Germany’s (and Europe’s) Self-Inflicted Upcoming Energy Crunch

Source: Ludwig von Mises Institute
by Weimin Chen

“In the first weeks of the Russian-initiated war in Ukraine, Germany, along with the rest of Europe, found itself backed into a corner regarding its energy sourcing as Western sanctions cut off routes and links in the established regional energy and financial infrastructures. There has been no perceptible success in breaking out of this bind. Instead, Germany has watched time tick by. Russia’s Gazprom recently cut gas flow for Nord Stream 1 to 20 percent of capacity. German nuclear power plants remain mostly idle, with three facilities providing 13 percent of the country’s electricity compared to France’s 69 percent. Coal power plants have now ramped up output, with the inevitable approach of the fall and winter seasons in the near term.” (09/19/22)

https://mises.org/wire/germanys-and-europes-self-inflicted-upcoming-energy-crunch