Investment thesis: With the latest news of Russia-EU gas pipelines blowing up, there is no longer any doubt about the fact that Europe is going on a severe energy diet for the foreseeable future. The big question now is how the necessary demand destruction will play out. Germany's 200 billion euro plan to shield its own consumers from high energy prices in effect helps to shift some of the energy demand destruction that will occur in the EU to the consumers of other nations, especially the ones that are fiscally weaker.