Energy inflation continues to pummel all western nations as they chase the climate change agenda. Today, the European Central Bank has raised interest rates to support the goal of lowered economic activity.   Lowering economic activity lowers energy use.

Absent of any desire to raise energy supply and/or energy production, monetary policy can support the goal of lowering energy use by driving down all economic activity.

In the big transition picture, the economies within the western alliance must be reduced until they match the energy output of windmills and solar farms.

FRANKFURT—The European Central Bank raised interest rates by the largest amount since the early days of Europe’s currency union, moving aggressively to combat record inflation even as an energy crisis puts Europe on the brink of recession.

The bank said in a statement that it would increase its key rate to 0.75% from zero—its second hike this year following a 50-basis-point rise in July—and signaled that further rises were likely over the coming months.

(more…)

According to the U.S. Energy Information Association (IEA), U.S. storage of Liquified Natural Gas (LNG) is 12% below the five-year average (LINK).  Additionally, the IEA is expecting the U.S. to export 11.7 billion cubic feet of LNG per day during the fourth quarter of 2022 — up 17% from the third quarter. The destination of that export is Europe.

Consider that 43% of U.S. households use LNG for home heating, and power suppliers use LNG to create electricity.  With the massive 2022 exports of LNG to Europe (+17% in fourth quarter alone), that means lower domestic supplies and increased prices here in the United States for electricity and home heating.  We are seeing and feeling these massive price increases right now. As a result, consider this reality….

Not only are U.S. taxpayers directly paying for the majority of costs in Ukraine, but we are also subsidizing the European Union by exporting LNG and driving up the price here at home.

We are directly paying Ukraine, and indirectly paying Europe to maintain gas sanctions against Russia.  This is the reality of the current situation as created by the Biden administration.

Now, consider this.  The President of the European Commission, Ursula von der Leyen held a press conference in Brussels today, announcing five initiatives to contain the expensive EU energy crisis: “The goal is clear. We must cut the revenues of Russia that Putin uses to finance this atrocious war against Ukraine. And now our work is paying off. At the start of the war, gas from Russian pipelines accounted for 40% of all imported gas. Today it has dropped to only 9% of our gas imports. These are tough times. But I am convinced that Europeans have the economic strength, the political will and the unity to maintain the upper hand,” she said.  The United States and Norway are the primary suppliers of gas to the EU to fill the void.

Commissar von der Leyden’s five initiatives include:

(more…)

German Minister of Economics Robert Habeck is under fire after his comments during an interview with an ARD broadcaster on Tuesday evening.

The conversation surrounded the astronomical rise in the price of energy taking all the income away from people who would purchase other goods and services. As Germans no longer can afford purchases, the stores and businesses can no longer operate.  Minister Habeck was asked if that means a wave of bankruptcies and business closures are forecast.

Mr. Habeck responded that businesses can stop operating, but that doesn’t mean they will go insolvent.  Just because the business loses most or all of their revenue, doesn’t mean they will go bankrupt.  That doesn’t make sense, Minister Habeck was pressed to apply commonsense. If businesses close to save money, workers are not employed. If workers are not employed people do not earn income.  If people do not earn income, the economy worsens.

Habeck had no response other than an economically detached “Green Party” perspective that businesses will not go bankrupt just because they are not operating. However, his facial expressions reflect that he knows what comes next, total economic collapse. WATCH: 

https://youtu.be/x8bGPxZfIdQ

(Reuters) – German Economy Minister Robert Habeck faced a backlash on Wednesday for saying he could imagine parts of the economy stopping production due to rising energy prices that German firms say are threatening their existence.

Asked whether he expected a wave of insolvencies at the end of this winter due to companies’ rising energy bills, Habeck said “No, I don’t. I can imagine that certain industries will simply stop producing for the time being.”

(more…)

Comrade Citizens, it is important we stop thinking wrong thoughts about increasing the supply of abundant, natural energy resources as a tool to offset the sustainability of human life which might include selfish pursuits of happiness.  Correct thinking citizens view themselves as parasites upon our great planet, especially in California.

To affirm equity needs of our collective society as the electricity resource becomes increasingly scarce, California Governor Gavin Newsom reminds everyone to change their habit for electricity use and embrace the new era of scarcity.  Habits must be changed comrade citizens if we are to collectively work toward our communal energy goals and climate change aspirations.

As dear leader clearly expresses in his plea for voluntary compliance, we can get through this transition and embrace the new scarcity mindset if we just accept our responsibility to the collective need of a better society, a place where the rules will always be in our interests.  WATCH:

.

Yes, we can comrades.  Yes, we can.

(more…)

What is predicted to happen in Europe is just stunning, literally stunning.

♦Context – According to official data from the World Bank, the combined Gross Domestic Product (GDP) of the European Union was just over $17 trillion US dollars in 2021. That is the last calculated measure.  The combined GDP value of European Union represents roughly 12.78 percent of the world economy.

According to analysts for Goldman Sachs, the current energy crisis in Europe has increased electricity prices at a rate that is increasing almost daily.  Within the data it is now estimated that households within the EU will pay an additional $2 trillion for electricity in the next year.

Put that $2 trillion into context with their GDP, and that scale of energy cost would be wiping out 12% of the purchasing strength within the total EU economy.  Forget about buying anything else, if this analysis is correct Europeans will be buying food and energy, nothing else.

If you consider what that means, it is bordering on full economic collapse of western Europe.

What is being described above is what we posited when we outlined the impact of the “Energy Economy” {Go Deep}.  When you suck 12% of the purchasing power out of an economic engine simply to maintain the status of current energy use, everything else starts to collapse.

Also keep in mind we are only talking about the direct impact of $2 trillion in electricity cost.  The downstream consequence is far greater because everything created, produced, or manufactured, including food, is dependent on electricity – which will drive the final cost to produce of all those products even higher.

The damage is almost unimaginable in scale.

(more…)

Well, it looks like it’s official now. After several days of sporadic reporting on Russia’s decision to shut down the Nord Stream 1 natural gas pipeline into western Europe, it looks like the valves have been shut down until EU sanctions against Russia are removed.

Strategically the Nord Stream 1 pipeline is the major gas supply route into Germany, Europe’s largest economy. As noted by Reuters, “European gas prices, as measured by the benchmark Dutch TTF October gas contract, rose by as much as 30% on Sept. 5, amid growing fears of a total shutdown of Russian pipeline imports ahead of the European winter.”

Europe was already going into a deep economic recession due to inflation created by pre-existing green energy policy.  The Nord Stream shutdown will make things exponentially worse as energy prices skyrocket.  The Russian owned energy company Gasprom sent out a video that can be best described as psychological warfare.  WATCH:

https://youtu.be/n2b_0gfV_4E

.

(more…)

Yes, it’s like something out of a dystopian ‘hunger games’ movie, except it is unfortunately real life.  ITV News in Great Britain is running a wheel-of-fortune type marketing campaign where desperate viewers can call in for an opportunity to spin the wheel and win having their energy bills paid.

Comrades, it is not a spoof, this actually took place today and it looks like it will continue due to popular demand.  UK citizens are facing astronomical increases in energy bills as a result of the EU green climate change agenda in combination with Russia halting the export of natural gas.  The price of natural gas increased 30% today alone as Russia cuts off supplies completely.  Europe is on the brink of the worst economic recession in history.

ITV steps in with a promotional effort that shows just how bizarre this Build Back Better future has become.  Perhaps next week viewers might be able to call in for a chance at winning extra food rations, chocolates or even gasoline.  Here’s a video to show what is happening.  WATCH:

https://youtu.be/rC7O8LISY48

.

Good luck comrade citizens, you too could be a winner on the wheel of survival.  It’s all in good fun comrade. Smiles everyone, smiles.

(more…)

During his weekly monologue, a refreshing blast of commonsense amid a world gone mad, GBNews host Neil Oliver pushes back against the ridiculous ‘green’ propaganda that people are parasites on the planet.

Generations of children have been taught their existence is destroying the world, and the growing population is the source of environmental damage.  Yet none of that is true.  Greta Thunberg, the weird Swedish kid who tells all the adults around her what to do – and they listen, is the textbook example of a child scared out of her wits by anti-human propaganda, who grows up to become a cult leader.  WATCH:

[Transcript] – It’s time to stand up for humanity. Underlying so much of what is wrong in the West now, is a pernicious, baleful belief that there are too many people in the world – that people are the problem.

Generations have grown among us that have been taught – actually taught to believe – that our species is some sort of plague upon the Earth, a planet-wide cancer, if you will – that human beings only destroy, only do harm, only contribute one by one and billion by billion to the end of the world.

There are uncounted millions of children out there right now who are growing up unhappy and terrified of the future – all because relentless anti-human propaganda dressed up as Green politics and policies – the activities of outfits like Extinction Rebellion and many others besides – have made them feel guilty just for being here and alive.

(more…)

Joe Biden has hired John Podesta to be the new Clean Energy Czar [Announcement Here] citing his experience in progressive causes.  Hilariously, the New York Times is running with a justification that Podesta holds some prior experience in advancing the climate change agenda. [See Here]

(NYT) […] In bringing on Mr. Podesta, Mr. Biden continues to surround himself with veterans of past Democratic administrations, old hands who can step into challenging positions without on-the-job training.

“His deep roots in climate and clean energy policy and his experience at senior levels of government mean we can truly hit the ground running,” Mr. Biden said of Mr. Podesta in a statement. (more)

If Podesta is the new Clean Energy Czar, it begs the question of what the heck John Kerry is doing now?  I digress.

You might remember that Steven Chu was the Obama Climate Change Czar for the first clean energy boondoggle that came as an outcome of the American Recovery and Reinvestment Act (ARRA), those shovel ready jobs that didn’t materialize and carried the Solyndra spending nonsense.

John Podesta had nothing to do with the Obama-era clean energy initiatives or energy spending programs. Podesta was inserted into Obama’s orbit in the second term (2013) specifically to watch out for Hillary Clinton’s interests when she left to run for President.   Podesta later joined her in 2015 and took over the strategy team.

Bottom line, John Podesta is being now being hired to divvy up the $316 billion in Green New Deal money recently authorized by congress.  That is what Podesta specializes in, the distribution of taxpayer money to DNC allied groups and networks in advance of the 2022 midterms.   Podesta, Hillary’s fixer, is a bagman, nothing more.

(more…)

Comrades, a heatwave hit the Colorado region Tuesday with temperatures exceeding 90 degrees.

Indoor temperatures began climbing, and when formerly free-range residents attempted to adjust their air conditioning, they discovered they were locked out from control in their own home as the power company took over.

(Denver ABC7) – […] when thousands of Xcel customers in Colorado tried adjusting their thermostats Tuesday, they learned they had no control over the temperatures in their own homes.

[…] “I mean, it was 90 out, and it was right during the peak period,” Talarico said. “It was hot.”  That’s when he saw a message on the thermostat stating the temperature was locked due to an “energy emergency.”

[…] Xcel confirmed to Contact Denver7 that 22,000 customers who had signed up for the Colorado AC Rewards program were locked out of their smart thermostats for hours on Tuesday.  (read more)

Comrade Citizens, it is important that we support the needs of the energy collective.  All good thinking citizens put the needs of the state ahead of their selfish desires.

As the national energy emergency now begins to unfold, the officials in charge of energy resource equity remind everyone how critical it is to remain compliant with all ministerial energy objectives.  Compliance is expected from all correct thinking citizens.

As long as you remain compliant, there is no reason for concern.  Do not attempt to adjust your household allocation of energy.  Energy advisors will be made available for enhanced personal education to explain the benefits of our Green New Deal.  Your cooperation is appreciated Comrades.  Please report any non-compliant energy consumers to your local energy enforcement agency.

(more…)