{"id":62524,"date":"2022-04-24T07:38:51","date_gmt":"2022-04-24T12:38:51","guid":{"rendered":"https:\/\/olduvai.ca\/?p=62524"},"modified":"2022-04-24T07:38:51","modified_gmt":"2022-04-24T12:38:51","slug":"its-not-just-high-oil-prices-its-a-full-blown-energy-crisis","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=62524","title":{"rendered":"It\u2019s Not Just High Oil Prices. It\u2019s a Full-Blown Energy Crisis."},"content":{"rendered":"<header class=\"css-476lxg euiyums1\">\n<div class=\"css-1vkm6nb ehdk2mb0\">\n<h3 id=\"link-4a424365\" class=\"css-15m43iq e1h9rw200\" data-testid=\"headline\"><a href=\"https:\/\/www.nytimes.com\/2022\/04\/23\/opinion\/oil-gas-energy-prices-russia-ukraine.html?fbclid=IwAR20d1rIXBKqSc88ZQI92CEzInaGv4O0qMigPvWF9HrFgV7Hx_8yyZ2gX34\">It\u2019s Not Just High Oil Prices. It\u2019s a Full-Blown Energy Crisis.<\/a><\/h3>\n<\/div>\n<div class=\"css-79elbk\" data-testid=\"photoviewer-wrapper\">\n<div class=\"css-1a48zt4 e11si9ry5\" data-testid=\"photoviewer-children\">\n<figure class=\"sizeMedium layoutHorizontal css-1a1lp8y\" role=\"group\" aria-label=\"media\">\n<div class=\"css-bsn42l\"><picture><source srcset=\"https:\/\/static01.nyt.com\/images\/2022\/04\/23\/opinion\/23thompson\/23thompson-mobileMasterAt3x.jpg?quality=75&amp;auto=webp&amp;disable=upscale&amp;width=600\" media=\"(max-width: 599px) and (min-device-pixel-ratio: 3),(max-width: 599px) and (-webkit-min-device-pixel-ratio: 3),(max-width: 599px) and (min-resolution: 3dppx),(max-width: 599px) and (min-resolution: 288dpi)\" \/><source srcset=\"https:\/\/static01.nyt.com\/images\/2022\/04\/23\/opinion\/23thompson\/23thompson-mobileMasterAt3x.jpg?quality=75&amp;auto=webp&amp;disable=upscale&amp;width=1200\" media=\"(max-width: 599px) and (min-device-pixel-ratio: 2),(max-width: 599px) and (-webkit-min-device-pixel-ratio: 2),(max-width: 599px) and (min-resolution: 2dppx),(max-width: 599px) and (min-resolution: 192dpi)\" \/><source srcset=\"https:\/\/static01.nyt.com\/images\/2022\/04\/23\/opinion\/23thompson\/23thompson-mobileMasterAt3x.jpg?quality=75&amp;auto=webp&amp;disable=upscale&amp;width=1800\" media=\"(max-width: 599px) and (min-device-pixel-ratio: 1),(max-width: 599px) and (-webkit-min-device-pixel-ratio: 1),(max-width: 599px) and (min-resolution: 1dppx),(max-width: 599px) and (min-resolution: 96dpi)\" \/><img loading=\"lazy\" decoding=\"async\" class=\"css-rq4mmj\" src=\"https:\/\/static01.nyt.com\/images\/2022\/04\/23\/opinion\/23thompson\/merlin_205055145_93eaaceb-c80a-494c-88df-13698e85d29c-articleLarge.jpg?quality=75&amp;auto=webp&amp;disable=upscale\" sizes=\"auto, ((min-width: 600px) and (max-width: 1004px)) 84vw, (min-width: 1005px) 60vw, 100vw\" srcset=\"https:\/\/static01.nyt.com\/images\/2022\/04\/23\/opinion\/23thompson\/merlin_205055145_93eaaceb-c80a-494c-88df-13698e85d29c-articleLarge.jpg?quality=75&amp;auto=webp 600w,https:\/\/static01.nyt.com\/images\/2022\/04\/23\/opinion\/23thompson\/merlin_205055145_93eaaceb-c80a-494c-88df-13698e85d29c-jumbo.jpg?quality=75&amp;auto=webp 1024w,https:\/\/static01.nyt.com\/images\/2022\/04\/23\/opinion\/23thompson\/merlin_205055145_93eaaceb-c80a-494c-88df-13698e85d29c-superJumbo.jpg?quality=75&amp;auto=webp 2048w\" alt=\"In Peru, protests that began in March against rising fuel and fertilizer costs spread throughout the country.\" width=\"600\" height=\"400\" \/><\/picture><\/div><figcaption class=\"css-13o4bnb e1maroi60\"><span class=\"css-16f3y1r e13ogyst0\" aria-hidden=\"true\">In Peru, protests that began in March against rising fuel and fertilizer costs spread throughout the country.<\/span><span class=\"css-cnj6d5 e1z0qqy90\"><span class=\"css-1ly73wi e1tej78p0\">Credit&#8230;<\/span>Sebastian Castaneda\/Reuters<\/span><\/figcaption><\/figure>\n<\/div>\n<div class=\"css-1mnm9nl e11si9ry2\" data-testid=\"placeholder\">\n<div class=\"css-tux0zj e11si9ry3\" data-testid=\"photoviewer-overlay\">\n<div class=\"css-po2cvv e11si9ry4\"><button class=\"css-1vkv6l7 e11si9ry0\" aria-label=\"Expand image captioned In Peru, protests that began in March against rising fuel and fertilizer costs spread throughout the country.\" data-testid=\"photoviewer-expand-button\"><\/button>Americans are worrying about their gas prices. Germans are turning down their heating. Peru has seen <a class=\"css-1g7m0tk\" title=\"\" href=\"https:\/\/www.nytimes.com\/2022\/04\/05\/world\/americas\/peru-protests-emergency-curfew.html\">violent protests<\/a>\u00a0\u2014 and a violent crackdown on them \u2014 over rising fuel costs. Nigeria\u2019s national energy grid\u00a0<a class=\"css-1g7m0tk\" title=\"\" href=\"https:\/\/www.reuters.com\/world\/africa\/nigerias-electricity-grid-collapses-second-time-month-2022-04-09\/\" target=\"_blank\" rel=\"noopener noreferrer\">recently collapsed<\/a>. And that\u2019s just this spring. Focused on the future, the United Nations Intergovernmental Planet on Climate Change\u00a0<a class=\"css-1g7m0tk\" title=\"\" href=\"https:\/\/www.nytimes.com\/2022\/04\/04\/climate\/climate-change-ipcc-un.html\">warned in a report on April 4<\/a>\u00a0that too much investment is going into fossil fuels and too little into the energy transition that could prevent a devastating increase in global temperatures.<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/header>\n<section class=\"meteredContent css-1r7ky0e\">\n<div class=\"css-s99gbd StoryBodyCompanionColumn\">\n<div class=\"css-53u6y8\">\n<p class=\"css-g5piaz evys1bk0\">This persistent, simmering crisis around energy, its cost and the politics around it will not end soon.<\/p>\n<p class=\"css-g5piaz evys1bk0\">Vladimir Putin has escalated this crisis. His invasion of Ukraine has pushed up prices and forced Europe \u2014 until now the largest importer of Russian natural gas \u2014 to\u00a0<a class=\"css-1g7m0tk\" title=\"\" href=\"https:\/\/www.nytimes.com\/2022\/04\/04\/business\/russia-europe-natural-gas.html\">begin an attempt to end<\/a>\u00a0its longstanding dependence on Russian gas. But Mr. Putin didn\u2019t cause this crisis alone. For nearly a year before Russia\u2019s invasion of Ukraine, supply struggled to meet demand, causing prices to surge. For the best part of a decade, the American shale boom met the world\u2019s rising energy needs, but in 2020 shale oil output slumped and the rate of growth of shale gas fell.<\/p>\n<p>President Biden\u2019s hope that he could focus his presidency on the climate, not fixing the world\u2019s oil supply, shattered. Unable to\u00a0<a class=\"css-1g7m0tk\" title=\"\" href=\"https:\/\/www.nytimes.com\/2020\/11\/17\/world\/middleeast\/iran-biden-trump-nuclear-sanctions.html\">resurrect a nuclear deal<\/a>\u00a0with Iran that would have restored Iranian oil to world markets, Mr. Biden began last year to ask other producers to increase their output. His pressure was to no avail. Meanwhile, China\u2019s demand for gas imports\u00a0<a class=\"css-1g7m0tk\" title=\"\" href=\"https:\/\/www.spglobal.com\/commodityinsights\/en\/market-insights\/latest-news\/lng\/012022-china-data-total-natural-gas-imports-rose-20-in-2021-on-strong-energy-demand\" target=\"_blank\" rel=\"noopener noreferrer\">grew by 20 percent<\/a>\u00a0over 2021, helping push European gas prices\u00a0<a class=\"css-1g7m0tk\" title=\"\" href=\"https:\/\/www.oxfordenergy.org\/publications\/a-series-of-unfortunate-events-explaining-european-gas-prices-in-2021-the-role-of-the-traded-gas-hubs\/\" target=\"_blank\" rel=\"noopener noreferrer\">up nearly sixfold<\/a>\u00a0between March and December.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"><\/aside>\n<\/div>\n<div>\n<div id=\"story-ad-1-wrapper\" class=\"css-qlhgae\">\n<div id=\"story-ad-1-slug\" class=\"css-l9onyx\"><\/div>\n<\/div>\n<\/div>\n<div class=\"css-s99gbd StoryBodyCompanionColumn\">\n<div class=\"css-53u6y8\">\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s Not Just High Oil Prices. It\u2019s a Full-Blown Energy Crisis. In Peru, protests that began in March against rising fuel and fertilizer costs spread throughout the country.Credit&#8230;Sebastian Castaneda\/Reuters Americans are worrying about their gas prices. Germans are turning down their heating. Peru has seen violent protests\u00a0\u2014 and a violent crackdown on them \u2014 over [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[265,32861,1921,694,821,827],"class_list":["post-62524","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-energy-crisis","tag-helen-thompson","tag-new-york-times","tag-russia","tag-ukraine","tag-united-states"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62524","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=62524"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62524\/revisions"}],"predecessor-version":[{"id":62525,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62524\/revisions\/62525"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=62524"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=62524"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=62524"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}