Remember last month when we told you Deutsche Bank was predicting that Germans might have to stock up on firewood in order to stay warm this winter because of their reliance on Russian energy?
Well, it looks like that's starting to settle in with your everyday German.
Cuz check this out:
Not good!
Here's the gist of what Deutsche Bank had to say last month:
When DB contemplates possible "substitution for gas" by other energy sources - the bank lists hard coal and lignite in the power sector, as for private households, it predicts that "wood will be used for heating purposes where possible," while industries will switch to oil derivatives, all of which contributes to lower gas demand.
And now today it looks like Germans are in a sort of panic when it comes to firewood.
It is no surprise that Deutsche Bank's morbid forecast is gradually coming true and as Bloomberg's Javier Blas shows in his "chart of the day", that google searches for fireword ("Brennholz") have exploded in the past couple of months now that electricity is no longer a staple, but a luxury few can afford.
Here's that chart for you:
Yeah, I'd say we wanna go ahead and throw some prayers up to the Germans on this one.
It looks like they need it.
Hopefully winter goes easy on us.
Last thing...
I was going to leave this out but I can't:
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