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Re: UK Crisis: Why Are Gas Prices Surging, Leading To Massive Spike In Cost Of Energy To British Homes?
The European energy crunch is spilling over into other regions. The blame game has begun with culprits ranging from years of underinvestment in local gas production to a Gazprom scheme to get Nord Stream 2 approved by Germany. For now, it is still unclear how much of the price surge is due to a gap between demand and supply and how much of it is due to market nervousness, at least according to RBC commodity strategist Christopher Louney, as quoted by the WSJ's Lee. This question is less important than another, however, and it is a scary one:
Just how bad could things get this winter? https://oilprice.com/Energy/Energy-General/The-European-Energy-Crisis-Is-About-To-Go-Global.html