You knock some forms of energy out of the market and the price of the energy that’s left goes up. How about that? From Chris MacIntosh at internationalman.com:
As of 2019, almost 6% of Europe’s electricity was generated by burning wood chips (trees), which is almost twice the amount of electricity generated by solar.
Roughly 30% of the wood-chips came from Russia.
Sanctions have put a halt to this and additional supply cannot be made up by the US and Canada (the other two big wood-chip suppliers to Europe). You probably know where we are heading here… About 2% of Europe’s base load electricity production is gone, putting additional demand on electricity generated by gas, coal and nuclear.
Burning wood is quite literally retarded, but these muppets have decided in their wisdom that wood chips are actually “green”. In any event, they’ve now lost 30% of this wonderful “green, renewable” energy source.
Gas can’t be increased (for obvious reasons) and neither can nuclear (those nuke plants that haven’t been shuttered are operating at full capacity). So that leaves coal, which needs to come from South Africa, the US, Indonesia, or Australia — not that there was much spare capacity from these producers even before the sanctions went on… and that was with Russian thermal coal exports. Oh, what a pickle!
When looking at the components of European energy, it is literally impossible to come away without a view that their energy crisis has no realistic viable solutions on the horizon.