EU Wants To Cut Energy Consumption By 10%--Recession By Decree

The EU has a plan for dealing with Russia over sanctions: order Europe into a deep and lasting recession, with a permanent degradation of economic potential.

A meeting of EU energy ministers on Friday has suggested that each EU country implement strategies to reduce overall electricity consumption by a minimum of 10 percent, the Wall Street Journal has reported. 

The EU should also reduce electricity by at least 5% during peak price hours, according to a draft document seen by the WSJ. 

The EU asked its members earlier this summer to reduce gas consumption by 15% starting this fall and running through the winter. While initially a request, it left the door open for it to become mandatory should the need arise. The 15% gas cut framework could also be applied to today’s plan to cut electricity usage by 10%, the ministers said on Friday.  

Of course, a nationwide across-the-board 10% reduction in energy consumption is tantamount to a nationwide across-the-board 10% (or more) reduction in Gross Domestic Product. EU countries are essentially mandating economic recession if not outright depression in order to withstand the likely full withdrawal of Russian oil and gas from Europe.

It’s a helluva strategy: confront an adversary by blowing your own foot off.