Europe's Energy Crisis and the EU Banana Republic

[SOL]

Alcoa to Curb Aluminum Output in Spain as Energy Costs Soar

Alcoa Corp. is set to halt primary aluminum production at its plant in Spain for two years, the latest casualty of soaring energy prices in Europe.

The curbs at Europe’s second-largest aluminum plant come after energy costs spiked to fresh records last week, putting heavy industries under increasing financial strain. Aluminium Dunkerque Industries France, the region’s top smelter of the metal, trimmed output earlier this month.

Alcoa welcomed a vote by a majority of workers at the San Ciprian plant in Galicia to back the proposal to stop output until the end of 2023, said a spokeswoman for the company. She said the plan offers a chance of a viable future to the troubled plant. Alcoa has been trying for years to close the operations, saying the smelter was “uncompetitive.”

The company said it expects fourth-quarter 2021 restructuring-related charges of $60 million, or 32 cents per share. It also committed to provide employees full wages and benefits during the 2-year curtailment of the smelter.

“This has been a challenging road for everyone involved,” Chief Executive Roy Harvey said in the statement released after the close of trading on Wednesday. “With this agreement, we now have a path to resolve the significant challenges that the facility has faced and can begin to build a stronger smelter in two years.”

https://finance.yahoo.com/news/alcoa-cu ... 29190.html
Stupidity in progress. It appears that the only qualification one needs to be a politician is to have a low IQ or think and act like jackass.



If Europe does not check its silly don quixote ideas at the Door, A host of industries will move to greener pastuers. The current Green energy theme is retarded and while you can't fix stupid, you can get rid of it.

[SOL]

Russian gas continues to flow east via Yamal-Europe pipeline

MOSCOW, Dec 29 (Reuters) - The Yamal-Europe pipeline that usually delivers Russian gas to Western Europe was sending the fuel back to Poland for a ninth straight day on Wednesday, according to data from German network operator Gascade.

Data showed flows at the Mallnow metering point on the German-Polish border were going east into Poland at an hourly volume of nearly 1.2 million kilowatt hours (kWh/h) on Wednesday morning, on par with the flows for the past 24 hours.

The pipeline is a major route for Russian gas exports to Europe.

Auction results showed Russian gas exporter Gazprom has not booked gas transit capacity for exports via the Yamal-Europe pipeline for Wednesday.

Russian President Vladimir Putin said last week that Germany was reselling Russian gas to Poland and Ukraine rather than relieving an overheated market, putting blame for the reversal, and rocketing prices, on German gas importers.

The German Economy Ministry has declined comment on Putin's remark. Gas importers have not responded to Reuters requests for comment.

Data from Slovak pipeline operator Eustream showed capacity nominations for Wednesday's Russian gas flows from Ukraine to Slovakia via the Velke Kapusany border point, another major route for Russian gas to Europe, were at 843,422 megawatt hours (MWh), rising from Tuesday's 773,712 but still below levels seen earlier in December. (Reporting by Oksana Kobzeva and Vladimir Soldatkin in Moscow; additional reporting by Jan Lopatka in Prague; Editing by Michael Perry)

https://finance.yahoo.com/news/russian- ... 22798.html


It seems the Germans are trying to create a new narrative and starting another war with Russia. Sadly they will lose and lose big. You can't win against an energy giant when you are a beggar

[stefk]

The fat guy on the links is not very fit, but he is handling a beautiful wooden clubbell !!!!

[gnosis12]

Morons will be morons. If Germany really thinks it can power itself with windmills and solar, they are in big trouble. If it were a tropical country one could make the argument for Solar but at this stage Germany with the collective EU are looking at a terrible situation. It looks like no matter how hard they try to stop China, China is destined to be at the top for the western world is ruled by MORONS

[harryg]

Certainly in the EU, they want a move to 'green power', however misguided that might be.

Green power is more expensive than the existing, so won't that be a significant inflationary force?

And how will they balance the green narrative with the significant extra mining that will be required (copper, silver, lithium, cobalt etc.)? On the one hand the environmentalists claim to despise mining, and on the other they want to force everyone into something which will require a lot more of it.

I'm concerned that miners will have to spend so much time and money being 'seen to be clean' that they won't profit.

[SOL]

Certainly in the EU, they want a move to 'green power', however misguided that might be.

Green power is more expensive than the existing, so won't that be a significant inflationary force?

And how will they balance the green narrative with the significant extra mining that will be required (copper, silver, lithium, cobalt etc.)? On the one hand the environmentalists claim to despise mining, and on the other they want to force everyone into something which will require a lot more of it.

I'm concerned that miners will have to spend so much time and money being 'seen to be clean' that they won't profit.

It might appear that I am going off tangent but I am not.

Russia is solidifying its power by helping nations that America is targeting but more so their focus is on resource rich nations. Venezuela appears to be finally finding some sort of bottom (good place for risk takers to consider investing in). Russia stabilized Syria, Russia ended the Coup in Belarus by helping support the current president. Russia is stemming what many call a western based Coup in Kazakstan.

China is also taking similar measures, they control most of the minerals necessary for creating EV batteries (rare earth metals). What is taking place is Russia and China are slowly building a silent powerful net over the commodities markets and they will use this power to take on the West without having to fire a shot.

In Ukraine the US is going to lose the power struggle, for no matter how much they arm Ukraine, Ukraine cannot stand up to Russia. Russia will destroy them even faster than destroyed Georgia. Eventually, Ukraine will be forced to bend a knee and move back towards Russia.

Even with the corrupt Yanokowich in charge the situation in Ukraine was 10 times better than today. They are thinking of issuing food cards to Ukrainians, something that I believe was only done during world war 2.

My point of this is that the west and the greenies are making so much noise about a green revolution but the supplies they need to bring this illusion into reality is something they don't control.

Additionally, our contacts in Asia are not seeing the same inflationary spikes that most of Europe and America are facing. So we are moving into a bipolar world and no matter how you slice it, the West is on the losing end of this battle.

There is no nation that will challenge Russia one on one. America might have the strongest Army but Russia has the most advanced missiles. Even with Conventional Nukes, they have enough firepower to destroy the world several times over. This means that Russia will continue to extend its influence in the Euro-Asia area as this zone holds the largest supplies of natural resources in the world. Like the Chinese, the Russians are also patient but they combine Patience with chess moves, so they don't need to be patient for as long. China is solidifying its position in the resource sector and Russia is doing the same. The West is killing its mining sector, so they are in a lose-lose situation.

[nicolas]

The Sandinista government in Nicaragua recently broke ties with Taiwan and welcomed Chinese diplomats with open arms.
Some saw this move as a first step toward reviving the Nicaragua Canal project, with the financial backing of China.
An alternative to the US-controlled Panama Canal (which is also becoming obsolete) would make it easier for China, Russia, and countries hit by sanctions (Iran, Venezuela) to move stuff around, giving the middle finger to the US and their sanctions.

[stefk]

Remember three years ago, a french popular revolt, les gilets jaunes, the yellow vests, against the greenies laws of macron. Democracy in Europe ......que dire ?

[harryg]

It might appear that I am going off tangent but I am not.

It was an informative tangent. I know people working in Africa who have told me that the Chinese often (usually) build infrastructure there in exchange for future mineral rights rather than money.

And your comments that the EU will have no control over the ingredients makes me lean even more towards the idea that it will be inflationary. Maybe those that control the necessary rare metals will hold us to ransom.

I can't make my mind up about mining companies for now but the whole ESG thing worries me.

[harryg]

Remember three years ago, a french popular revolt, les gilets jaunes, the yellow vests, against the greenies laws of macron. Democracy in Europe ......que dire ?

Well, as we know, the French have always been revolting.

The gilets jaunes all kicked off when they put an extra tax on petrol and suggested lowering the speed limit. They blocked roads and roundabouts, force-opened motorway tolls and stuff like that. The police did nothing about it in the beginning. Macron announced that the extra fuel tax wouldn't go ahead, but that didn't work. In the end it descended mainly into riots which of course gave the govt the necessary green light to step in heavy-handed - and some skirmishes got very nasty.

[Yodean]

*****

Hmmm, some "global warming" right about now would be nice ...

[harryg]

Certainly in the EU, they want a move to 'green power', however misguided that might be.

Green power is more expensive than the existing, so won't that be a significant inflationary force?

And how will they balance the green narrative with the significant extra mining that will be required (copper, silver, lithium, cobalt etc.)? On the one hand the environmentalists claim to despise mining, and on the other they want to force everyone into something which will require a lot more of it.

I'm concerned that miners will have to spend so much time and money being 'seen to be clean' that they won't profit.

Further to this, we have news today about RIO & lithium:

https://www.reuters.com/article/serbia- ... NL1N2U103V

[harryg]

Freeport FCX

Adkerson, top tier copper mining’s longest serving CEO, said the task of increasing copper supply is getting harder as environmental groups and local communities refuse to grant miners a so-called social licence to operate and politicians seek a bigger share of industry profits:

“That’s just the reality around the world today.”

https://www.mining.com/politics-turning ... -adkerson/

[Cinnamon]

I am in favor of Green energy and saving the planet, but I am not a fanatic I don't believe we need to get rid of Oil, coal, and natural gas. I believe they can be used hand in hand with other green technologies until a viable solution is found that could replace fossil fuels. Until that point is reached I agree the average Greenie is dreaming

https://www.youtube.com/watch?v=bC-BYhuFUtY&t=559s


https://www.youtube.com/watch?v=RqppRC37OgI

[nicolas]

So, first, we have this:

EU Lawmakers Uphold Ban on New Combustion Engine Cars by 2035
https://www.bloomberg.com/news/articles ... ify%20wall

And now, we have that:

Switzerland Considers Electric Vehicle Ban To Avoid Blackouts
https://oilprice.com/Latest-Energy-News ... kouts.html

You guys know how to invest in horse carriages?