Wednesday, September 28, 2022

Nordstream's Burning Ships


If there was any concern that Russia might turn Germany as winter sets in cold and expensive, you can put that concern to the side;
European leaders said Tuesday they believed dual explosions that damaged pipelines built to carry Russian natural gas to Europe were deliberate, and some officials blamed the Kremlin, suggesting the blasts were intended as a threat to the continent.

The damage did not have an immediate impact on Europe’s energy supplies. Russia cut off flows earlier this month, and European countries had scrambled to build up stockpiles and secure alternative energy sources before that.

With both Nordstream 1 and 2 now offline due to - well - "things," Russian gas is no longer an option for Germany in the short term. 

Who did this, why, and what are the implications? Well - I don't want this to be Emma Ashford week - but her thread here is pretty good;

What this means is high energy prices for Germany, significant headwinds for her manufacturing and export markets, and lowered living standards for the German people and others who ride in her wake.

The German people will have to do those things smart people have been telling them to do for a couple of decades - nuclear, coal, LNG - things their political class thought was "old think" by people who were of a lower class than they.

Arrogance, again, has a price.

This should not be a shock. This is a perfect storm resulting from decisions of her political class who painted their nation in to a corner for the sake of Green fever dreams, WEF/ESG sourced corruption, and general arrogance of a leadership class more interested in their in-group positioning than serving the needs of their people.

Will there be any accountability? I hope so. Maybe, maybe ... hopefully ostpolitik will be dead for another generation ... but it will be back. Money has its own gravity field.

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