Can Europe Survive Without Russian Coal and Oil? Here’s What It Means for Skyrocketing Prices…, by Chris MacIntosh

Europe seems hell bent on cutting off energy imports from Russia. Which raises the question: what is Europe going to use for energy? From Chris MacIntosh at internationalman.com:

Russian Coal and Oil

Wait, you mean dirty stinky polluting coal? That coal?

Which brings me to….

EU TO BLOCK RUSSIAN COAL

So the EU, already in the middle of the worst energy crisis since the Arab oil crisis and likely worse, is now pushing to eliminate imports of Russian coal. Just so you understand the importance of Russian coal to Europe…

Some 70% of Europe’s thermal coal comes from Russia. Coal accounts for about 20% of continental Europe’s electricity production (as of 2019; perhaps it is 25% now).

Watching the news is enough to drive a man to drink or to put his drink through the telly.

But fear not, there is a silver lining.

Continue reading→

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