Should the Phoenix Arise; the Bateman Equation and Wind Energy.

[NNadir]

24. The reality is, reported with references, that Germany is deindustrializing because of high energy prices.

If I were avoiding references, and just whining off the top of my head, I wouldn't be commenting on what reality is and is not.

That's just me though.

Text from the reference I just provided, and will link again: Big adjustment! Basf quietly closed 11 factories in Germany and transferred to China for plant investment!

...Energy crisis aftereffects! Most overseas chemical revenue fell!

It all starts with the energy crisis in Europe after the Russia-Ukraine crisis.

Since 2022, the slowdown in the global economy, geopolitical tensions caused the chemical industry to face a number of problems such as shrinking demand, supply chain shocks and declining market expectations, resulting in a decline in the industry since the high point in 2021. According to the current 2023 annual financial report released by domestic and overseas giants, in the face of high oil prices and falling chemical prices, the performance of global chemical giants is generally under pressure, and the industry as a whole is seeking a breakthrough in weak demand.

According to the performance of the 15 important chemical giants in the world, the performance of the global chemical giants in 2023 generally declined (13/15, accounting for 86.67%). In terms of profits, in addition to Mitsubishi Chemical rose 511%, Wanhua Chemical barely increased, the rest without exception plummeted (13/15, accounting for 86.67%), of which Lotte Chemical plunged 975%, Evonik Industries AG plunged 126%, DuPont fell 92.8%, Formosa Plastic Group fell 80%. From the partial results of the first quarter of 2024, the situation has not improved.

An important reason for the sharp fall in profits: excessive cost increases. Since the conflict between Russia and Ukraine, Russia's gas supply to Europe has continued to decrease, and the gas supply of "Nord Stream 1" once dropped to 0. This has forced Europe to use high levels of natural gas as an alternative fuel. European gas prices ($4.8 / mmBTU) and electricity prices (€0.05 / KWH) are still higher than pre-pandemic levels...

Oh wait!!! I'm sorry!!! So called "renewable energy" is cheap! I read it all the time, right here, where some people are apparently living in that "renewable energy" nirvana that's always getting here, "by 1990," "by 2000," "by 2010," "by 2020," and as I read today, "by 2030." It's "cheap" if everyone is willing to turn of the lights, huddle in the dark, stay out of work, go nowhere, shudder in the cold because of an episode, no matter how long it lasts, of Dunkelflaute. Otherwise they have to pay the climate and economic costs of redundancy.

Household electricity prices worldwide in December 2023, by select country

Germany is reported to be tied with the UK for the 4th highest electricity prices in the world.