Europe Energy Crisis

#Europeenergycrisis After debatable predictions let's discuss some hard facts like the energy crisis in Europe it's getting worse by the day electricity bills are soaring gas reserves are depleting and winter is coming as the mercury dips gas and oil consumption is going to pick up but europe does not have enough supplies so what is it doing to avert this crisis from snowballing cost cutting almost every european nation has set new power saving targets new limits on energy consumption take the case of greece it has told the public sector to turn off lights or face consequences what sort of consequences the withdrawal of government funding to energy firms listen to this reduce the air conditioning maintain the heaters remember to turn off the lights so we are not wasting energy the lights on government buildings do not still be on at midnight we are asking basic things in france the government is taking similar steps every day as the evening descends the lights are dimmed the monuments go dark the fountains stop running french cities bear a desert spectacle the scale of the crisis can be gauged through this story the eiffel tower switching off its twinkling lights the most visited monument in the world could go dark an hour earlier than usual french citizens say their prospects look gloomy it's a bit gloomy it's sad especially buildings like the palace des view arts behind me are usually magnificently lit up even with little light so we know there is a crisis the The question is how bad could this get and is there a way out let's try to find some answers to start with American officials are a a bit alarmed at the crisis After debatable predictions let's discuss some hard facts like the energy crisis in Europe’s getting worse by the day electricity bills are soaring gas reserves are depleting and winter is coming as the mercury dips gas and oil consumption is going to pick up but Europe does not have enough supplies so what is it doing to avert this crisis from snowballing cost-cutting almost every European nation has set new power saving targets new limits on energy consumption take the case of Greece it has told the public sector to turn off lights or face consequences what sort of consequences the withdrawal of government funding to energy firms listen to this reduce the air conditioning maintain the heaters remember to turn off the lights so we are not wasting energy on the lights on government, buildings do not still be at midnight we are asking for basic things in France, the government is taking similar steps every day as the evening descends the lights are dimmed the monuments go dark the fountains stop running French cities bear a desert spectacle the scale of the crisis can be gauged through this story the Eiffel tower switching off its twinkling lights the most visited monument in the world could go dark an hour earlier than usual French citizens say their prospects look gloomy it's a bit gloomy it's sad especially buildings like the palace des view arts behind me are usually magnificently lit up even with little light so we know there is a crisis the they don't see any obvious solutions in sight reports claim that white house staff is worried that Putin plans to force a bleak winter on Europe they believe that he might cut off all supplies anytime the impact of which would be severe you see if Putin follows through with this threat Europe will certainly enter a recession that's exactly what the Americans fear reports in American media have gone as far as to say that Europe could be heading back to the middle ages to use fire vote for heating to waiting weeks for supplies and traveling miles for fuel and what's worse this will not be short-term crisis analysts are expecting a deeper prolonged crisis and an even more persistently elevated inflation the figures tell you the story according to our recent survey economies in the The eurozone which is a monetary union of 19EU nations will witness a 1.7contraction in real GDP 1.7 percent and some European nations will be worse off than the others let me show you some more numbers according to the same survey the GDP growth rate in Germany will be down by minus 2.3 percent in France it will be down by minus 2.1 percent and in Spain minus 1.6 interestingly America stands to gain from Europe's suffering let me explain This you see as European economies worsen and cut their reliance on Russia they will be moving more towards the u.s they will be attracted to American firms they will look forward to American Investments as it is America already produces enough of its natural gas so it will not be affected by Russia restricting its flow to Europe even if it were to increase supplies to the continent America already is making up for the loss of Russian gas reports say roughly 70 percent of American gas exports are going to Europe since march U.S firms have imported over 30 billion cubic meters to Europe what does this tell you that the war in Ukraine is proving to be a blessing for American businesses as European cities go dark as European citizens reduce power consumption they will find themselves more and more reliant on American alternatives. #Europe energy crisis