The EU & WEF are poised to "trigger" Food & Gas Crises and Panic Cycles in Europe
EU Energy Panic Cycle to Begin
By: Martin Armstrong
July 26, 2022: On August 1, the European Commission will begin to reduce its demand for gas with no alternative in place. Unsurprisingly, our computer ["Socrates" System] states that a Panic Cycle will begin in August or September and go into Q1 of 2023. Europe must reduce its gas consumption by 15% (45 billion cubic meters). In comparison, Russia delivered 150 billion cubic meters to the EU last year. Russia’s largest gas provider, Gazprom, has threatened to cut off Europe from gas entirely. Europe has no alternative solutions at this time. Therefore, they’re implementing a “Save Gas for a Safe Winter” plan in Brussels.
Commission chief Ursula von der Leyen claims that all member states will suffer from their proxy war with Russia, albeit some more than others (e.g., Germany). “It’s important that all member states contribute in the saving, the storing and are ready to share gas,” she said. Let us see how friendly this bloc really is when it comes to sharing an essential resource in limited supply.
Member states are now required to submit energy plans to the Commission by the end of September and update plans every two months until March 2023. There is proposed legislation that would allow the Commission the authority to declare a “Union alert” and impose mandatory gas caps on member states.
The bloc plans to fill its gas storage capacities to 80% by November, but that may be a lofty goal. European Commissioner for Energy Kadri Simson expressed pessimism in interviews. “We risk ending this winter with empty storage, which will be impossible to refill in time for the next heating season,” she warned, as this crisis is only beginning. Simson and others are calling on the public sector to reduce demand.
This will fall back to the citizens, who will be asked to limit their consumption and abandon comforts for a proxy war they never voted on. Frans Timmermans, the Executive Vice-President of the Commission in charge of the European Green Deal, has already suggested people switch off lights and electrical appliances and reduce AC/heater usage. No one will stop these politicians from flying around on their jets, surrounded by bodyguards in numerous SUVs, while they make the people suffer for their poor policies.
Source: Armstrong Economics