How Did This Happen So Quickly? The UK / European Edition -- September 21, 2021

I asked the same question yesterday, but with regard to China. How did this happen so quickly? Seemingly overnight.

When UK and European politicians started blaming Russia for their "sudden" natural gas shortage, it was time to start looking for the truth. LOL. 

Google: 2017 UK closes largest natural gas storage site.

Wow, wow, wow -- things become much clearer. Hundreds of hits when you google that.

This is my favorite: UK closes its largest natural gas storage site in 2017.

The article is re-printed in full here, in case the above link breaks: https://wellsofinterest.blogspot.com/2021/09/rough-end-for-uks-largest-gas-storage.html.

I can't post it here in full because it exceeds Sophia's guidelines.

Bottom line: in 2017 UK closed its largest natural gas storage site which accounted for 70% of its total storage, and then had the chutzpah to say this:

On an annual basis, the UK can comfortably meet demand as there is enough production and import capacity. 

LOL.  

Parse that statement: "On an annual basis..." That's the problem. I'm not even going mansplain it -- if you don't understand it, you're reading the wrong blog. Go read Rachel Maddow. 

That was the UK.

Of course, for the EU: it was Groningen. 

I may need a new tag: reality sucks. 

By the way, who found that little gem? Will Kennedy reading Bloomberg. 

By the way, as bad as it already it, British Steel says that energy costs are spiraling out of control and warns that there may be a 50-fold increase in power prices. That's not a 50% increase in power prices; British Steel said a 50-fold increase. Google it; I'm tired of linking paywalls.