LSU-SIU
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EU Ministers Call For 10% Cut In Energy Consumption
I think they will have supply for this winter but its suspect to say the least going forward without some type of plan. Even if they avoid short-term shortages by overpaying 5-10x, this doesn't help the medium to long-term shortages they are going to have. Modern civilization runs off of cheap credit and cheap energy supply.
What's the plan? Where are they getting future supply? We're talking 5,10,20, 30 year projects.
A meeting of EU energy ministers on Friday has suggested that each EU country implement strategies to reduce overall electricity consumption by a minimum of 10 percent, the Wall Street Journal has reported.
The EU should also reduce electricity by at least 5% during peak price hours, according to a draft document seen by the WSJ.
The EU asked its members earlier this summer to reduce gas consumption by 15% starting this fall and running through the winter.
I think they will have supply for this winter but its suspect to say the least going forward without some type of plan. Even if they avoid short-term shortages by overpaying 5-10x, this doesn't help the medium to long-term shortages they are going to have. Modern civilization runs off of cheap credit and cheap energy supply.
What's the plan? Where are they getting future supply? We're talking 5,10,20, 30 year projects.
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