Though the situation is ever changing, currently the Russian government has announced an official shutdown of all natural gas exports to Europe through the Nord Stream 1 pipeline and plans to maintain the shutdown until the EU ends its economic sanctions over the war in Ukraine. This means that around 40% of Europe’s energy resources are now gone, with supply chain issues surrounding the other 60% and prices skyrocketing for households and businesses.
Back in March in an article titled The Biggest Lies (So Far) Surrounding Russia and Ukraine, I noted that:
There’s something else the media does not talk about much, which is Europe’s reliance on Russian oil and natural gas. If you want to see actual price inflation caused by Russia, let the EU ban Russian oil imports, or watch as Putin cuts off the supply. Europe is dependent on Russian oil and gas for about 40% of overall energy production. They cannot even survive a single year without it. If Russia retaliated and blocked energy exports to Europe, the EU would have to siphon oil from many other countries, reducing global supply dramatically. This would cause gas prices to explode to double or even triple current levels.
For now, all talk in the mainstream media will revolve around two things – What will be done to prevent disaster, and how evil Russia is for cutting off the European population from warmth in wintertime.
As tempting as it is, I’m not going to get into the morality of Russia’s responses to Western sanctions. (After all, the U.S. and European allies tried to economically destroy Russia. Both sides are being played by globalists to create a catastrophic, worldwide economic collapse.)
Instead, I want to cover the inevitable EU response.
European governments are now in damage-control mode.
The EU can print as much money as they want, but this doesn’t help them if they can’t acquire enough energy resources to provide the heating and power the public needs. There is zero chance that they will be able to fill the void left behind by Russian gas and oil, so a certain percentage of the European population is going to suffer regardless.
Here are the developments Europe will see in the near term:
- Rolling blackouts
- Further surges in energy prices
- Further business shutdowns due to unaffordable operating costs
- Further price inflation affecting general goods (including food)
- More government price controls
- Governments pushing the idea of “Universal Basic Income”
- Rationing of food, fuel and other necessities
- Severe economic decline and astronomical job losses
- Significant numbers of people freezing to death this winter
- Civil unrest including protests, riots and brutal police and military response
I could continue with this list but I’m pretty sure you get the idea…
It’s not going to be pretty.
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