The global power crisis could dampen hopes of climate change

Power crises around the world are hitting homes and producers who are already struggling to survive.

Why is it important? This crisis is a hurricane. Especially from China. Inflation; Delay growth; Lack of energy; Russia continues to be geopolitical and flexible and fear that the world will burn out.

Driving news; A combination of climate issues (many related to climate change), unexpected demand and planned disruptions have sent natural gas and coal prices through the roof.

  • Chinese Power shortages have already closed the doors to high-tech companies.
  • India He is in a much worse situation than he is in the ability to bring in new energy sources online.
  • In the UK, The rise in natural gas prices has left many companies on fire, prompting the European Union (EU) to recall its frustration with Vladimir Putin’s demand for energy.

Large picture: Inflation is bad, but energy inflation is bad. It hurts the very poor and inflation, coupled with the rise in anemia, threatens the memory of inflation in the 1970s.

  • World Power Transition It is doing well to renovate, but not much has come.
  • Pressures on the power system They will not regret it in the next few decades, ”the International Energy Agency said in a recent report on World Energy.

In numbers – Demand for coal worldwide is far greater than supply. On October 5, the Niamex exchange in New York reached $ 274 per tonne, up from $ 57 a year ago.

  • European natural gas prices rose by approximately 500% between early May and early October, before falling slightly.

What to say next The United Nations Climate Conference in Glasgow begins October 31.

  • This crisis In the near future, China and India may be more willing to expel coal power plants. Whatever the source of the current crisis, it shows that they need all the energy they can get.

The main point: The world is dependent on fossil fuels for growth. The problems are not limited to generations. They are here, now.

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