Quote (WNxIrvine @ Sep 12 2022 06:14am)
Short term loser perhaps.
Sure is firing up the self-sufficient drive across Europe though. More renewables, more nuclear and never again bending to the whims of some deranged despot.
Imo, a good thing.
I agree self sufficiency is a good thing (big part of the reason I am pro-Russia in this war, as victory here opens up space for sovereignty worldwide), but it's also a long term project that Europe simply isn't up to.
France and Germany used to be able to build a nuclear plant from site selection to online in just 5-8 years, during the 1970s. They did this with state planning and robust industrial policy, state-owned enterprises with a dedicated workforce with inhouse technical expertise. None of that exists now. Not the SOEs, they're private. Not the industrial policy, it's made almost impossible by the EU and Euro. Not the state planning, everyone in their governments are neoliberals, bankers and 'poli sci' idiots.
And that's to build plants in 5 years, at best. 5 years is a looong ways away when you already have metals industries begging for help
https://eurometaux.eu/media/qnhn5k30/non-ferrous-metals-ceo-letter-on-energy-crisis-06-09-2022.pdf:
Quote
Ahead of Friday’s emergency summit, the business leaders of Europe’s non-ferrous metals industry are writing together
to raise the alarm about Europe’s worsening energy crisis and its existential threat to our future. Our sector has already
been forced to make unprecedented curtailments in the last 12 months. We are deeply concerned that the winter ahead
could deliver a decisive blow to many of our operations, and we call on EU and Member State leaders to take emergency
action to preserve their strategic electricity-intensive industries and prevent permanent job losses.
50% of the EU’s aluminium and zinc capacity has already been forced offline due to the power crisis, as well as
significant curtailments in silicon and ferroalloys production and further impacts felt across copper and nickel sectors. In
the last month, several companies have had to announce indefinite closures and many more are on the brink ahead of
a life-or-death winter for many operations. Producers face electricity and gas costs over ten times higher than last year,
far exceeding the sales price for their products. We know from experience that once a plant is closed it very often
becomes a permanent situation, as re-opening implies significant uncertainty and cost.
Europe’s clean energy goals require a competitive and growing metals sector to ensure a secure supply of the extra raw
materials needed to shift away from fossil fuels. Base metals, battery metals, and other metals are all needed in higher
volumes for Europe’s grid infrastructure, electric vehicles, solar panels, wind turbines, and hydrogen electrolysers, as
well as a complex web of other essential value chains across the European economy. We actively support your drive to
improve Europe’s strategic autonomy for its energy transition, and we want to make the long-term investments needed
into advancing and expanding our operations ready for 2050.
Europe, if this sanctions regime continues, is probably fucked.
There is not enough LNG in the world to power European industry. Governors in the US also just penned a letter warning against too much LNG exports to Europe, as it's driving the price higher and they need it for themselves. You think America is going to power Europe at the expense of it's own political stability?
Ridiculous.Not even going to bother talking about solar panels. They cannot be brought online fast enough, even if every last watt of China's output was sent direct to Europe.