The European Union's Energy Crisis Explained in One Minute

As an economist who actually lives in the European Union, it saddens me just how much confusion currently surrounds the energy crisis the EU is going through right now. From doom and gloom preachers who say things like "Europeans will freeze this winter" (no, we will not) to excessive optimism, for example believing this winter will be a walk in the park here in the European Union (once again... no, it will not).

This video tries to put a balanced perspective on the European Union's energy crisis on the table so that viewers, not just those who live in the EU (because as made clear throughout the video, the implications of this energy crisis are global), can put together a coherent strategy based on facts rather than emotion.

Nobody knows what the future holds but by deploying reason, you will be light years ahead of the average individual in terms of rational preparedness. Is a Wild West world coming? I certainly hope not. But make no mistake, the likelihood of this winter ending without social unrest issues is slim. Yet again, not just in the European Union. Act accordingly.

[OneMinuteEconomics]

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[jimmiller]

😂😂😂 the European Union leadership has to be the most incompetent in history. Self-Sanctioning 😂

[ahheng]

European governments is accountable for any citizens suffering this coming winter....

[wolverinexman]

Russia is still earn more because of global gas prices.. and Russia is selling their gas to china at a discounted price while china exporting it to Europe to a higher price and other nations..
Europe is paying higher prices from Russian oil through china.

[Benkimaru]

I can see CIA handwriting all over this piece

[JaySlaterHideandGoSeekChampion]

I'm stocking up on glow sticks and candles and extra blankets

[gameragodzilla]

As an American, I’m glad we became energy independent in the years prior to avoid having this issue.

Sucks for everyone living in the EU, though. I hope you guys pull through.

[NoreenHoltzen]

The first reason you cite as out of Europe’s control, the war in Ukraine, is completely in Europe’s control because the cause was the voluntary European sanctions on Russia, not the conflict it self as constantly quoted as the cause of the energy crisis. Europe could end these sanctions today and humbly negotiate with Russia to resupply and there would be a good chance that they would have some success. It has absolutely no effect on the conflict as is merely a case of Europe getting over its ego and detaching from Washington’s destructive orders.

[NikitaSerditov]

Infrastructure of sending gas to Asia does exist, it is called Power of Siberia.

[boardingurban]

Unpopular Opinion: be independent from your enemies

[kelvinpell]

Europe's energy crisis in three words:

AGENDA TWENTY THIRTY

[userjose]

🤣
lets forget all EU sanctions over Russia, that include GAS LOL, my guy hope the CIA is paying in advance !!
🤣

[thelazyne]

I agree. Pretty sure the whole EU knew this will come but we really really really really hoped it wouldn't.

[ladaminuetkittens]

Look at Utube video four years ago - NATO summit. Putin is telling to GE government to take care of their energy, or they will be totally dependent on Putin. Ursula smiled -
“I do not know what is he talking about”. And they all laughed. No more. HE TOLD THEM.

[Max]

Something is not clear from the video how Germany will NOT freeze in winter. The southern countries are understandable, but Poland, the Czech Republic, Germany?

[rembautimes]

Nord Stream’s gas at its reduced output can be replaced with about 15 LNG tankers cargoes a month . The issue is that prices skyrocketing , even at its current level of 200 Euros per MWh would contract industrial production. At 400 Euros per MWh it would cripple it. Thought this should have gotten more coverage from the press but it’s buried

[BBEnergy]

There needs to be a global approach to driving energy consumption down, reducing costs and long term reducing carbon.

[AwkwardTruths]

Everything I've read states Russia is just fine (economically) not selling energy to Europe. Some reports state Russia ruble is stronger.

Will Europe Freeze was answered no in this video. I disagree. Across Europe, over two million deaths can be attributed to excess winter mortality in the period 2002 to 2011 with electricity prices at or near normal. Two factors will make this winter's mortality worse: 1) highest energy prices recorded in Europe, and 2) COVID hit's the oldest hardest during the winter months.

[lv]

Luckily for us in EU there are plenty of people outside EU (as I bet this channel author) dictating what EU should do or should not do
/sarcasm

[aserher]

The european golden age is long gone, people are just starting to feel the consequences of years of decadence.