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The 1970s Again?
The 1970s Again? For the United States and much of the rest of the world, the 1970s were a time of high oil prices, surging inflation, stock market swoons, political upheaval, and geopolitical tension. Add pandemic and climate change to the list, and it also sounds like a fair description of the world today, a […]
Australia’s Energy Crisis Worsens As Gov’t Ask People To Keep Lights Off To Avert Blackouts
Australia’s Energy Crisis Worsens As Gov’t Ask People To Keep Lights Off To Avert Blackouts Australia’s energy minister asked Sydney and the New South Wales (eastern part of the country) residents to turn off lights and energy-intensive appliances in the evening to prevent power blackouts due to an ongoing energy crunch, The Independent reports. The federal energy […]
IEA: Current Energy Crisis Is “Much Bigger” Than 1970s Oil Crunch
IEA: Current Energy Crisis Is “Much Bigger” Than 1970s Oil Crunch IEA Chief Birol: The world faces a “much bigger” energy crisis than the one of the 1970s. Back in the 1970s, the crisis was just about oil. Birol: The world, especially Europe, could face a summer of shortages of gasoline, fuel, and jet fuel. […]
It’s Not Just High Oil Prices. It’s a Full-Blown Energy Crisis.
It’s Not Just High Oil Prices. It’s a Full-Blown Energy Crisis. In Peru, protests that began in March against rising fuel and fertilizer costs spread throughout the country.Credit…Sebastian Castaneda/Reuters Americans are worrying about their gas prices. Germans are turning down their heating. Peru has seen violent protests — and a violent crackdown on them — over […]
EU Considers Massive 100 Billion Euro Energy Relief Fund For Companies
EU Considers Massive 100 Billion Euro Energy Relief Fund For Companies Europe faces an unprecedented energy crisis that requires extraordinary policy action, such as a possible 100 billion in relief funds to businesses hit the hardest by soaring energy prices. Bloomberg cites MF daily that said the European Union on Wednesday is considering a massive 100 […]
Food shortages as the energy crisis grows and supply chains break?
Food shortages as the energy crisis grows and supply chains break? Preface. This is a long preface followed by two articles about how supply chains and complex tractors may be affected by energy shortages and consequent supply chain failures in the future.Which we’re already seeing as massive numbers of ships sit offshore waiting to be […]
European NatGas Jumps 64% As Chance Of Russian Energy Ban Ignites Mayhem
European NatGas Jumps 64% As Chance Of Russian Energy Ban Ignites Mayhem European natural gas futures soared Monday after reports the Biden administration was considering curbs on Russian crude imports sent shock waves across commodity markets. Brent surged to $137/bbl and quickly pared gains to trade near $125/bbl around 0630 ET. The focus is European […]
Putin’s energy shock is becoming a world food crisis. Brace for rationing.
Putin’s energy shock is becoming a world food crisis. Brace for rationing. The world was facing a grain supply crunch even before Putin’s invasion of Ukraine. The United Nations food price index was already higher in real terms than at the height of the global hunger crisis a decade ago, when Tunisian bread protests set […]
The world could be on the brink of an energy crisis rivaling the 1970s, says IHS Markit’s Yergin
The world could be on the brink of an energy crisis rivaling the 1970s, says IHS Markit’s Yergin Russia’s Ukraine invasion could have set in motion an energy market disruption on the scale of major oil crises in the 1970s, according to Daniel Yergin, vice chairman of IHS Markit. Sanctions by the U.S. and allies […]
Days of reckoning
Days of reckoning Here’s something which will likely be universally unpopular: The government shouldn’t do anything to subsidise energy prices. I say this in the face of a £700 or so increase on annual bills announced today. And this is just the beginning, because, as Nils Pratley at the Guardian points out, when the price cap is raised again […]
Oil Is The Wrecking Ball That We All Deserve…
Oil Is The Wrecking Ball That We All Deserve… I’ve been pretty clear on why oil is going higher. If you want a refresher, click here. I’ve also been clear that when oil overshoots, it’s going to create the next Lehman moment. Oil is the wrecking ball that will crush every CUSIP, because the Fed will eventually […]
China Coal Production Hits Record To Avoid Energy Crisis
China Coal Production Hits Record To Avoid Energy Crisis Many of us in the Western world are spending the most ever on electricity bills, forced to eat fake meat, and paying a lot more in taxes for green initiatives. At the same time, China ignores the green revolution by ramping up record coal production in […]
UK energy crisis is a fossil fuel crisis – and gas is the villain
UK energy crisis is a fossil fuel crisis – and gas is the villain New analysis by energy think tank Ember reveals that the skyrocketing price of fossil gas was responsible for 85% of the increase in UK wholesale electricity prices in 2021. In just one year, wholesale electricity prices quadrupled and it became almost five […]
Life After Fossil Fuels | Alice Friedemann
Life After Fossil Fuels | Alice Friedemann And why the climate change conversation isn’t helping A post-carbon world could be our opportunity to so better—and make the difficult transition much harder to swallow. That’s the message of Alice Friedemann on this week’s episode, author of When Trucks Stop Running: Energy and the Future of Transportation. The […]
