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Coal comeback? Russia could force Europe’s hand

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Europe’s biggest Russian gas buyers were racing to find alternative fuel supplies on Monday and even looking at burning more coal to cope with reduced gas flows from Russia that threaten an energy crisis in winter if stores are not refilled

Europe biggest buyers of Russian gas are racing to find alternative fuel supplies, and some may even turn back to coal.

With Europe and Russia at odds over the Ukraine war, some European leaders face the threat of an energy crisis this winter if gas stores are not refilled.

Italy’s Eni said it was told by Russia’s Gazprom it would receive only part of its request for gas supplies Monday (June 20).

That has pushed the country closer to declaring a state of alert which could lead to gas saving measures.

Germany has also faced lower Russian flows.

The country announced Sunday (June 19) it planned to boost gas storage levels.

It even said it could restart coal-fired power plants it had aimed to phase out.

Economy Minister Robert Habeck called the measure ‘painful’ but a ‘sheer necessity’.

Otherwise, he said, Germany could be ‘blackmailable’ at a political level.

Habeck is a member of the Green Party that has pushed a for a quicker exit from coal – which produces more greenhouse gases.

Russian gas flows to Germany through the Nord Steam 1 pipeline were still running at about 40% of capacity Monday.

Russia’s state-controlled Gazprom last week cut throughput along Nord Stream 1 – which is the main route supplying Europe’s largest economy.

It blamed the apparent return of equipment being serviced by Germany’s Siemens Energy.

But German and Italian officials have said Russia was using that as an excuse to reduce supplies.

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The mounting pressure on Government spends

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Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending

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Will Australia’s foreign investment rule create an economic boost?

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Australian Treasurer Dr. Jim Chalmers announced an overall of foreign investment rules ahead of the budget.

Australia is set to announce a significant decline in its projected gross debt, signalling a more optimistic outlook for the country’s fiscal health.

The Airport Economist, Professor Tim Harcourt at UTS joins to discuss.

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Research key to investment success

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What is the importance of research in the investing and super landscape in Australia?

Wyld Money dives into the world of financial freedom. Whether you’re a seasoned investor or just getting started, join us for actionable tips and tricks to unlock your earning potential, and retire on your own terms.

In this episode, Mark is joined by Peter Green, Director of Research at Lonsec Research. #wyld money

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