The global energy crisis is affecting families and producers who are already struggling to recover from the global epidemic.
Why is it important? This is a perfect storm of crises. Supply shortages, especially from China; Inflation; Slow growth; Lack of energy; Russia’s geopolitical muscles continue to swell and the world is on the verge of collapse.
News rotation; Climate-related issues (mostly climate change), unforeseen demand and planned disruptions have pushed up natural gas and coal prices.
- Chinese Power shortages shut down high-tech manufacturing centers.
- India It is far from being able to bring new energy sources online.
- In the United Kingdom, The rise in natural gas prices has left many companies in a state of turmoil, with the European Union (EU) reminding Vladimir Putin of Russia’s unsatisfactory demand for energy.
Large image: Inflation is bad, but energy-inflation is terrible. It hurts the very poor and threatens the memory of the 1970s inflation combined with the rise of anemia.
- Global Power Transfer It is in good condition for renewable goods, but it did not come soon.
- “Pressures on the power system They will not return in the next decade, ”the International Energy Agency said in a final statement on Wednesday.
Numeral- Demand for coal worldwide is far greater than supply. On October 5, the Niamex exchange reached $ 274 a ton. A year ago it was $ 57.
- Between early May and early October, European natural gas prices rose by about 500% before falling slightly.
What’s next? The United Nations Climate Change Conference in Glasgow begins on October 31.
- This crisis China and India may soon be unwilling to suspend coal production. The problem now is that they need all the energy they can get, regardless of the source.
The main point is: The world’s growth depends on fossil fuels. The problem is not just between generations. They are here, right now.