Of course, the subsidies will flow more or less directly to the countries exporting the gas - in other words, Europe will be simultaneously sanctioning and paying for Russia’s little adventure in the Ukraine.
Worse, the subsidies will do nothing to change the fundamental problem, which is that Europe’s green fantasies are unable to produce enough power to keep the grid supplied unless demand goes down (prices are the hinge where supply and demand meet, as anyone who has not taken modern monetary theory knows).
Thus Europe is at the real risk of rolling blackouts. And prices for fertilizer and any manufacturing process that is energy-heavy are also out of control. Germany just reported a 25 percent year-over-year increase in producer prices for January 2022, hyperinflation territory. (7/8)
