Europe's Natural Gas Challenge

[hill]

It's weird how much I enjoy hearing Peter talk about how the world is falling apart

[Hannodb]

As a South African, I can only say: welcome to our world. We are quite used to loadshedding by now, but then again, we dont have freezing winters.

[terbentur]

As a German who was always pro nuclear this is such a frustrating thing to experience... at least I hope it will make it painful enough for people to reconsider at the next election... haha what am I talking about ALL the parties were and are in on it. We are just fucked

[colko]

So much about Germany but nothing about France.

In France more than half of the nuclear power plants are shut off today, due to safety regulations or lack of cooling water caused by the drought.

The dams in the Alps are empty and don't produce as much energy as normal, France is more reliant on water power than Germany.

Germany would have used less gas the last weeks but had to export electricity to France due to their problems. So the gas powered electricity plants are running more than usual.

But even today with almost no russian gas coming in, the storage of gas in Germany continues. And industrial consumption is down 20% without a collapse.

[briankgarland]

This energy situation in the West is a problem that didn't need to happen. We did it to ourselves by following insane political agendas and energy policies. Insane.

[stevepeter]

good video and explanation. i like your videos because you speak and articulate well the subject matters. I would like to see longer videos 20-30minutes with more details or coverage of wider current events since i have a long commute and would like to add you to the morning stream on my way to work or from work. Subscribed and a thumb up from me.

[joshuamills]

Finally someone actually hit the nail on the head about how wholesale energy is priced. It seems like a dumb system but when you realize that energy is a commodity and so it has to be priced at the same level regardless of who produces it and if you set it any lower than the marginal, these people will go out of business, you realise it makes sense.

[trades]

Just got your new book. It is really good, like your other books.Keep up the good job! Thank you for the insights.i hope one day to afford to see one of your live presentations.

[thesilkpainter]

I listen to someone like Peter, and I minus 50% of panic hype. Then I check out the main issues and think about how things can be improved on.

[Robertgriffinne]

I Live in the UK and all of what's been said is true. People are going through tough times and there is a difficult winter ahead. The biggest problem here is the gas and electric bill's have gone up 400% . Will be sharing this video with friends and families to help them realize and prepare. With inflation currently at about 10%, my primary concern is how to maximize my savings/retirement fund of about £300k which has been sitting duck since forever with zero to no gains.

[erickarnell]

If the issue is no longer supply but marginal cost, why wouldn't a modern government use deficit spending to make up the difference?

The new PM in the UK seems to be going that route.

[bobdmb]

nothing like good motivational speech by our friend Peter. greetings from Austria!

[krakhedd]

There's obviously a lot more but I'm not trying to write a novel:

This all starts with Gerhard Schroeder's time as Chancellor

[ApxWc]

As a Portuguese.. i feel schadenfreude. Time for Germans to make "structural reforms" to become "competitive", as their industry competitiveness is going to go bust, due to their "laziness" on relying Russian gas.

[davidroetzel]

This energy shortage will also mean great job opportunities for Polish plumbers. By getting rid of 90 degree bends for fluid pumping in industrial plants and replacing them with larger radius bends you reduce pumping costs therefore less fuel. That's a good five plus years of jobs. Assuming you can find pipefitters.

[Quidisi]

I'm not European, but I do know that Europeans are tough.
Not that long ago, they clawed their way out of some of the harshest living conditions known to man.
They'll be just fine. They don't need to suck the teat of Russia to survive.

[jonathantaylor]

Curbing demand = curbing your standard of living. German electric prices have always been expensive. At 35 cent a KWH the German consumer has always had a large incentive to keep their power consumption to a minimum. If people could get by on 20% less power they would have been doing that already.

[BandytaCzasu]

One missed factor - the Saudis (the marginal suppliers) are at a proxy war with Iran and its allies - and this means they really cannot afford to run out from spare parts for their Western made weapons. And if they fail to ramp up their oil and gas production at a reasonable price - there may be an issue with military supplies.

[thundereagle]

One thing Peter forgot to mention is that coal prices are also trough the roof. Now this is not caused by the war as coalprices hit an all time high around June 2021, and continued rising (at first caused by Asia's spike in coal after COVID, Japan and Germany who closed some nuclear power plants and the war right now). So energy for this year would be kinda expansive to begin with, now thanks to the war it will go trough the roof and governments need to subsidise it.

[gazberty]

I’m in the uk 🇬🇧 and the costs this winter are going to be crushing. They’ve already gone up 80%.