A very predictable global energy crisis

OilPrice.com/Irina Slav

Repost from 10-12-2021

“Gas prices in Europe are breaking record after record. The UK is facing supply shortages reminiscent of the late 1970s winter of discontent. Chinese factories are shutting down because of power shortages, and the outlook is grim. In fact, it may be the first crisis of many.”

USAGOLD note: Predictable? Yes. The ramifications, though, are yet to be determined This article quotes long-term oil market expert Daniel Yergin as saying “It is a cautionary message about how complex the energy transition is going to be.” This article covers the origins and extent of the developing energy crisis as well as what is likely to sustain it.

Coal, natural gas, crude oil
(One year, % gain)

overlay line chart showing coal, oil, nat gas prices one year 10-21
Chart courtesy of TradingEconomics.com • • • Click to enlarge

 

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