Armstrong Economics Blog/Energy Re-Posted Oct 7, 2021 by Martin Armstrong
The greatest problem I have is that those in power are evolving to the lowest possible denomination. Thirty years ago, I would have intelligent conversations with heads of state. Those days are gone. If I met with Biden, I would probably have to bring a napkin to wipe the drool from his face.
I think it is time we nominal “Dumb & Dumber” for President/Vice President. I think they have a better than 50/50 chance of doing a far better job than this crop of politicians on both sides of the fence on a global level. We have had Biden immediately cut off oil production because he is for saving the planet, but the alternative energy is not ready. Then he turns to OPEC to increase production. How many Americans lost their lives in Cheney’s war to get control of oil?
Then in Europe, the government was against being reliant on Russia and the whole gas pipeline dispute. Because of the Japanese reactor crisis, Merkel outlawed nuclear energy. Wind power has failed so the result is that now the Civil Protection Office has unveiled an ad campaign focusing on all aspects of crisis preparation! They are soon to release a targeted strategy addressing “stockpiling, extreme weather, power failure and emergency baggage.” Then these amazing officials are releasing a new book entitled “Cooking Without Electricity.”
Here is a look at our more recent climate data. The lowest temperature in Oxford England since 1853 took place in 1895 and the highest temperature was in 1990. In part, the global warming people only look at the data post-1850 and conclude the Industrial Revolution is to blame. However, temperatures peaked in 1990 and have been gradually declining. With a solar minimum, there will be more volcanoes and colder temperatures. This warns that their cutting of all fossil fuels is coming at the worse possible time.
Obviously, not only will the weather turn colder, not warmer, but they are already preparing German citizens for blackouts arriving in the wintertime. Here we have the world’s sixth-largest economy preparing for an energy shortage crisis. Germany can no longer power itself to protect its own citizens because of Merkel’s decisions. Who has she been advised by? The truth is that this problem of an energy crisis is European-wide. This should make the next two winters very interesting.