Why Europe's energy crisis is worsening as prices soar
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- Опубликовано: 16 сен 2024
- Europe's natural gas prices are surging as the region faces short supply and limited renewable energy to fill the gap. CNBC's Brian Sullivan reports. For access to live and exclusive video from CNBC subscribe to CNBC PRO: cnb.cx/2NGeIvi
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If we release the oil reserves that’d be horrible. That’d be such a poor decision. That would cause the US to be exposed to the same exact problems happening globally.
We USED to be energy independent. But the democrats killed that to spite the last administration.
@@maxwellsmart6274 Do you not understand they're eliminating oil? This is ecoterror on a global scale.
Why would they? The amount of cars driving on the roads pretty much stays exact same every day of the year, every year. Year after year. But not the price of gas or oil. How do you explain natural gas? Did the earth pop a hole and a bunch of natural gas escaped into space? C'mon, people are going back to work so lets raise the prices and grab all their money. have no choice. It's like selling to addicts. Quadruple the price of nicotine and people keep getting out their money .They'll pay it. Greed. Essential commodities like oil and natural gas should be price fixed. Would you let someone just double the price of loaf of bread? They'd blame it on gas. I don't know why people put up with this and no signs.
@@tuckerbugeater Who told you that? Electric cars still do more damage than they save. People want them because they are fast.
Good to have that buffer but it's no longer near as necessary bc we are energy independent today, this is not nor ever will be again--when OPEC had us over a barrel.
Is US really contemplating banning oil exports to Europe? And we're being told that we're putting ourselves at risk by depending on Russia for our energy...strange logic
We love bending over to the US, let us be.
You dare question us Yankees? Never stop.
The end game is to eliminate oil. That's the logic.
I guess being US vassal wasn’t meant to be a happily ever after
The best thing Washington can do is NOTHING as a rule of thumb. Every time they monkey with markets all sorts of predictable "unintended" consequences occur.
Wind power fell from 30% to 7%
Almost like climate is not reliable
Nuclear energy is the only reliable and emission free source.
Not without sufficient battery storage
@@redwhite_040 we gotta go nuclear. generation IV
Hah! Someone missed the entire point😂 if we had an elctric grid based on renewable energy we wouldn’t have a problem🤷🏽♂️ since there would be no demand for oil or gas
@@kingofrivia1248 you're the one who didn't understand, renewable energy need more than 3 decades to be used to all europe country, that is still long way to do, if renewable energy is already a solution that can be implied and used it directly, there won't be such an energy crisis, reality is, that's not a short solution that people can use it and we saw it now many europe needs "natural gas" as their energy source, but not many countries has that, even GIANT RUSSIA need it for themself first because they want to recovery their economy after pandemic. good luck with rely on renewable energy that needs more than 3 decades to be able to use, wish you luck on your next winter, don't die because of frostbite
People might like to build a fireplace before winter
Building a fireplace is too expensive but a woodstove might be an option.
@@don-cw1yz It's still expensive when everyone has the same idea and your neighborhood is choked in thick wood smoke.
@@ph11p3540 Then the governments should lower the taxes they put on fossil fuels. The actual price of the fuel is not the big issue ,it is the add on of multiple taxes that are added onto the price of fossil fuels that is the problem. In many cases as the commodity price rises then the taxes also automatically rise. People need to heat their homes, light their homes etc., commute to work . Governments that constantly increase those taxes should be voted out in favor of governments that are willing to remove some of those taxes.
@@ph11p3540 ..... "thick wood smoke" you mean like a whole city doing it? yes that would cause thick wood smoke but 10 people doing it no.
Fireplace efficiency is
As soon as he started talking about everyday Brandon at gas pump, they cut him off lol 😂
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@@piaku3920 setuju om!!!
"Global energy crisis." I think when they say "energy" they mean fuel. Oh well, just add it to the ever growing list of crises - climate crisis, covid crisis, retirement crisis, homeless crisis, affordable housing crisis, etc. *yawn*
It's only in Europe, why global
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@@yohaneschristianp China and India are having coal shortages, which they depend upon heavily.
It’s called conditioning , eventually you can raise the prices whenever you cause you are not questioning why anymore. Like wood spikes for a while now it’s done. Moving on to other goods
Anti-Nuclear activists and Coal and Oil Lobbyist when they successfully closed Nuclear Power Plants: "Yeeeeeey! Big win for humanity"
The same people during energy crisis and when the OPEC and Russia increase their oil prices: *cricket noises*
U gotta love this Brian!!!
Makes me wanna play
"Electric avenue"
Eddy Grant
Shalom Viva Obama 100%
Where does the electricity come from?
Imagine thinking 5 bucks a gallon is much LULW
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Karma is real
LOL poor EU
Why, why, why? It is ridiculous to blame the price on Russia. The one which does it is a pimpkin-headed one!
Eltricity Prices in Germany aren’t 300Euro/MWatt. They are probably rising from 30 to 40 Euro
They are not lying. It is you two that are too dumb to understand spot prices and future contract prices…
@@yumiquynh No, he said that the consumer would spend four time as much as he spent before the covid crisis.
@@yumiquynh I‘m from Germany, u should trust me.
@@mariogotze8691 you have a great name.
@@mariogotze8691 Problem is not you Mario. Problem is of different nature. Business would should down because of the increase. They use massive amounts of energy and even small increases are problematic.
Green new deal in action
My energy bill hasn't encreased a cent since march. People outside the EU need to understand that Germany is 1 country in Europe, not the entire continent, not the entire EU. Germany screwed up big time about energy, first they were saying "nuclear is green, we are keeping the nuclear" then Fukushima's incident happened, they dismantled the nuclear plants and opened coal and gas power plants, then Merkel was bribed by Putin and she double down on gas dependency from Russia (Morocco and Tunisia are gas supply alternatives to Russia) then Merkel with Putin planned Nordstream 2 to increase the dependency of energy from Russia... The so called energy crisis in the EU is a German made crisis.
I thought it was the Chernobyl nuclear disaster in 1986 that made Germany idle their nuclear power plants. Now they just bring in nuclear power from France.
@@don-cw1yz in 2010 more than 20% of their electricity was still from nuclear.
Millions of Americans could face even higher energy bills this winter if the Biden administration closes a gas and oil pipeline running through Michigan, a group of Midwest lawmakers has warned.
Line 5 pipeline could be under threat due to the White House exploring the potential impact of closing it on fuel prices in the region, according to a recent Politico report, amid a drive to reduce the U.S.'s dependence on fossil fuels.
The line, which delivers Canadian crude oil and natural gas from Alberta to Ontario through Wisconsin, the Great Lakes and Michigan, has operated since 1953 and currently transports about 540,000 barrels per day.
The problem is Gazprom owns large parts of the storage systems in Europe and did not fill them up during the summer not sure why .....
They must have forgotten.
To rip off the customers with higher higher higher prices
Because they try to push for Nordstream 2 to be put in service on their term that are against regulation in EU. Those problems were not there until that cursed pipe was finished.
the main problem is Indonesia stop export Nickel to Europe because EU rejected Indonesian's palm oil. Not only Europe, Singapore also affected by the regulation. World energy crisis only affect to those country who mess up with Indonesia
Gazprom did not fill their storage system in Europe because *there was no order application* from the European authorities -_-
Merkel (German Chancellor) : _“Russia has thus far honored all gas purchase orders from Europe; indeed, _*_there are no gas purchase orders that Russia has turned down._*_ Russia can only deliver gas on the basis of binding contracts, and not ‘just like that.’ The question therefore arises: _*_Has enough gas been ordered?_*_ Or is the high price a reason for not ordering much. We have become accustomed to very low gas prices”_
Borrell (EU Foreign Policy Chief) : _“Russia has honored all its contracts. _*_It cannot be said that they are not delivering when they said they would,_*_ but it has not increased the quantities”_
*BLAME* those in Europe who are in charge of gas orders to Gazprom
it's will be a cold winter...
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We need to quickly dispatch John Kerry there, and pray he can travel as green and clean as he comfortably can.
Got Silver. Best monetary hedge against inflation.
Yurop loves encouraging electricity consumption, but producing it is usually illegal
Just like Cali!
Because they signed the nord 2..."
That's what happens when you compete with opec.
And a continent that doesn't have gas resources
Asian countries were outbidding Europe for petroleum. Europe’s option was the USA and Russia. After Trump, Biden cut natural gas production in the USA which meant that Europe could only depend on a single supplier. Russia is supplying gas based on its previous contract. The problem is that current demand exceeds the previous contract. Now Russia says it will supply more, but Europe must allow the Nordstream 2 pipeline to come up.
Cost of going green
Sweater sales should up dramatically this winter!!!
I dont understand how its Russias fault. If you dont want to buy Russias gas. You dont buy their gas and have to buy elsewhere... Whats the problem?!?
Where? It is the problem. Nobody else has connected gas pipes to EU to sell gas to them. Everyone is running out of storage.
That is my understanding
Where else would the EU and UK get the volume of natural gas they need? One possibility is Canada. But you need them to build pipelines and an LNG facility on their east coast. Get them to build a oil pipeline too as Canada has the third largest oil reserves in the world. The terminal facilities are already there in Saint John New Brunswick that can handle supertankers.
@@don-cw1yz Biden doesn't like pipelines unless they are putins.
@@domicioneto88 There is a pipeline from Russia all the way to Germany, its finnished but not in use. Diplomatic shizzle.
@@53strat55 the problem is when he is saying to buy the gas from another country that is not Russia. Buying from Germany doesn't change the issue as it comes from Russia as you said pretty well.
Meanwhile in France using nuclear power are like what energy crisis? 😳
Incorrect title.
Europe's prices soar as energy crisis is worsening. Not the other way around.
So everyone is ignoring the one country in Europe where energy price hasn't gone up, France.
Shh... shh... people figure out that nuclear can save us from the energy crisis and they might start to get ideas...
That man can probably hear a pin drop from 20 miles away!
I pump 35gal tank for my SUV Truck and it comes down to $170 @$4.95 regular. My truck range 550 miles total. I don’t know why you oil cartels need to adjust inflation. Price gas of Date November 2nd, 2021
Oregon is 4 bucks now
Hahahahaha. No warming but Europeans freezing. Winter is coming
Electric Eels water tank capacitor
RECORD PROFITS BEING MADE AT OUR EXPENSE
The increases should not have taken place so very quickly & definitively not so steeply (GREED).
Why isn't Congress sounding the alarm about the unnecessary, extreme price hikes (GREED)? Who are the Congress members, state legislators & governors that are invested in these industries, especially in the ENERGY sector? Some politicians or their family members are on the boards of these companies that are price gouging and making huge record profits because of it & of course they're not tell the public about it; they'll just keep raking in the high dividends at our expense. Media doesn't seem to want to communicate these facts either, WHY NOT?
Let's CONSISTENTLY talking about BIG BUSINESS (big essential retail) & ENERGY COMPANIES' record profits during times of massive economic struggles for the MAJORITY population, but their CEOs are making millions in bonuses. Let's pay attention to these corporations' quarterly PROFITS going back to before pandemic to the beginning of 2022 & then beginning of 2022, every quarter for at least the next year; let's keep their RECORD PROFITS in the forefront of the consumers minds.
Aliens will bring flux capacitor to solve earthly energy crisis?
Aw poor Europe.. I cri
Doesn't make sense. Cost of a barrell is 80$. Price should be much lower. Keep track of the cost of barrels of oil and it doesn't relate. When gas was 145/l the highest I remember, a barrell was 99$. Just watch the price change at 7am, 12 noon, and 4pm and you will see that Now were being told we're running out of natural gas this winter and it will cost much more to heat our homes. I just read that we are in an energy crisis now. Geeze. An opiate crisis, energy crisis, climate crisis, who's causing all the crisses?
To make the earth healthier, a transition strategy is needed. Indonesia has a strategic roadmap for the transition period from fossil energy to renewable energy that is always flirtatious. Indonesia offers energy to the world including palm oil, coal, LNG, LPG, renewable energy, oil and gas. In Europe, many wind turbines are overhauled, erratic weather problems and increasing energy needs after the COVID-19 pandemic. In Europe, there is business diversification towards renewable energy, which is only 14%, the rest is fossil energy, in contrast to America, whose business is still oil and gas by reducing carbonized emissions. To face the cold winter, Europe must quickly find energy from cheap coal that competes with China. The gas field in the North Sea, which supplies gas to the UK and Europe, is decreasing in production and the North Stream 2 gas pipeline from Russia is also having problems, so Europe also needs LNG. Europe is not planning the energy transition well.
Europe is in this problem because renewable energy production is far inferior in terms of efficiency. Fossil fuels are still superior in this regard. Bill Gates even commented on how he thinks the only solution is nuclear because renewable energy cannot replace the current energy consumption rate in the world and then some.
But ofc the mantra is green is good. repeat after me. Green is good.
You are so right about Europe not managing the transition. Too much magical thinking. It is not hard to see how much energy the continent is using, and from where. This was not done. Germany just decided to shut down its nucs. The Netherlands decided to decrease its natural gas production. No thought to replacing those energy sources.
Windmills Are Good
btw: Pipelines Are Vulnerable
Lol Rotterdam is not in Germany
Its fun after u see many EU people make fun for China energy crisis.
Hahaha karma. Just like COVID, made fun in feb 20, became the show in Mar 20.
What? Green isn't good?
It can be good, but you can't be stupid. Shutting down energy sources, and then later wondering why it is so cold, is not bright.
Supply vs demand? Especially on winter
Global economy last time I checked those prices are going to be here this winter
many Europeans are relying on importing Russian energy. Just like US used to depend on Persiuan Gulf oil. It is such a risk...
There's not much natural gas within Europe to cover the continent.
europe is done for. Soon we will see new era, the era of East asia and South East Asia
@@michaelkato8999 All those hundreds of years degrading nonwhites, colonizing their countries and discrimination are finally coming back to them. May they never recover from this and their 'empire' will go the way of Rome
gas is 8.5usd per gallon in Finland...
So if these people are talking about it, it must becoming to a end
At least
europe has clean energy
at a 10 X cost.
Bet they wish they could build an XL sized pipeline somewhere.
Solar is cheaper than fossil fuels over time. The start-up is more expensive though and limited storage capacity means you can't rely on it alone for now
europe OWNED themselves
@@adrianaadnan9958 I agree about coal but keep in mind electric cars in general get cleaner as the grid becomes more renewable and gas cars do not.
Bet they wish they had left those nuclear power stations running in Germany rather than switching to unreliable wind and solar….
Eurasia has more Oil than America can shake a stick at. Exporting Oil to Eurasia from America is a joke.
Love that quick nope
Becky is hot AF
bet she’d make a great dominatrix
Burn more coal to green the Earth and make my organic gardens flourish.
Putin asked Gazprom to continue pumping gas through Ukraine, although it is more profitable for Gazprom to pay money to Ukraine and increase pumping through new gas pipelines.
@fed up salty
@fed up "to death" lol. god youre brainwashed.
*BLAME* those in Europe who are in charge of gas orders to Gazprom -_-
Merkel (German Chancellor) : _“Russia has thus far honored all gas purchase orders from Europe; indeed, _*_there are no gas purchase orders that Russia has turned down._*_ Russia can only deliver gas on the basis of binding contracts, and not ‘just like that.’ The question therefore arises: _*_Has enough gas been ordered?_*_ Or is the high price a reason for not ordering much. We have become accustomed to very low gas prices”_
Borrell (EU Foreign Policy Chief) : _“Russia has honored all its contracts. _*_It cannot be said that they are not delivering when they said they would,_*_ but it has not increased the quantities”_
Russia can only deliver gas *if there is purchase orders* at the short-term spot price and delivery route (NS1 & Ukraine) that has been agreed in the contract, *NOT* with political statements and propaganda media scribbles
speeding up the operation of NS2 is another consideration, if Europe wants it, Russia only offers, *NOT* pushes
Will Congress vote to impeach Putin?
People used to say nuclear is not very economical due its high prices (solar and wind receive a ton of government subsidies, and natural gas was dirt cheap back then). From another perspective, I'm kind of glad that more and more people are realizing how good nuclear is due to this crisis: Nuclear doesn't need any fuel supply (or at least very infrequently) so it's much less susceptible to the volatile market price; It generates at peak power most of the time, so you don't need to worry about the inconsistency of solar or wind either. Let's just hope more nuclear power plants will pop up after this.
Agreed. Standard fission could save us from the energy crisis. Main problem with it is that it is objectively bloody expensive at the moment to set up a reactor.
What energy crisis? Here in Asean Nation the fuel is still US$0.80/liter. Europe uses emotions on economical decisions and thats a big mistake. Crisis of Their Own making… 👍
I think it’s high time for EU to become independent from USA and Russia.. You take the decision rather than following uncle SAM..🤣
Brian, If you're reading this, we need higher gas prices to incentivize conservation and hence, reduced greenhouse gas emissions. Higher energy prices in Europe is their carbon footprint is so much lower than Americans'. Gas prices should reflect the damage that GHG emissions from gas does to our climate. We need a carbon tax, starting at $50/ton. It would be the most powerful climate policy. Congress is considering a wimpy $15/ton charge but it's better than nothing. Please don't disparage the climate benefits that can arise from higher gas prices.
Carbon taxes do nothing to reduce fossil fuel use. They just increase the costs to consumers of energy and everything else they need to buy.
Biden’s aproval rating is only 4% points off from trumps lowest approval rating. 38% to 34%.
If gas becomes 4.50 or 5.00 a gal, you better believe he’s going to drop below 34%. That would be so embarrassing to drop below trump’s all time rating, in his first year in office.
fake polls - trump
Infrastructure will zoom Biden right up to the top. Idiot Trump had no agenda.
@@terrencekane8203 don’t mistake me. To be honest I don’t like either of them. I liked Yang.
But we’ll see. Doesn’t seem like shutting down the keystone pipeline, only to later beg the Saudis to open the taps a month later made any sense at all.
@@rabidlenny7221 Hello fellow Yang Gang. The keystone xl pipeline was only 8% complete when canceled and would not have completed till after 2021 so it would not have any effect today. I believe the oil deals with Saudi Arabia have more to do with securing the Petro-Dollar's dominance more than anything. The XL pipeline would not have given us energy independence because after all it was still coming from Canada.
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Liars.
It was used 2008 to light up Christmas tree in Japan I have it written some where have witnesses also 2003
Higher interest rates takes about 2 years to show if it’s working or not against inflation
Historically it does though.
Tesla : 👀👀👀👀 ummm, now what?
Let's see that $8 to $10 natural gas price here in the USA. Time to make some real money.
But that means Americans will also have to pay elevated natural gas prices.
LoL, you think those multinationals are sharing their increased profits with you?
Just a thought why not reduce the ridiculously high fuel taxes drastically in the EU ,problem solved.
Better use alternate energy ..nuclear,coal
@@uzbek_warrior2348 Nuclear, natural gas is clean energy. Coal is a pretty dirty fuel but you could have much cleaner coal electrical electrical generating plants with scrubbers and other clean coal technology. There is some promising carbon extraction technology that will remove CO2 and produce fuel that can be used in an ICE vehicle. Sure use solar and wind where it makes sense but you will also need on demand energy sources. If the wind does not blow and the sun does not shine those energy sources create problems with energy supply. But isn't 80% of the CO2 produced naturally? So you are bottom feeding to reduce the other 20%.
This news reporter talks like a vlogger
Higher interest rates make currency stronger and banks stocks go up
With the amount of debt governments in the world have now do you think they will be quick to increase interest rates? Banks are a cost plus business and make money on the spread b/w what they get money for vs lending it. Then there are bank fees.
Good thing we frack
प्राकृतिक संसाधनों का अत्यधिक दोहन सभी के लिए नुकसानदायक है किसी को दोष देने से कोई फायदा नहीं है ना कभी सरकार बताएंगे नाही कोई कंपनियां बताएगी कि प्रकृति की गोद में कितने प्राकृतिक संसाधन बचे हुए हैं
We need more reliable renewable energy like ocean wave harvesting and hydro-electics to supplement nuclear energy to get off this fossil fuel and natural gas dependency. If we are serious about curbing our current course towards a climate hellscape, then we need to plan and act on real long term solutions. Stop supporting fossil fuel as any possible "solution". We need home grown sustainable energy.
Wait till you see the price for wave harvesting , hydro, and new nuclear plants. Then all the eco groups won't want hydro ,or wave harvesting or nuclear. They will only want solar, wind and geothermal.
I think someone just hoarding all the energy.
Keeping all the oil and kerogens in the ground?
indonesian president said " the winter is coming "
We need a Brand New Independent agency.,(appointed by government) for one purpose. Oversee power and energy production levels.
More government huh?? Damm fool
You mean like a Department of Energy? Someone already beat you to the punch back in 1977.
If they are leading the way in managing U.S. Energy policies and production, one would expect there to be continuity in the energy policies from president to president. Instead an incoming president can rewrite energy policy, jeopardizing access and affordability of energy for the entire US population. Therefore I stand by my comment that regardless of why the department of energy may have initially been created, as of today they aren’t serving as an independent agency that oversees the policies and production of energy. Proof is why would all the energy policies have coincidently changed after this past election? Answer: dept of energy isn’t writing policy and overseeing production. They are simply a tool of the White House, and follow strict orders. This enables the respective subject matter to turn political versus serving the best interest of the American people
@@Menchman I am not familiar with the back and forth between energy producers, those who maintain the electrical grid and the DoE. I kind of get the sense that the president is more like the door to door salesman who looks pretty, and sells the health elixir that cures all ails whilst the energy companies most just ignores what he says and does their own thing. Thing is, I can't prove that what you suggest is or is not happening.
@@gilian2587 fair enough. I’ll provide support for my points. Company’s are driven by profits. Governmental Policies, have huge impacts on where investors place their dollars. The president signed an executive order not allowing new leases for oil company’s on federal land in the U.S. The natural response investors have as a result is to limit and slow the investment dollars going towards oil. This obviously will create bottlenecks and slow down production in the medium term. Additionally this policy creates a concern of future supply constraints, hence current prices have risen. It wasn’t as if Biden was sitting in the Oval Office and his secretary of energy came to him saying we must limit new leases for oil production or else we’re all gonna be destroyed. He had an agenda going into office and he put someone there who he feels will follow his orders….this is not a matter of him listening to experts.
It’s a matter of politics. I’m all about investing in clean energy, however it needs to be done equitably (a word so often used by the democratic party). It is unreasonable to enforce policies causing this kind of price increases on oil, as we all know this is equivalent to a tax hike on the lower and middle class.
Higher prices next year then this year
Yep just like Russia predicted.
Green is Dark
Peak oil
I just want to live
Damn, the electricity is ten times cheaper in Russia compared to Europe
Green power sources are expensive power ,plus they always require on demand energy as a backup.
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SCAM SCAM SCAM SCAM SCAM CORRUPTION GTFO
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Too much reliance on Rusxian gas and oil.
For some reason the planned LNG plant that would originate in Nova Scotia Canada was cancelled? Canada has a lot of natural gas.
Then buy from somewhere else. Oh wait...
@@gennadiym461 Or get those yellow jackets on again and demand a reduction in fuel taxes? The EU and UK are frankly nuts in the amount of taxes on fuel for vehicles.
EU does. With less available they’re grabbing as much as they can competing with China and others from their usual sources. Cascade effect on normal market so prices for all go up.
Looks like winter is coming
Invest in weed that's all you need
We need to do everything to make sure America wins!
Because they rely on outside forces to supply it, lol.
So do we. Thanks Biden.
@@maxwellsmart6274
Just Biden, huh? Nevermind the other presidents who also relied on oil from other countries for decades now. People like you are why I oppose citizens the right to vote. You can protest all you want, but no voting. I think protesting is a better way for politicians to hear the people's voice.
@@gabemendoza1052 big scary orange man had us energy independent.
Lol!!!
Shalom Viva Obama
Putin reduce natural gas supply to EU prices double or triple now
Another Cold Texas coming to Europe.
Dis a black thang, right?
Higher prices bigger nominal banknotes in market
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