Are Europe''s Energy Crisis "Solutions" Doomed To Failure?
Are Europe''s Energy Crisis "Solutions" Doomed To Failure? Authored by Pete Hoekstra via The Gatestone Institute, Europe is facing a growing energy crisis. Individuals and industries are being battered by rising energy costs. On August 31, Russia shut down the Nord Stream 1 gas pipeline to Germany for initially what was supposed to be 72 hours, but followed by an announcement of " technical difficulties " that would prevent a resumption. Russian energy giant Gazprom also announced that natural gas supplies to French energy company Engie SA would be immediately reduced. These actions have created significant uncertainty and the threat of much higher energy prices in Europe as the cold winter season approaches. In the Netherlands last month, I had the opportunity to discuss the skyrocketing energy costs. Monthly utility bills of 400 to 600 euros are not unusual. One company said it was spending four times the amount for natural gas than a year ago. The company indicated because of these higher costs, it would be cutting its production by 50% this winter.
Are Europe''s Energy Crisis "Solutions" Doomed To Failure?
Are Europe''s Energy Crisis "Solutions" Doomed To Failure? Authored by Pete Hoekstra via The Gatestone Institute, Europe is facing a growing energy crisis. Individuals and industries are being battered by rising energy costs. On August 31, Russia shut down the Nord Stream 1 gas pipeline to Germany for initially what was supposed to be 72 hours, but followed by an announcement of " technical difficulties " that would prevent a resumption. Russian energy giant Gazprom also announced that natural gas supplies to French energy company Engie SA would be immediately reduced. These actions have created significant uncertainty and the threat of much higher energy prices in Europe as the cold winter season approaches. In the Netherlands last month, I had the opportunity to discuss the skyrocketing energy costs. Monthly utility bills of 400 to 600 euros are not unusual. One company said it was spending four times the amount for natural gas than a year ago. The company indicated because of these higher costs, it would be cutting its production by 50% this winter.