Bad things that happen in Europe often end up of in the US of A.
Headlines read Around 700,000 households in Ireland (that would be 40 per cent) are now in energy poverty as a result of the ongoing European Union gas crisis. I think that's a fancy way of saying these homes are going to be cold this winter. (1)
To add insult to injury, it turns out the implementation of carbon taxes have dramatically worsened the situation.
As we are seeing with so many recent crisis, this one is largely man made in nature as the Irish government had the opportunity to slash energy taxes but failed to act. One report says the Irish went green, hiking the carbon climate tax by one hundred fifty percent! (2)
Similar idiocy plays out in California, where we all shovel out huge taxes per gallon of gas. During the last few years there were several key opportunities where having Sacramento suspend the gas tax would have helped a lot of people.
But getting back to Ireland, their government appears to be prioritizing its green agenda policies over helping those in need, with the country’s green minister outright banning the sale of three traditional sources of fuel — namely wet wood, smoky coal, and turf — that ban went into affect two months ago.
Woke Idiocy has also set up Britain for failure, as they have scrambled to get their strategic reserve turned back on, and they are only at 20 percent, which is only 9 days worth of gas storage for the country. (3)
Wars are messy, and it looks like some vital underwater energy lines are being cut. as Swedish investigators found traces of explosives at the Baltic Sea site where two natural pipelines were damaged in an act of “gross sabotage,” (4) Danish authorities confirmed similar damage to their lines as well (5)
Germany had a method for getting control of energy prices and supply that should have gotten more attention. In September they decided to nationalize the largest gas importer. In todays world of free markets and information, there is never a good reason for nationalizing a business. The government will screw it up.
It was a bit comical to see that China stocked up on Russian natural gas, and it appears they are now selling it to several European countries who have boycotted Russian fuel. I guess they are hoping their voters don't see through that one. (6)
Brandon said we might be in for a dark winter, but for the European nations, it looks like it will be a dark and cold one.
While we await the ripple effect of these energy catastrophes that are playing out in the next few weeks, it is impossible to imagine that we will stay totally warm, dry and unaffected on our side of the pond.
Be sure to stock up on everything you need this winter.