Quote (Black XistenZ @ Oct 1 2022 01:13pm)
These protests weren't really large-scale, and they came from the usual suspects. There are still comparatively many Russia simps in former East Germany. The companies want as much relief money from the government as possible, so we can safely assume their complaints to be strategically overblown. They are definitely struggling, don't get me wrong, but I doubt that they struggle as much as they say.
Like I've argued above, Nord Stream was no longer "highly leverageable".
Of course the protests were small and from a certain type of person. It's not cold yet. The point is that in August there were no protests for it, In September there were some, and in October? January?
As to the industrial situation being "overblown", unlike protests this is much more measurable. Every day the market press has more stories about falling European production. Not planned production cuts or warnings, but already happening cuts. Aluminum and zinc production were down 50%
by the end of July. At least a dozen blast furnaces have closed.
This is already a month old:
https://www.bloomberg.com/news/articles/2022-09-04/energy-crisis-europe-s-aluminum-smelters-are-struggling-to-surviveQuote
European [aluminum] production has dropped to the lowest levels since the 1970s and industry insiders say the escalating energy crisis is now threatening to create an extinction event across large swathes of the region’s aluminum production.
Aren't you European? You should be much less blaise about this sort of stuff. You seem to think that you can go through one hard winter and be fine, but that's not how this works. When you take a big metals plants offline, it costs tens of millions of dollars to start them back up again. Once a plant is shut down, the decision to start it back up has to be made very conservatively, with reasonably strong assurances of profitability for at least a few years of operation. Europe will still be experiencing gas shortages in 2023, so this basically ensures that plants closing now will be closed until at least the spring of 2024, and that's assuming a concerted effort to rapidly construct LNGH liquefaction plants and terminals in countries across the Atlantic. To be blunt, none of the countries that have LNG have anywhere near appropriate industrial policy to pull that off. America, Canada and others may want to sell you overpriced gas, but they aren't politically capable of a Stalinist 2-year plan to construct the necessary infrastructure.
NS1/2 were the only way out of this.
But whatever, you have your vague beliefs about things working out, I have facts stating European industrial output was already collapsing when it was still summertime that you just hand-wave away.
Time will teach you a lesson, here. America deindustrialized Europe when it popped those pipelines.