How to keep gasoline prices low by bombing your gas station
An Italian fighter plane (note the “fasci” symbols on the wings) shot down in England in November 1940 during the bombing campaign mounted by the Italian Air Force during WW2 (source). Sending obsolete biplanes with open cockpits against the modern British Spitfires is one of the most glaring examples of military incompetence in history. Among other things, this old tragedy may give us hints about the current situation in the world and, in particular, why the consumers of fossil fuels tend to bomb their suppliers.
Not everyone in Europe has understood exactly what is happening with gas prices, yet, but the consequences could be heavy. For a brief moment, prices rose of a factor ten over what was considered as “normal.” Then, prices subsided, but still remain way higher than before. That is directly reflected on electricity prices and that is not only traumatic for consumers, but also on the competitivity of the European industry.So, what’s happening? As usual, interpretations are flying free in the memesphere: those evil Russians, the conspiracy of the Americans, it is all a fault of those ugly Greens who don’t want nuclear energy, the financial lobby conspiring against the people, etcetera.
Let me try an approach a little different. Let me compare the current situation with that of the 1930s in Europe. Back then, fossil fuels were already fundamental for the functioning of the economy, but coal was the truly critical resource: not for nothing it was called “King Coal.”
The coal revolution had started to appear in Europe in the 19th century. Those countries that had large coal reserves England, Germany, and France, could start their industrial revolution…
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