Sangster FL class, March 22, 2022

 March 22, 2022

- World of money and investment

- war is really bad for everyone, but there is a war in Ukraine right now

 

- Most countries in the world (Canada, US, EU) stop buying Russian goods

- many companies stop their operations in Russia

- International banks and governments freeze wealthy Russian bank accounts

- a few countries have not participated against Russia (China, India, Cuba, Venezuela, Syria)

 

- Russia: #1 exporter of wheat and nickel

Ukraine: #3 exporter of wheat

- food prices around the world will go higher (flour, grains, pasta, bread), >10% 

- a family of four in Canada will have to pay an extra $100 per month for the same amount of food

 

- energy prices will stay high for at least another year (because the world don’t allow Russia to export its oil/nat gas)

 

- Germany’s mistakes:

1) shut down all coal-fire generators five years ago (to generate electricity). To reduce pollution

2) will shut down all nuclear reactors this year (to prevent nuclear accidents). Nuclear power generates a lot of electricity

[homework: count how many chargeable devices you have at home. Kwok has 26]

1)    The original plan was to generate all electricity with green energy (wind, solar, tidal wave, biomass, geothermal). It will generate only 35% of all the electricity needed in Germany

2)    Another greener plan is to generate electricity with natural gas (Germany buys natural gas from Russia)

3)    Germany is stuck! Not enough electricity if they stop buying nat gas from Russia

4)    The plan right now is to restart the nuclear plants to generate enough electricity for now

5)    Demand for natural gas will not be as high because of the warmer weather