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European economy and energy

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Dutch Josh View Drop Down
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Joined: May 01 2013
Location: Arnhem-Netherla
Status: Offline
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Dutch Josh Quote  Post ReplyReply Direct Link To This Post Topic: European economy and energy
    Posted: September 08 2022 at 8:17am

DJ, 

Some of the links are (for now) in Dutch, with short translation;

-[url]https://www.gelderlander.nl/binnenland/nederland-weer-europees-kampioen-zonne-energie~a2fc74f3/[/url] or https://www.gelderlander.nl/binnenland/nederland-weer-europees-kampioen-zonne-energie~a2fc74f3/ ; NL again champion in solar power-like in 2021. 

EU did get 12% of its energy needs may-august 2022 from solar energy, in 2021 it was 9%.

NL did get 23% of its energy production from solar energy, Germany 19%, Spain 17%...NL solar-energy capacity increased 30%. 

DJ, for most countries there is (lots of) room to increase solar energy. 

At [url]https://ember-climate.org/countries-and-regions/regions/europe/[/url] or https://ember-climate.org/countries-and-regions/regions/europe/ also more info on wind energy, other renewables...

-[url]https://eemshavenonline.nl/scheepvaart/lng-terminal-eemshaven-compleet/[/url] or https://eemshavenonline.nl/scheepvaart/lng-terminal-eemshaven-compleet/ 

In the north of NL another LNG port (after Rotterdam) did open. Rotterdam capacity 12 billion m3, the new north-NL LNG-port capacity 8 billion m3 LNG per year...most of it from the US and middle east.  

-[url]https://nltimes.nl/2022/09/07/netherlands-secures-enough-gas-winter-meeting-eus-target[/url] or https://nltimes.nl/2022/09/07/netherlands-secures-enough-gas-winter-meeting-eus-target ;

The gas storage facilities in the Netherlands are now 80 percent full on average, meeting the EU targets for the coming winter. The government will continue to fill the storage facilities in the coming period, to create a buffer for absorbing any potential setbacks, Minister Rob Jetten for Climate and Energy said on Wednesday.

“It is good news that, despite the difficult circumstances, we have managed to fill the gas storage to over 80 percent almost two months before the European deadline,” Jetten said. “That is all the more important now that we see Russia again throttling the gas supplies for political reasons.”

The government previously earmarked an extra 10 million euros to fill the Bergermeer gas storage facility as much as possible above the original target of 68 percent. Jetten now expects to reach 90 percent capacity there. The facilities in Grijpskerk and Alkmaar are 100 percent full. And Norg is filled to over 85 percent.

“We will continue to fill the gas storage facilities in the Netherlands in the coming period so that we have a buffer for the uncertain times that Europe is facing,” Jetten said.

The government is importing liquid gas (LNG) by ship. Gasunie will start using a new LNG terminal in Eemshaven in Groningen this month. The terminal can handle about 8 billion cubic meters of gas per year.

DJ Hydropower in NL is limited (we do not have much mountains here...) -most likely <1% of total energy in NL. 

[url]https://nltimes.nl/2022/09/08/dutch-economy-begin-contracting-end-year-rabobank-says[/url] or https://nltimes.nl/2022/09/08/dutch-economy-begin-contracting-end-year-rabobank-says ;

Inflation will trigger an economic contraction in the Netherlands by the end of this year, and it will push through into next year, economists at Rabobank expect. Rising prices of energy and groceries, among other things, mean that consumers have less to spend, NU.nl reports.

Because this year has seen strong economic growth so far, Rabobank expects 2022 to end with a plus of 4.7 percent. Next year will start with a contraction but turn to a slight recovery. So the economists forecast 0.2 percent economic growth for 2023.


The decline in purchasing power is the main culprit for the sharply declining economic growth. Inflation will amount to 11.4 percent this year and 4.9 percent next year, the Rabobank economists expect. Most wages will increase less than that, resulting in consumers having less to spend.

DJ...but lots of uncertainty...NL may do (much) better then most of the EU, UK (and maybe even the US) but NL needs international trade & transports...

-[url]https://www.zerohedge.com/markets/ecb-hikes-75bps-expects-raise-rates-further-dampen-demand[/url] or https://www.zerohedge.com/markets/ecb-hikes-75bps-expects-raise-rates-further-dampen-demand ; And since today's hike is paltry when compared to Europe's runaway inflation which is almost in the double digits, the central bank said - not once but twice - that it expects over the next several meetings to raise interest rates further "because inflation remains far too high and is likely to stay above target for an extended period" and "to dampen demand and guard against the risk of a persistent upward shift in inflation expectations."

DJ....mmmmm....[url]https://halturnerradioshow.com/index.php/en/news-page/world/european-central-bank-raises-interest-in-biggest-rate-hike-ever[/url] or https://halturnerradioshow.com/index.php/en/news-page/world/european-central-bank-raises-interest-in-biggest-rate-hike-ever ;

Prices are rising out of control in Europe due to energy hyperinflation, which the central bank has zero control over.

Usually, central banks raise interest rates to halt inflation.  By raising interest rates, consumers have to pay more interest on their personal debts, so they cut spending, and that reduces inflation.

But now, it is government, and NOT consumers, who hold the most debt.  And government will continue spending no matter the price of their debt.

Consumers have already cut their debt load after several years of COVID madness, and so the effort of the central bank will be meaningless.

Energy costs will continue to rise because Europe has imposed economic sanctions upon Russia, and as a result, Europe must go to other world markets to buy natural gas and oil.  Those other markets are already supplying much of the rest of the world, so in order for Europe to get any energy, they must pay more.

Interest rate increases cannot affect that need for energy or the price of the energy.

As this trend continues, the EURO currency will lose more and more of its value.

Europe appears to be headed directly into a hyperinflationary collapse.  They have brought this upon themselves by cutting off their own energy supplies!

in short; higher interest rates only worsen the situation....And the €/Euro means countries doing relatively OK will have to help/pay for countries sinking deeper into crises...

-DJ, The European energy/economy story is complicated-but I think the claim we can not do with Russian energy -on the long run-is incorrect. 

Still [url]https://www.zerohedge.com/commodities/europe-buying-all-russian-oil-it-can-banning-it[/url] or https://www.zerohedge.com/commodities/europe-buying-all-russian-oil-it-can-banning-it WE are paying Russia's war effort....

We cannot solve our problems with the same thinking we used when we created them.
~Albert Einstein
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Dutch Josh View Drop Down
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Joined: May 01 2013
Location: Arnhem-Netherla
Status: Offline
Points: 76242
Post Options Post Options   Thanks (0) Thanks(0)   Quote Dutch Josh Quote  Post ReplyReply Direct Link To This Post Posted: September 10 2022 at 5:38am

[url]https://www.ipkw.nl/nieuws/rift-en-partners-brengen-iron-fuel-technology-een-stap-dichter-naar-de-markt/[/url] or https://www.ipkw.nl/nieuws/rift-en-partners-brengen-iron-fuel-technology-een-stap-dichter-naar-de-markt/Renewable Iron Fuel Technology

[url]https://www.ironfueltechnology.com/technology/[/url] or https://www.ironfueltechnology.com/technology/ DJ-If I get it correct the basic idea is to use "old iron" as fuel...

DJ-Higher energy prices may give new ideas a better chance...

[url]https://www.zerohedge.com/geopolitical/escobar-germanys-energy-suicide-autopsy[/url] or https://www.zerohedge.com/geopolitical/escobar-germanys-energy-suicide-autopsy ;

Beware of the toxic trio

Engdahl has summarized how, “by systematically sanctioning or closing gas deliveries from long-term, low cost pipelines to the EU, gas speculators via the Dutch TTP have been able to use every hiccup or energy shock in the world, whether a record drought in China or the conflict in Ukraine, to export restrictions in the USA, to bid the EU wholesale gas prices through all bounds.”

Translation: casino capitalism at its finest.

And it gets worse, when it comes to electricity. There is a so-called EU Electricity Market Reform in progress. According to it, producers of electricity – from solar or wind – automatically receive “the same price for their ‘renewable’ electricity they sell to the power companies for the grid as the highest cost, i.e. natural gas.” No wonder the cost of electricity in Germany for 2022 increased by 860% – and rising.

Baerbock incessantly parrots that German energy independence cannot be secured until the country is “liberated from fossil fuels.”

According to Green fanaticism, to build the Green Agenda it’s imperative to completely eliminate gas, oil and nuclear power, which happen to be the only reliable energy sources as it stands.

And it’s here that we see the toxic trio Habeck/Baerbock/von der Leyen ready for their close up. They pose as saviors of Europe preaching that the only way out is to invest fortunes in – unreliable – wind and solar power: the “answer” from Providence to a gas price debacle manufactured by none other than Big Finance, Green fanaticism and Eurocrat “leadership”.

Now tell that to struggling pan-European households whose bills will surge to a whopping, collective $2 trillion as General Winter knocks on the door.

DJ...only profits matter....

We cannot solve our problems with the same thinking we used when we created them.
~Albert Einstein
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