Europe's Energy Nightmare Has Only Just Begun 

great example of how to tell half a story.

It's amazing how they left the part out where their leaders said that they were going to stop using Russian gas

Can you really call it a "crisis" when it's by design?

I had to do a police check, physical and mental evaluation to be allowed to drive a public bus. Should be manditory for politicians as well.

"Tough" in Europe is super comfortable in some other part of the world

This is like complaining about the severity of a hangover after a binge. Europe made an active decision to eliminate any energy redundancy while depending on a single, potentially unreliable source. Not unpredictably, the one source failed.

This take feels a little one-sided..

I loved the part it talked about lessoning demand. It would seem their idea of lessoning energy demand is by selling more electric cars, and we won't even discuss the trend of home automation.

Also this video seems to be focusing on “families need to save energy” the thing is… big business and expensive office space waste so much more gas than anyone else. Let’s not move another thing to be the responsibility of the people and everyone finally do their bit

So Europe impose sanctions on Russia gaz but still expect gaz from Russia? I don't understand the logic behind this.

Addicted? Reminds me of Road Warrior 4 - "You are addicted to water". It is so amazing to hear mainstream pols repeat this - another problem "You are addicted to freedom"

You miss to mention the reason why gas supply from Russia was reduced in 2021 - EU's "green" decision to stop long-term contracts (important for investments) and move to spot market. This was crucial decision that escalated gas issues - but not only for Russian gas - also for LNG as gas distributors around the world can't plan their investments based on spot markets.

SOLAR on the most northern part of the world with lots of clouds and no sunlights, Great idea!!

it's a self-inflicted wound

Watched the 1st 5 mins then had to move on. Only western media says Russia has cut gas to Europe. NS1 operated with six pumps, Canada sat on five holding them under maintenance until Germany retrieved one. The single pump Russia used to pump 20% capacity was not enough. Russia to this day offers gas via NS2 but Germany still says no!

The Problem in Germany is that they have a lot of bureaucracy if a company or a household wants to use green energies that makes this transition also way difficult.

No matter the issue all you need to do is follow the money and you will see the unseen hands

"It remains unclear who carried out the suspected sabotage". Really Bloomberg??

Europe has to grow out of the mindset that Europe's problems are the world's problems but the world's problems are not Europe's problems. ~ Dr.S.Jaishankar

Thats what happens when you print money for 2 years and everyone sits at home doing nothing.

Political leaders around the world must have a system thinker who should give them insight about impacts of their decision.

They are talking about LNG. But not talking about high price and availability. Qatar already rejected Europe. They have only few option like US and Norway. But they are selling gas to Europe at hiked price. No discount for their so-called western ally. Even US hijacking Europe's industrial facilities

It was time to diversify energy sources way back when OPEC decided to create a monopoly for fossil fuels. Now that we're moving to renewables, don't make the same mistake of importing everything from China, who can cut off supply at any time for any reason.

The problem isn’t the lack of infrastructure for LNG, it’s the PRICE of LNG. Japan uses LNG. In 2019 Japan was paying USD8.40 per unit, whereas Germany was paying USD4 per unit for Russian gas. At double the price, the German heavy users of gas like the Chemical industry (eg BASF) and steel (eg ThyssenKrupp) cannot stay in business. The German economy was based upon these manufacturing sectors. Germany will now have to pivot its entire economy away from manufacturing into other sectors, and it doesn’t have a lot of experience in those areas.

The UE is suffering but the US is laughing all the way to the bank!

So instead of being overdependent on Russian gas Europe chose to be overdependent on US gas. Let's wait and see how it turns out.

This video is a great example of how to only tell half the story.

Are they calling a depression a recession?

Mostly in the UK people have been really complacent over the last 100 years. Most countries insulate their homes. The Uk didn’t do any of that because of cheap gas and coal before that. Landowners are pocketing profits and normal people are now stranded with either the cold or ridiculous gas bills, because of the way British housing is being built. Europe on the other hand single-handedly decapitated it’s energy supply by closing down countless nuclear reactors - the cleanest form of energy available- whilst simultaneously failing to provide alternatives apart from Russian gas. It’s time for everyone to see that this is all about corporate interest and the leaders are doing nothing for the people.

Renewable is not reliable. What silver lining they are talking about.

But there is a deliberate belligerence to suddenly cause catastrophe instead of a gradual shift via diplomatic discussions.

To have a better standard of living the experts say we need to reduce our standard of living...whose standards are they talking about, ours or theirs?

I'm glad energy efficieny was mentioned, the penny of Rethink, Reduce, Reuse and Recycle is dropping faster!

Sanctions backfired

I’ll bet Germany wouldn’t be so low on electricity if they hadn’t shut down their nuclear power plants because “chemicals” = “bad”

Meanwhile everything happens by design

They said it's for the climate change, while ignoring the social and cultural change at the same time. European leaders have disconnected with their own people. They accuse Putin but they do not want to talk the disastrous consequences of their own policies.

The cost of a lack of investment, combined with poor investment choices that started about two decades ago.

When they've cleared their forests to put up wind farms and solar panels they will wonder where the rain went. That or they can use the farmland and wonder where the food went.

It saddens me that the topic wasn't disclosed as widely as recollect a Spectator article from a year back highlighting that we were headed already into energy crisis scenario because of Chinese increased demand and empty European gas storages (those few that were left in the UK). It was a warm winter and still covid, hence public focus was elsewhere though. Read for yourself : Power grab: who’s hoarding all the gas? by Seb Kennedy in Spectator

how effective are solar plants in Europe during winter and in clowdy weather ?

I don't think this will push them towards renewables. Rather the opposite, they'll probably look to increase their less green options.

Here in Greece the sun is so strong that needs no fossil fuel for energy. A netmetering solar system can be payed out in less than 1,5 years. Where is the problem? The obstacles and bureaucracy are at totally deterrent level!

We had a hot winter, more than in the past, for firts time i no need turn on my heaters inside house this year, a little aircon was enough. Last winter i spent 400 Euro for gas, this winter 65 only.

what a nice new source of income for US is this LNG.

I europe wants a stable reliable supply of energy they should focus on Nuclear especially new modular designs which can be brought on line much quicker than traditional designs. More smaller units add to reliability.

Been freezing last night and still have my radiators turned off. Just grab an extra sweater/thermal clothing, double pair of socks, bigger blankets and some hot drinks and deal with it. Some people really act like spoiled brats or are just fear mongering.

If Americans are laughing at Europe, and it's very foolish energy policies, wait till you see your energy bills this Winter, with $10/Deca therm nat-gas prices. Bend over greenies.

They just need to harness all that hot air coming out of these politicians mouth's.

This whole video could be summed up in that bicyclist shoving stick in his own wheel meme.

What about pre war moves by Europe to source energy from the spot market rather than sign long term contracts with Russia. Encouraged by U.K. and US, the EU followed this foolish policy (which Putin warned them against) and imposed sanctions on energy. These are problems the USA says EU must cope with while it makes as much money as it can from selling energy and weapons to Europe. The EU has surrendered Europes energy and foreign policy sovereignty to the USA. And I thought Europeans were smart :-/

And they think that turning more aggressively towards “green” energy is the solution. Insanity!

This neglects to mention Russia had multiple sanctions, including blocking them from SWIFT, before they cut the energy supply. They make it sound like it came out of the blue.

It's not too expensive now, it was too cheap for decades.

If Europe is looking for Natural gas, I have some. It's not liquified though, yet. Having said that, the rich in Europe won't need to call me, as they are able to keep warm

OMG what that Liebreich guy said at 15:00 absolutely floored me. Nothing is further from the truth. Fossil fuels are the most secure energy source available. Why do you think all of the great nations got to where they are? Nations and societies WILL NOT thrive without cheap energy - just wait and see......

I would still much rather have a small nuclear power plant in the garden than to rely on wind&solar. Logic: 1 kg (~3 ponds) of uranium has energy density of roughly 1million kg of coal, since one average train wagon carries around 70 tones of coal, imagine how long that train is to carry that much coal that you can hold in your hand. If they can stick a nuclear reactor into a submarine why we do not have those next to every village is beyond me. EDIT: For a few people that would like to point me that we do not need nukes because we have wind&solar. Please explain to me how do you run heavy industry on wind&solar since we have NO reliable tech right now to store energy from these sources for later use. Nukes are proven, existing tech that just need political will to solve the problem, pointing me to liquid metal batteries or something like that in prototyping phase doesn't help anyone until I can buy them on amazon for 10k for let's say 50kWh to power my house or you can buy them to power a freaking aluminum power plant (and google how much such heavy industry burns daily, you would need a mountain of toxic lithium batteries to power that from wind&solar for a single windless night-shift).

You know it’s bad when Bloomberg QuickTake makes content about it . Edit:To be fair to Europe though it will survive the winter as most countries have hit 80% gas storage .TLDR Eu did a great clean view on thisz

"It remains unclear who carried out the suspected sabotage" hahahahaha, yes, sure, what's important is that "It's done"...

Saying that Europe is addicted cheap gas is like saying someone is addicted to breathing air .

The same people that wanted the New Green Deal are begging for fossil fuel oh the irony 😂😂😂

Renewable energy systems do depend largely on the availability of solar insolation, and favourable wind speeds to support energy demand, which grows with population growth rates in Europe. They will revert to hydrocarbon energy which is still abundant and can be exploited in an environmentally suitable way, e.g. coal gasification power generation systems. Why not? The Europeans wanted to punish developing countries through their proposals to dismiss the use of fossil fuels, as poor nations cannot afford expensive renewable resources. Therefore Europe has created its own nightmare and they should not moan about it.

Politicians should go through a psychologist and psychiatrist test to see if fit enough to qualify for serving the state . If unwilling to do so, out through the door and to dog house No exceptions

I don’t understand this strange fixation and notion that we can ever completely go away from fossile fuels. I am not aware of any alternative energy solutions or equipment that lasts forever nor doesn’t require enormous amounts of fossile fuel to produce and maintain. Maybe people need to face reality that alternate energy sources are just that: alternate, and not exclusive and it’s foolish to design any foundational system for a civilization on any single source, be it solar or wind or water or nuke or oil.

Very strange that Bloomberg spends the least amount of time discussing the WHY; but keeps going on about WHAT-now!! If it's self-inflected, admit it and have an open conversation - this could have been avoided!

They could turn coal seams into liquid oil and just pump it out at will - there is hundreds of years of the stuff every where in the world very cheap and affordable - just needs a bit more cleaning up but very doable and could be stored very easily more energy density than gas storage since it could be very quickly converted.

Energy prices as high as never before during cost of living crisis. We are being told that energy is getting expensive therefore costs need to increase. Yet, energy companies make record profits... interesting

Its amazing how EU countries can announce subsidies programs of 200 billion euros and similar to fill bottomless pits (cover energy costs of businesses and consumers), but how they won't consider things like relocating all the people (or those experiencing issues) living above the Groningen Gas field, so extraction can continue at full pace there. With the kind of budgets being thrown around now this should be very, very possible. But I guess we would rather make every external gas provider rich rather than finding ways to exploit the gas we do have. If I understand correctly, the amount of houses is affected that is low enough that with 200 billion euro you could relocate everyone into houses costing more than a million euro each if you wanted to ...

Here in Czechia (and also Poland) we want to build more nuclear power plants but Germany and Austria are against it. Its scary EU can stagnate and become easily incompetive on global market just because of energy prices.

Y'all just kinda left out the part about Europe and the US seizing Russia's cash reserves and cutting off their access to Swift etc. This report is awfully selective in what they remember.

It always amuses me that protesters shout demands for more of this or that, as if more is just waiting somewhere for them to demand it.

Since 2020 I just feel like going to Switzerland and check in to one of those clinics you don’t come out of…….

This is a bit behind the curve, prices are down massively and storages are more than full, consumption way down.

Just a thought I feel for the common people of Europe. The European union countries in general have a per capita income of around 50k usd and they cannot afford prices. Then how are Indians who have a per capita income of 2k supposed to survive if they stop buying from Russia at cheaper rates?

Woodstoves and blenty of wood chips “gobbs of it” are a must for Europeans this winter!

You see the actions of governments and organisations like the eu and the wef, all of this could have been avoided but their combined actions have created all of this. Its almost like it was the plan.

Blame lies with Ursula and Boris, and the general western hegemony.

Let's not forget that dependency on Russian natural gas came about BECAUSE transition to green energy. Before green energy, EU didn't use natural gas.

Russian Federation consists of several Turkic and other nations states. Russian Federation was part of the Soviet Union, but not the Soviet Union itself.

Yeah that's how we will get to renewable energies, Not because it's great for the environment or a domestic political change or Greter Thunberg but because of Geopolitics. Sounds about right to me.

And we only have Supreme unelected Chairwoman Ursula of the Soviet European Union to thank for all of this.

Wonder how comfortable the " leaders" homes will be this winter ?? I think we all know

Anyone should twice before sanctioning their largest energy and grain provider

Their proposal to solve the energy problem is more renewables, dig a deeper hole

9:23 Very upsetting to see that.

So now, instead of using gaspipes, we're re going to ship LNG on tankers from the USA? That's tens of thousands of tonnes of fuel dumped into the oceans, I can't even start to explain to myself who could've made this decision and thought it was a smart one

Interesting how they say supplies were "cut" without mentioning WHO LIKELY blewup the pipeline (Hint: Those who did it warned that they would in video several times)....

Every comment going off about the energy crisis and here I am noticing Mahler 1 being played in the background for the first 2 minutes.

Greetings from Europe, where despite all this panic-driven news we are living in warm homes and have christmas lighting on full blast. But I'm sure making a sensational video for RU-vid to get fear-base clicks was worth it 🙄

Self-made problem..... This is what you get when you have ideologues as leaders.

Glad im in the Philippines. Its at 26c lovely temp here.

I remember what I was in Estonia in 1993 and Russia cut the flow of gas to the baltic states. The hotel i was in had no heat in late fall. I slept in my sleeping bag fully dressed. the water pipes were breaking. I learned to drink coffee because the bakery had heat and I went there early in the morning just to warm up. I suspect Europe wont get anywhere near that dire. life goes on and people adapt.

Having spent a lot of time in Spain and travelled a lot in Spain really large areas of solar panels are very evident as are very large wind turbines for electricity. Despite Spain having really bright sunny days for the majority of the year and the wind turbines being strategically placed in mountain passes they still need to have about % 60 of their electricity production from other sources. So the Northern European countries which have much less sunshine have much less possibility to produce green energy.

no one mentioned why US. and UK exploded Nordstream pipe line? How much at least these two countries added to the crisis ?

Turn off or reduce lights in buildings, advertisements and street lights between 2 am and 6 am. Too many cities are lit up and wasting energy over night when most people are sleeping. Having motion detectors on lights could help. There is so little emphasis on practical conservation solutions.

Watching this is a US Citizen, I just pray our leaders are taking notes. This is something to pay attention to.

I think Europe will fine it just media just try to make it a really big deal

Truss: "It's done" Scholz: "I'm done"

Fossil fuels are going to go anyway. Time to prepare!

No one talking about Nordstream II sabotage and who did it any more. Love how short Media's short term memory is.