Can Europe Actually Afford To Kick Fossil Fuels?

Can Europe Actually Afford To Kick Fossil Fuels?

From oilprice.com

When European gas prices began to climb last year, it was because of a fast-deepening mismatch between demand and supply of energy, with renewables underperforming at a crucial time. The mismatch is still here, and supply just got cut considerably. Austria, the Netherlands, and Germany will be firing up coal plants that were supposed to be retired in the not too distant future as the supply of Russian gas shrunk because of technical problems, according to Gazprom, or political reasons, according to Germany's economy minister. And a German utility just sealed the first European long-term LNG supply deal with a U.S. ... (full story)

- Older Stories
Eurozone growth slows sharply to 16-month low in June as demand stalls and price surge continues
From pmi.spglobal.com|Jun 23, 2022|1 comment
Eurozone economic growth deteriorated sharply to a 16- month low in June, according to preliminary PMI data, reflecting a stalling of demand growth. Manufacturing output ...
Falling exports and strong inflation taking a toll on German economy, with outlook looking...
From pmi.spglobal.com|Jun 23, 2022
Latest ‘flash’ PMI® data from S&P Global showed a sharp loss of momentum in the German economy at the end of the second quarter. Falling exports acted as a drag, while there were ...
French growth slumps to weakest since peak Omicron disruption at start of 2022
From pmi.spglobal.com|Jun 23, 2022|1 comment
The French economy endured a marked slowdown in growth at the end of the second quarter, with private sector business output rising at the slowest rate since the wave of ...

- Newer Stories
UK's Kwarteng: Britain has reduced Russian gas imports by 75% compared with last year
From @financialjuice|Jun 23, 2022
tweet at 4:20am: UK'S BUSINESS MINISTER KWARTENG: BRITAIN HAS REDUCED RUSSIAN GAS IMPORTS BY 75% COMPARED WITH LAST YEAR.
German Economy Minister: If gas doesn't come via Nord Stream 1 after maintenance, then further...
From @FirstSquawk|Jun 23, 2022|7 comments
tweet at 4:20am: GERMAN ECONOMY MINISTER: IF GAS DOESN'T COME VIA NORD STREAM 1 AFTER MAINTENANCE, THEN FURTHER MEASURES NEEDED
UK business expectations slump to weakest since May 2020 as new order growth loses considerable...
From pmi.spglobal.com|Jun 23, 2022|1 comment
June data indicated that output growth across the UK private sector was unchanged from the 15-month low seen in May. Resilient business activity trends were seen across the ...