Europe only has space for a small gas refill in 2023

Good news – ain’t that? Europe’s gas consumption has dropped so the lack of Russian gas is not so bad. Prices are on the high side still but as long as there is enough of it, that does not bother our politicians and gas executives. But it should. Because it masks a much more important problem. Because the gas consumption did not drop because people were saving but because industry leaves Europe. Many industries were already hanging in there by their teeth and this was the straw that broke the camel’s back. Thats especially galling for deeply industrialized countries such as Germany. Falling energy consumption is a harbinger of doom.

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