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Breaking Market News @financialjuice

EUROZONE FINANCE MINISTERS TO SAY GOVERNMENTS CANNOT FULLY SHIELD ECONOMIES FROM ENERGY PRICE SPIKE - DRAFT STATEMENT.


Wind farms are costing taxpayers almost £1 billion due to lack of instant demand and a lack of methods to store energy, with this predicted to grow to an eye-watering £2.3 billion by 2026.
https://t.co/lrJvEXgTWL

Reminder that there have been at least 3 spikes in Nat Gas prices since 2000 just as bad as this one but back then we had nuclear, coal and oil power plants to cover.

Without them the sham of renewables as a replacement is exposed.

Vice-Chancellor and Minister for Economic Affairs and Climate Protection of Germany Robert Habek states — "Some countries, including friendly ones, are seeking astronomical prices [for gas for Germany]."
Khakassia-Inform

More comedy from the EU and US, this time on installing a price cap on Russian oil having failed with Russian gas.

They think they can get China and India onboard to cap prices instead of China and India buying Russian oil cheap and selling back to the EU for a huge profit like they do with gas.

Better off hoping their power plants will run on M+Ms excreted by unicorns.

Meanwhile Sweds today warned to expect power blackouts this winter.

FT: Saudi Arabia and Russia will announce a sharp reduction in oil production

Saudi Arabia and Russia are going to announce a sharp reduction in oil production at the next OPEC+ meeting, the Financial Times writes.
Vedomosti
As the Financial Times (FT) newspaper found out, Russia and Saudi Arabia insist on reducing production by 1-2 million barrels per day or more.
News.ru
Sources note that the event will be attended by Russian Deputy Prime Minister Alexander Novak, who is expected to support a significant reduction in production, "since Russian oil is already being sold at a big discount."
Vedomosti
By the way, in early September of this year, the Organization of oil Exporters OPEC+ decided to reduce the production of black gold by 100 thousand barrels per day.
Komsomolskaya Pravda

OPEC decided to reduce production of oil by 2 Million barrels a day or bout 5% of their output.
This is what demented Joe had to say after visiting the Saudis:
" We had a good, we had a gu gu good discussion on ensuring global energy security and adequate oil supplies to support global economic growth. And that will begin shortly"...... ...Yeah, sure we can see that!

The US/EU decided yet on another sanction package against Russia (the first seven were incredibly successful). Suffering from pathological Russophobia, they ignore that this does not go unnoticed by the BRIC countries + Saudi Arabia and secondly they shot themselves in the foot (well, our foot) again. Thus their economic suicide mission continues.

RplusT wrote: Thu Oct 06, 2022 1:45 pm

The US/EU decided yet on another sanction package against Russia (the first seven were incredibly successful). Suffering from pathological Russophobia, they ignore that this does not go unnoticed by the BRIC countries + Saudi Arabia and secondly they shot themselves in the foot (well, our foot) again. Thus their economic suicide mission continues.

yes, it's amazing how much more effect price setting is when done by producers rather than consumers

And many carried the story of those lying ******* at Reuters being put in their place for once, about time too.

Europe's hypocrisy on fossil fuels. Global warming is not an issue. They change the rules as they see fit while telling the rest of the world to switch to renewable energy and meet the goals of CO2 emissions.

“The US and its Western allies need to pay attention. For the first time in recent energy history, Washington, London, Paris and Berlin don’t have a single ally inside the OPEC+ group.”

The Saudi-Russian Oil Axis Snubs Biden With Production Cuts

https://www.bloomberg.com/opinion/artic ... ction-cuts


(oh, seems that 'the new world order' of the EU and US elites doesn't actually include anyone else?)

Breaking Market News @financialjuice
23m
GERMAN ENERGY REGULATOR CHIEF: WE WILL STRUGGLE TO AVOID A GAS EMERGENCY THIS WINTER WITHOUT AT LEAST 20% SAVINGS IN PRIVATE HOUSEHOLDS, BUSINESSES AND INDUSTRY.