Worse by the day!

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Worse by the day!

The outlook for Europe (and Britain) gets worse by the day.

The largest fertiliser plant in the world, based in Norway, just shut, with the insane cost of energy closing down not just its contribution to future food supply, but also one of the continent's main suppliers of urea - vital for making the Diesel Exhaust Fluid additive without which delivery lorries cannot operate.

The bankruptcy of Germany's largest manufacturer of toilet paper over the weekend has a primarily symbolic important, unlike the mothballing of   German steelmaker ArcelorMittal, one of the largest steel production facilities in Europe, which yesterday shuttered operations due to high energy prices.

“With gas and electricity prices increasing tenfold within just a few months, we are no longer competitive in a market that is 25% supplied by imports,” said CEO Reiner Blaschek.

This comes after announced closures of aluminum smelters, copper smelters and ammonia production plants over the last few weeks. Ammonia — necessary for fertilizer and Diesel Exhaust Fluid — is now 70% offline in the EU.

Adding to the misery, in just the last 24 hours, Russia announced a complete ban on natural gas exports to Europe until the West’s economic sanctions are lifted. This means the Nord Stream 1 pipeline is now shuttered for the foreseeable future, since delusional NATO countries are incapable of correcting their errors and backing down from Russia.

With steel and other industrial metals also offline, one wonders how Western Europe is supposed to function over the next six months of winter:

No steel = No industry (or industry jobs)

No fertilizer = No food

No DEF = No deliveries

No natural gas = No electricity or heat

In essence, four of the pillars that allow a modern society to function are being severely crippled by economic sanctions and sky-high energy prices across Europe.

And it’s only the first week of September. The cold weather hasn’t even arrived yet. No matter how much natural gas is already stored for the winter, Europeans are facing both sky-high costs and scarcity on a level that hasn’t been experienced since World War II.

There simply isn’t enough energy available to power European cities and heat all the buildings this winter, and there’s not enough food in the pipeline to feed everyone in 2023, either.

"Interesting times"!

 


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