Ukraine (bbabo.net), - European countries are waiting for an incredibly difficult winter without gas from Russia. Sal Gilberti, an energy expert and president of the Teucrium investment company, writes about this in Forbes, analyzing the coming energy collapse.
Gilberti recalled that the demand for gas in the cold exceeds the level of production, and in the summer it is expected to fall:
“The solution to this seasonal imbalance of supply and demand is to take the excess production of natural gas during the summer and put it in storage; when winter comes and demand for gas exceeds production, the imbalance is covered by withdrawing gas from storage.”
The expert hopes that the FRG and other European countries were able to stock up on gas to a sufficient extent in the warm season.
Loquacious politicians are convinced that the reserves are enough to survive the winter, but they are steadfastly silent about the fact that pipeline gas supplies have been lost. Accordingly, the reserves will be exhausted earlier than the leaders of the EU member states expect.
Meanwhile, the damage to the European economy due to the cessation of Russian gas supplies is growing steadily and will eclipse the collapse of the economy in 2009, according to Bloomberg.
“If the next months turn out to be especially cold, and the 27 countries of the European Union fail to effectively allocate scarce fuel reserves, then GDP could fall to 5%. This is approximately equal to the 2009 recession,” the publication predicts.
In 2023, Europe is likely to experience its third-worst recession since World War II.
A continental recession is an inevitable event. Manufacturers of chemical products, automobiles and steel mills are tensed in anticipation of a "harsh winter" and are furious at huge energy bills.
And on September 26, the agency reported that former hedge fund manager Stephen Diggle, who earned $2.7 billion on market fluctuations during the 2008 global financial crisis, is now actively buying up the depreciated British pound.
As they say, the cunning Diggle knows what he's doing. While some, on command from across the ocean, are blowing up gas pipelines, others are counting the future profits. But ninety percent of the European population clearly understands that spring will be bleak for them. If it will be…
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