Are European countries ruining their own Economies?

Are European countries ruining their own Economies?

hello I’m Natasha welcome to my Channel
today I want to talk about the energy
issues that we are currently facing in
Europe and why we are in deep trouble I
really got interested in this when I was
looking at some companies to invest in
one called CF Industries Holdings which
is based in the US but it makes plant
fertilizers this company will close one
of its UK fertilizer plants permanently
as it struggles with energy costs it
made me wonder how many companies are
suffering due to the current sanctions
war that we have against
Russia it is clear that personally
speaking people in the UK are suffering
and everyone is noticing a large
increase in their energy
prices the national energy Action Group
estimates that the number of households
in fuel poverty across the UK is six .5
million before Russia invaded Ukraine
the European Union was highly dependent
on Russian energy
resources in 2021 EU countries imported
155 billion cubic meters of Russian gas
which accounted for about 45% of total
gas
Imports 2 years later in the third
quarter of 2023 this amount amount is
down to
12% this has mainly been compensated for
by a sharp increase in Imports of
liquified natural gas LNG particularly
from the
US LNG loaded onto tankers at us ports
cost nearly four times more so this
explains why Energy prices are going up
so
significantly now let’s contrast the
situation in Mainland Europe with that
of Hungary a country which continues to
import gas and oil from Russia and also
that of Bulgaria which has interestingly
very cheap energy
costs the lowest prices for electricity
were observed in Bulgaria
01137 per kilowatt hour and Hungary
0.161 per kilowatt hour having recently
struck new energy deals with Russia
households in Hungary are also pay
paying some of the lowest rates for
electricity in Europe the country
Imports around 90% of its oil and
natural gas much of it from Russia in
20121 prime minister Victor orban’s
government negoti negotiated a 15-year
contract under which gazprom would ship
4.5 billion cubic met of natural gas to
Hungary annually via tur stream and
Ukraine then if we cons consider
Bulgaria their main local energy source
is coal and nuclear energy which
significantly contributes to energy
Independence
there over the last decade coal has
provided roughly half of the electricity
in the country and nuclear another
37% so clearly ideally the best case
scenario is it a country is
self-sufficient for its energy needs
like
Bulgaria however if it cannot be then it
needs to be able to Source the cheapest
energy that it
can Western media and politicians have
not brought attention to the fact that
due to the sanctions that they
themselves imposed on Russia European
businesses and people are suffering
significantly meaning essentially that
their countries will be unable to
compete internationally due to Rising
costs we are already seeing
de-industrialization in a country like
Germany for
instance manufacturing output there has
been downward on a downward Trend since
2017 there is this massive push towards
Renewables in the EU but in 2022
renewable energy sources made up 41.2 %
of gross electricity
consumption it is my view that if we
cannot meet our energy need needs
through renable sources then we need to
find the cheapest option for our
country if that means talking to Russia
and removing sanctions then that is what
needs to be done I also think that
Europe must consider how it can be
self-sufficient going forward in the
long term if it does not want to rely on
Russia or any other country
I understand that leaders in Europe
cannot be seen to backtrack on the
sanctions that they have imposed but
clearly their approach to removing
Vladimir Putin has not worked and they
need to reconsider this for the benefit
of their own
countries yes maybe there may be a bit
of upro if sanctions were removed and
negotiations with Russia started but I
am certain that people would forget
about this once their costs reduced and
prosperity improved

Are European countries ruining their own Economies?
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Are European Countries Killing Their Economies?
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Discover the potential factors that might be impacting the economies of European countries. In this video, we delve into the question of whether European nations are inadvertently causing harm to their own economic systems. Stay tuned to unravel the complexities of this pressing issue and gain a better understanding of the current economic landscape in Europe.

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Video Title: Are European countries ruining their own Economies?