and that the e u is by all accounts, a fully modernized and developed group of countries. just days after year p and 3, the sigh of relief that russian gas giant gas problem and now said it would resume supplies to the north stream. one pipeline. it had actually announced that flows would be reduced yet again. so where does that put europe this winter? i'm christy i and you're watching the cost of everything where today. well, we're breaking down the true cost of winters for europeans and missed the 10s political backdrop. and what this means for the average citizen with germany is the largest economy and traditional growth driver. and it's particularly reliant on russian gas. the government is now concerned about how i will keep the lights on over the winter, and it's working on a plan to reduce gas consumption, noting that gas for industries will be reduced before private residences are critical infrastructure such as hospitals that you had previously received around

45 percent of its annual supplies from russia, a while is desperately seeking alternatives. it cannot replace russian gas fast enough ahead of the winter. rationing natural gas can only do so much coupled with the rising prices of energy and slowing production. the e u is now teetering on the edge of serious economic pain in the near term. that could push it into a recession. so for europe, it really does look like winter is coming. and now in search of alternatives to heating with gas, you countries are increasingly trying to wood wood burning stoves are subsidized by the government. but experts warn of serious health repercussion. and to help us break it down further on how the cost of winter will be affecting european residence. let's bring in david towel, the founder of protein capital. so david,

how much more will it cost the average citizen to heat their homes as winter? is this the double edged sword of all the european sanctions on russia? so this year, this winter, excuse me, is going to be incredibly challenging to europeans ah, continent wide. a certain countries are going to be worse off because of the hard line that they're very much taking with russia other countries that have gotten a little bit more flexibility with respect taking in russian natural gas are going to keep going to be hit less hard, but nevertheless, it is going to be a winter full of pain. for many europeans they will see double is how triple the price of heating and the issue of the basic issue or the primary issue, may not even be cost. it may be rationing. there may not be enough natural gas to go around and i think governments are not going to be silly enough

to make natural gas available to the highest bidder. i think they will go ahead and ration it if they get to the point where they know that for certain there's not gonna be enough natural gas to go around. so it is likely shaking up, shaping up right now to be a very difficult period of time for europeans continent wide. and i think certainly there could be surprises, could be a milder winter. it could be, ah, you know, some more natural gas available from places that were in anticipated. but for right now it looks like it's going to be a tough time. and now cold prices are soaring and global coal consumption is expected to return to record levels as the global energy crunch continues based on current economic and market trends, global coal consumption is forecasted to rise by point 7 percent in 2022 to 8000000000 tons, so are we moving backwards from this green energy agenda,

or is all of that now on the back burner? so we are in the midst of a somewhat of a perfect storm that certainly wasn't predicted what, what i mean by that is, 1st of all, global growth has continued. we may be in a recession, world wide right now, but in terms of just overall energy consumption, we've been headed higher. that hasn't taken a pull back, except for us pause during the coven locked downs, but nevertheless, overall global consumption is rising. so even without a bunch of the changes that i'll talk that in the 2nd, we're going to see higher demand no matter what. and we haven't seen investment in energy, specifically fossil fuels for quite some time. for 2 reasons. first, the wall,

ah, governments and government controlled energy companies from governments that are very environmentally focus, have somewhat prohibited or inhibited the investment of fossil fuel production over the past number of years. so we haven't seen production output rise. in addition, the public companies or those companies that are owned by shareholders like the shell and exxon and chevron, have seen shareholders pressing them out for 2 things. first of all, more environmentally conscious investing in the business. and secondly, not as much investment in increasing production, but with profits to go ahead and return those profits to shareholders in the form of dividends or stock by backs. so we haven't seen production go up, but yet, consumption worldwide has continued to go up layer on top of that. now,

the environmental concerns world wide where governments are essential, paying either businesses or consumers to go ahead and either produce respectively or consume more green energy, solar, wind, hydro power, and so forth, rather than fossil fuel related energy sources. and so therefore, you now have a real perfect storm. and so when we do, we being the world run out of energy availability, certainly from higher costing resources like environmentally friendly, wind and solar and so forth. the reversion back is going to be to dirtier and even in the case of coal, the most dirty of fossil fuels. and i don't expect that to stop any time soon

unless we have either a, a very broad and deep recession, whereby energy consumption comes down for a while or b. if there is a boost in energy production. from where we sit right now, it doesn't seem like there's enough money going into energy production to really go ahead and scale. and in the supply side of the equation. how are europe and citizens now dealing with the rising cost of energy on top of the general inflation that is now affecting food and living costs? currently, the inflation is almost at 9 percent in the u. so i think the, the lowest earning portion of society is struggling incredibly with inflation because inflation hits all. busy parts of the market, not only discretionary goods and services,

but necessary and fundamental goods and services as well, like energy and food. and so that much less discretionary income if any at all. i may need to go ahead and cut back on even necessities. and that becomes difficult, and therefore that's when you find that larger portions of the population fall into poverty. right now, unemployment is at record lows, i think, all around the world. and so it's not about people not having jobs. it's them not earning enough at those jobs in order to go ahead and pay for the necessities of life. and if inflation terms of prices of necessities is out casing wage inflation, you will have increasing more people falling into poverty. and then the knock on effect of that unfortunately is you end up having

a greater and greater divide between the lower end of the socio economic part of the population. and the higher end in a way, you know, the divide between the impoverished and the wealthy becomes a greater and greater amount because of that pricing pressure that the lower end has to go ahead and deal with in terms of the inflation and necessities. how law is the energy market expected to remain tight like this? and how is this expected to be resolved? europe is different than the united states. we haven't seen here in the u. s. for an incredible spike in the same and measure as europe pacin. and we've seen gasoline prices, as matter of fact, recently come down substantially. and so energy is not really the forefront of every body's concern here in the u. s. in terms of europe,

i think it is quite different. and i think, particularly in terms of natural gas, it is quite different because a russia is so important to many countries in europe and european union. and secondly, natural gas on like gasoline is not easily transportable. and so, unless you have a pipeline already existing or you have a location plant already existing, the ability to go ahead and shift and import sources is not very easy. and therefore, the crunch or the squeeze is likely to go ahead and remain longer a, in europe and b when it comes to natural gas versus gasoline. and in terms of specifically, how long this last actually think that this is a paradigm shift. unless there's a resolution with russia, i don't think that this is changing. everybody should get used to these new prices

. and the fact that inflation with respect to energy prices is here to stay. and now why is nuclear not really talked about much any more in terms of finding alternative energy sources? isn't it one of the most efficient sources? for sure nuclear is an option. it's not an option that politicians like to talk about. there's 2 reasons. one is cost, they are very, very, very expensive to go ahead and construct. but the 2nd thing, which is even worse, is the risks associated with any sort of you know, catastrophe that can happen with respect to nuclear power plant. nuclear power plant meltdown is certainly much scarier and much more dangerous than an oil spill or natural gas pipeline leak. so, this is something that, you know, has been,

i'd say more so acceptable in europe because of the lack of turner. it is as close to united states here in the u. s. we have not been instructed in nuclear power plant in quite long time, but in europe is much more acceptable. but nevertheless, it is still something that politicians don't like to necessarily talk about because people that live in the vicinity of those nuclear power plants are, are very much alarmed by the potential risk. david, how all founder of pro chain capital. thank you so much for your time today. ah, ah. now let's take a look at the cost of winter and what is the average cause consumers will be facing during these cold months. u. k. households have been warned that they could face a fresh cost of living crisis with the annual energy bill set to hit an excess of

$3600.00 pounds us winter. this is hundreds of pounds more than previous predictions. and given the current levels of wholesale price, analysts believe that there is little sign that it will abate before 2024. and in germany, customers with an annual gas bill of $1500.00 euros. today we'll see this figure shoot up to 4500 euros. and even more in the future as exchange prices have increased 7 folds. in some cases. in asia, china's efforts to secure energy supplies have achieved initial results, but production must be ramped up to ensure a power capacity ahead of winter. china has introduced a series of policies to lower energy prices and ramp up cold production to reassure companies and the public. meanwhile, electricity prices for coal power are allowed to rise 20 percent against the benchmark price. but in reality, the prices has search to the highest ceiling in many provinces and australia.

electricity prices went up a 141 percent compared to last year, while the australian government urge citizens to cut down on energy usage. and over in south africa, the government authorized the power utility company as com, to raise electricity prices by almost 10 percent till 2023. on the other hand, asia is not afraid of winter. countries like china, south korea and russia are tackling in the cold months by building power plants and gas pipelines. well have more after the break with ah, ah

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a read for a while. we have which are ours, we make, you know, let you tell you. you care about me if you care about to play. i wish somebody could just tell me why they're here or lynching, beating poverty. why supremacy is the disgusting ambulance? the people in mississippi voted on a wire and 65 percent of the people voted to keep the current fly. our purpose is to plan a good name and get better. tell because of these monuments that you see everywhere are not, can they not monuments to the can better go their monuments to the, to the soldiers, to the data. you know, if we're going to be offended by everything, every negative part of our history, we have to get rid of everything. a

blue welcome back to the cost of everything where today we're talking about the cost of winter at energy prices are storing. but not every country will pay that same cost. china and russia are also in the final stages of building their 1st pipeline that can send gas from siberia to shanghai. this project done, the power of the area began delivering natural gas to northern china in december of 20. 19. after working on it for 8 years, china is looking to diversify. energy sources. as the country mainly still relies on crude oil. china and russia have expanded their annual gas purchase agreement by 10000000000 cubic meters and have discussed building additional pipelines and in line with this diversification goal. both china and russia are also collaborating

and exploring the advantages of nuclear power. as a joint statement between the 2 nation said, friendship between the 2 states has no limits. there are no forbidden areas of cooperation. strengthening of bilateral strategic cooperation is neither aimed against 3rd countries, nor affected by the changing international environment and circumstantial changes in 3rd countries. this pipeline will be a complete game changer for the region solidifying their mutual economic interests . as gas delivered by pipeline will be substantially cheaper thing gas delivered via l n. g. and in recent months, china has begun by more russian coal, which is now being sold at a discount on the world marketplace as many other countries plan sanctions on the commodity. and once again, china is there to take the advantage of this good deal in order to strengthen the countries energy reserves. but what about diesel?

diesel can help to heat homes during the winter, and asia has become a big export of diesel to europe as it looks to reduce its russian exposure. india and chinese refineries which normally export diesel to europe are on course to export $1600000.00 barrels per day of diesel in september. that's $1400000000.00 barrels per day last month. and the highest since 2019. so it looks by europeans, our stock piling diesel as it pulls back on his purchases from russia. let's bring in serina wong, who joins us here from singapore. she's the head of a pack analytics board tech. sir. serena has asia always been a big diesel exporter to europe, or is this the current situation with crane and russia that's prompted the shift asia, let me know either way or you,

you're in the majority of the diesel, really from russia. now if you look at it, it makes sense because they don't even watch close to your asia. so that makes a little more attractive. economy perspective is asia now. ready the russian green country, what did you think is that russia or continue to go to was at the level that it's very much vision, fear it because you will be with you will be doing was coming from russia and you know, for a very healthy important you don't barrows, but i believe that the dynamic is going to change your, specially in the monster when you've been on a russian all in the biggest, you know, you've been treated in order for countries which is nice. asia,

what we believe right? we need and we need to know that no one countries unable to please. all right. so what that means is that you would have to get people's lives for several countries to have a cookie replacement. all right, and i see is asia prepared for the winter? they're not necessarily known for a green agenda like europe. so i think that because the market is not able to predict, right. and your will have a better idea of prediction or probably not even countries heavily on natural culture. really starting to

change the very do the job and the good, the expected, you know, competition, natural gas competition for cold bo, especially the reason. so there will be to ensure that even if there's a, b o, b really handle. now the thing now some of the other countries i'm thinking all the stuffing which has been, i don't know who want any power shobit, you know, and this is really interesting because actually shouldn't be going to be the model your money. again, the idea of having ration wrong actually and stuff become more new generation get energy mix.

so now money, i'll say that not usually they're leaving new york. and do you think asian countries like china, india are exporting diesel, but at the same time cutting down on domestic production and consumption? or are they being co? where's? because this is the new green trends now? yes. so china and yeah, interesting country so well 11 i'm trying to think you might really being open disruptions to biking, just based maestro manufacturing. i have very much as a result. but the thing that the government is actually jumping reduction in company emissions and is doing little more rationalizing the refining industries and to doing implementing measures for just restricting the order

or cutting back on the line. so perspective, yeah, it is true that com and just looking to was using domestic production all the, all in china up until sufficient to meet the domestic market. so now, just in case you get the magic mark, what you don't have to be covered very, especially with history. and you see that is now being talked about. and although in the read 181 within the, within the country has hi warren. even the mom within the country, well we bought in the 4th quarter, especially like to do my think

production either the production in the very healthy refining wrapping up that refinery. we finally running the cost of every margins and i believe continuing and as you continue to write the law is going to continue to wrap up every time you're such an interesting topic. thank you so much serena, while for joining us today i when it comes to the cost of winter, there are winners and losers. well, clearly energy is the dominant theme as that is the commodity that powers the growth of nations. so while the entire energy sector is winning, there is one that is making somewhat of a big come back. and that is nuclear. in germany,

the countries 3 remaining nuclear power plants are scheduled to shut down at the end of 2022. the grand finale of a decade long plan to end the use of atomic power in the wake of the fukushima disaster. but now, driven by the shortage that is facing opposition against nuclear is softening. recently, green politicians have signaled that they are prepared to keep nuclear power plants running for a few months longer stretching the remaining fuel supply into spring to keep the lights on. there are concerns about safety when it comes to nuclear. but let's be honest for europeans, heating their homes with coal and wood. those alternatives are much safer. bernice solid fuels indoors is dangerous because it creates particulate matter small enough to get way down deep into people's lungs and even their bloodstream without being rejected by the body. and the build up of the particulate can cause inflammation as my low birth weight. pneumonia, cataracts, heart disease,

and even lung cancer. so given this predicament is human life and health, the real cost, a refusing oil and natural gas as heating sources. this idea of people burning wood and enclosed areas will cost lives in the short and long term. thank you for watching. i'm christy i and i'll see you next time. ah ah. only 41 percent of us adults have enough savings to cover a $1000.00 emergency. we have record numbers of americans who are on the verge of having their cars repossess more than a 137000000 americans are facing financial hardship because of medical debt. in america. we do have a well 1st system in place to help people who are struggling financially, but it's

a conditional system. you have to prove to the government that you truly need help . the simplest way, like explain a basic income, is that it's like social security for the rest of us. a basic income would be a monthly payments that would go to everyone. just a $1000.00 a month, no strings attached. i haven't, i will. i mean, i don't know, i just won't go crazy. the reason that i am a fan of guaranteed income because it is this idea that everybody is deserve it and just bad virtue of your being here. oh, when i was sure seemed wrong when all proofs just don't hold any you will have to fill out disdain becomes the advocate and engagement equals the trail. when so many find themselves will support we

choose to look for common ground. oh, well, never be a victory for russia wait solutions, you will still wait unless you really need not done, but you look at a meal. crane war is a proxy war. this is a war between russia and the united states. naz on on media comes to not should get done in carbon dioxide. america forces are and you're not in your gauging conflict of russian forces. the american forces are here and defend nato allies. what happens that nato escalates even more than the special military operation become a war with says that wasn't national and that'll that doesn't is my store. i see it . i see you at the us. thank you. costliest. gotta really live. so you story. he

should, unique, and he's dealt with most of them. let's see where you live at home is still foolish. there in your sewage, nero's hickerson co mm . we don't recall a similar reaction in the west. in 2015 when residence of crimea were left without water and electricity due to ukraine's actions. bosco head salts as well. it calls western hypocrisy of the un security council. that's in response to an emergency session over russian strikes on ukraine's critical infrastructure. that's 5 russian prisoners of war are released often negotiations with the f t. his some of the harrowing stories in the continuum of the some of us were forced to walk and crawl after being shot in the knees. they brought one guy to the camp. a man.