266
ARGUABLY , Russia could have come in anytime after the 2014 Minsk Accord and called it a peace-keeping effort sure they might have had to keep the front line jet-fighters at home , BUT the signed agreement with France and Germany ( and no effort from NATO members to suppress Ukraine , gave Russia all ammunition it needed to ask for full UN backing for the peace-keeping play )
the BLACK SWAN will be when they realize cheap Russian energy is NOT coming back ( not gas , not oil , not coal , and not uranium , don't be shocked if Russia demands payment in gold delivered to Moscow, not that digital crap )
over9k
So I didn't tell my wife, but I...
- Joined
- 12 June 2020
- Posts
- 5,226
- Reactions
- 7,318
Lots of this now - demand side plummeted on account of energy bills, production of XYZ so much more expensive because of energy bills, factory gets mothballed.
Obviously has a knock-on/circular flow effect. Defensives are still the play.
over9k
So I didn't tell my wife, but I...
- Joined
- 12 June 2020
- Posts
- 5,226
- Reactions
- 7,318
Ignore the war entirely - you want putin et al to control your energy supply under *any* circumstances?
You want to be reliant on anyone else for ANY of your *needs*?
If you asked a leftist, the only response you'd get would be "see this is why we need to get rid of nations - no more nations, no more disagreements!".
- Joined
- 8 June 2008
- Posts
- 12,456
- Reactions
- 18,121
True, and very very obviously,we should really wake up at our position vs China
Be it as our export market for... everything..or import market for.. everything here in Oz
Counterintuitively..yeap long word..i actually believe that reliance ..Which is very bad..is actually lessening the rise of inflation for us..for the moment.
We can pray that we remain the lucky country but might need to burn a lot of candle.
Inflation wise, we are really seing the collapse of the AUD lately, even after yesterday's RBA rate increase, and that is going to worsen inflation here.
The positive point: the frog doom and gloom portfolio is liking it this week
over9k
So I didn't tell my wife, but I...
- Joined
- 12 June 2020
- Posts
- 5,226
- Reactions
- 7,318
Lol
over9k
So I didn't tell my wife, but I...
- Joined
- 12 June 2020
- Posts
- 5,226
- Reactions
- 7,318
Only the yanks & arabs left if this happens.
- Joined
- 2 February 2006
- Posts
- 14,009
- Reactions
- 2,891
Europe inflation rate by country March 2024 | Statista
The average inflation rate in the EU was 8.3 percent in March 2023, with Hungary having the highest inflation and Luxembourg the lowest.
www.statista.com
UK inflation rate 2024 | Statista
The UK inflation rate saw a slight uptick in July 2024, with prices rising by 2.2 percent, compared with two percent in June and May.
www.statista.com
Australia: CPI annual inflation rate by capital city 2022 | Statista
In June 2022, the Consumer Price Index (CPI) in Perth, Australia recorded a change of 7.4 percent on the 2021 June quarter, higher than any other capital city in the country.
www.statista.com
Last edited:
bluekelah
StockFan
- Joined
- 25 March 2013
- Posts
- 246
- Reactions
- 539
yeah not that impressive, I wonder what happened to that saudi oil minister who said OPEC were gonna cut to send prices aboe $100USD/barrel.
I guess the next GFC is gonna be coming from the European energy crisis and possibly collapse of the EU and EURO as we know it today.
over9k
So I didn't tell my wife, but I...
- Joined
- 12 June 2020
- Posts
- 5,226
- Reactions
- 7,318
Looks like the bottom might be in for now lads:
Plenty of volatility lately though if you've been cheeky enough
Plenty of volatility lately though if you've been cheeky enough
over9k
So I didn't tell my wife, but I...
- Joined
- 12 June 2020
- Posts
- 5,226
- Reactions
- 7,318
Yeah it's demand side dropping that has oil dropping. Basically none of the supply issues have been sorted.
- Joined
- 3 November 2013
- Posts
- 1,566
- Reactions
- 2,769
Amazing that oil is now cheaper than pre Russia-Ukraine war...
Meanwhile CMEFedWatch tool is giving an 80% chance to a 75bps hike in September. Hmmmm
Meanwhile CMEFedWatch tool is giving an 80% chance to a 75bps hike in September. Hmmmm
Similar threads
