Joe Wallace of The Wall Street Journal reports on the energy crisis in Europe.
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- Colder weather and the fear of Russia invading the Ukraine are driving up energy costs in Europe.
- The rising cost of energy is furthering inflation and hamstringing economic growth.
- Europe’s energy crisis shows how important it is for the United States to retain energy independence.
- Energy independence, which is best achieved through an “all of the above” energy strategy, benefits consumers, the environment, and our national security.
“Benchmark European gas prices are more than seven times as high as a year ago at 127.77 euros ($144) a megawatt-hour, having jumped by more than a quarter over the past week. In a sign that traders expect the shortfall to last for months, prices for contracts that expire deep into 2022 have shot up alongside those that require imminent delivery of gas.Futures curve for natural gas in Europe at different dates.”
Read the full article here.
The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.
