Monday, July 4, 2022

German Industries Could Collapse Due to Russian Gas-Cuts

 Do you remember when Trump warned Germany about hitching their entire wagon to Russia’s energy?  Also realize that Germany is a huge economy and trading partner and supplier to USA.  The world continues to move towards recession, depression, food shortages, electricity shortages, water shortages, drought and famine.  But please remember as a follower of Christ our hope and joy is not OF THIS WORLD.  We look forward to living in a new world in our new bodies and reigning with Christ for 1000 years.  This current world order is passing away and all the solar panels, electric cars and recycling efforts will not save it.

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Entire industries in Germany could collapse due to natural-gas supply cuts from Russia, said Yasmin Fahimi, the country's top union official.

"Entire industries are in danger of collapsing permanently because of the gas bottlenecks: aluminum, glass, the chemical industry," Fahimi, the head of the German Federation of Trade Unions, told Bild am Sonntag. "Such a collapse would have massive consequences for the entire economy and jobs in Germany."

The chemical industry, which employs about 346,000 people, is the third-largest industry in Germany, according to Germany Trade & Invest, the country's investment promotion agency.

Germany — Europe's largest economy —  is reliant on piped natural gas from Russia, which accounts for 35% of its imports of the fuel. The industrial powerhouse imports almost all of the natural gas it uses, which accounts for about a quarter of the country's total energy mix, according to the economy ministry.

https://www.businessinsider.com/germany-faces-entire-industries-collapse-russia-natural-gas-supply-cuts-2022-7

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