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News & Articles By Ethan Huff
09/14/2022
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By Ethan Huff
60% of Great Britain’s manufacturing sector risks closure due to soaring energy prices
The results of a new survey on the current state of the British economy are dire, suggesting that as many as six in 10 manufacturing businesses throughout the country are at risk of closing due to skyrocketing energy bills. MakeUK, a manufacturing lobby organization in the United Kingdom, announced over the weekend that 42 percent […]
09/13/2022
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By Ethan Huff
Return to the Dark Ages: European steel, metals industries plead with EU to stop de-industrializing the continent with its sanctions against Russia
Dozens of relevant stakeholders sent a letter to European Commission President Ursula von der Leyen, European Council President Charles Michel, and several others in key position of power calling on them to take immediate action to “prevent permanent deindustrialisation from spiralling electricity and gas prices.” Western sanctions against Russia have made it prohibitively difficult for […]
09/12/2022
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By Ethan Huff
Fertilizer crisis poised to slash global grain production by 40%, warns UN
Maximo Torero, a chief economist at the United Nations (UN) Food & Agriculture Organization (FAO), is warning that nearly half of global grain production could disappear by the next planting season. Runaway inflation, supply shortages, and the ongoing energy crisis are creating a perfect storm for a 40 percent reduction in grain production, Torero told […]
09/09/2022
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By Ethan Huff
PhD economist says energy and financial situation in Europe is “much worse than many understand,” warns of “mayhem” in weeks or months
Forecaster, associate professor, CEO and economist Tuomas Malinen, PhD, says that economic conditions in Europe are much worse than most people – including Europeans themselves, who are being kept in the dark by their politicians as to what is transpiring – think. In addition to the energy crisis – several of Europe’s largest steel mills […]
09/07/2022
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By Ethan Huff
Natural gas prices soar across Europe following Russia’s announcement that Nord Stream 1 will remain offline indefinitely
It is official: The Nord Stream 1 (NS1) natural gas pipeline running from Russia to Germany is now fully offline. And European natural gas prices are, as you probably already figured out, skyrocketing. A brand-new “oil leak” supposedly prompted Russia to halt all gas flows through NS1 after earlier stating that the pipeline would still […]
09/07/2022
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By Ethan Huff
70,000 protesters swarm Prague in protest of energy crisis: “Europe on the brink”
Tens of thousands of people – around 70,000, according to reports – descended on Prague over the weekend to protest against the government of the Czech Republic for sanctioning Russia and helping to create an energy crisis. The mob demanded that the ruling coalition take a neutral stance on the war in Ukraine to ensure […]
09/07/2022
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By Ethan Huff
Europe’s top steel plants CLOSE due to “exorbitant rise in energy prices”
Even though energy prices have slightly subsided, ArcelorMittal, the world’s largest steelmaker, is shutting down two plants and idling another. In a statement, ArcelorMittal indicated that the two plants being “partially closed” are located in the German cities of Bremen and Hamburg. The one being idled is located in Asturias, Spain. “Weak market demand and […]
09/06/2022
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By Ethan Huff
TOO BIG TO FAIL? European governments start bailing out energy companies to prevent total collapse
Financial contagion is sweeping through the European energy markets, which are massively overleveraged and ripe for a collapse. Governments in Germany, Austria, Sweden and elsewhere are trying to stuff chewing gum into the gaping holes of the sinking Titanic by bailing out energy companies, which can no longer cover their payments now that Russian oil […]
09/01/2022
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By Ethan Huff
Recession or DEPRESSION? The number of Americans taking out loans just to buy groceries has DOUBLED this year
The “buy now, pay later” (BNPL) option that you often see on checkout screens when making an online purchase is more popular than ever before, thanks to the failing economy. As prices rise and hyperinflation rears its ugly head, increasingly more consumers are opting for these short-term loans when eating out at restaurants or even […]
08/31/2022
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By Ethan Huff
FREEZE ‘TIL YOU’RE BROKE: Millions of Brits face energy poverty this winter due to UK government’s price cap increase
Starting October 1, the government-imposed cap on energy bills in the United Kingdom will increase from £1,971 ($2,330) at present to £3,549 ($4,189). This change by Ofgem, the UK’s energy regulator, will send millions of British households into energy poverty, experts warn. (Related: Looks like dismantling fossil fuel energy infrastructure was not such a good […]
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