Mon May 29, 2023 – 2:09 pm EDT
(LifeSiteNews) –– The news that Germany is entering recession is hardly surprising. It is run by a Green-Left coalition whose aim has been the deindustrialization of the country since they took power in September 2021.
How is that going? Having closed the last remaining nuclear power stations, Germany has replaced pipeline gas with coal, which now powers a third of its electricity needs. What is more, the predictable collapse of its industry threatens the core funding model of the European Union itself.
Pipe dreams
Following the mysterious detonation of the Nord Stream pipelines in September 2022, energy prices have placed tremendous pressure on German industry.
Fearing another pipeline attack the Green-Red government has turned to sea transported liquefied natural gas.
This was sought last year as a replacement for the 40 percent of domestic gas consumption it has lost to sanctions and sabotage.
However, the German government’s plan to replace cheap Russian pipeline gas with LNG is beset with problems. Environmental protests and an industry hesitant to commit to the unpredictable economic and political situation have seen plans to build new LNG terminals scaled back.
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