Peter Adrian, head of the Association of German Chambers of Industry and Commerce (DIHK), is reportedly coming to grips with the fac…
Peter Adrian, head of the Association of German Chambers of Industry and Commerce (DIHK), is reportedly coming to grips with the fact that Germany will collapse without Russian energy.
It was all fun and games poking the Russian bear for political points. But now that the Nord Stream 1 (NS1) pipeline has been turned off and hyperinflation looms, the only thing Germany has to look forward to is racing straight to the bottom.
“More and more companies are telling us that they no longer have a supply contract for electricity or gas at all,” Adrian told RND newsroom. “The tap is turned off in the truest sense of the word. But without energy, no economy can run.”
One such company is Hakle, a toilet paper company that recently filed for bankruptcy citing unsustainable energy and material costs. The steel and non-ferrous metals industries are also on the verge of a collapse, requiring cheap and abundant natural gas in order to maintain production.
“Other sectors, such as chemical production, agriculture, and automating are all facing unprecedented hurdles as the energy crisis continues to grip Europe,” reports REMIX.