Natural Gas Soars 700%, Becoming Driving Force in the New Cold War

Shortages of the fuel are rippling throughout the global economy, threatening recessions and a further wave of inflation.

A gas burner
Gas heats many homes and used used to generate electricity. The Polar Vortex sent prices soaring.

A global shortage of natural gas has sent shock waves thought he system, driving prices up 700 percent and threatening what Germany says could be “a Lehman Brothers-like collapse.”

This is the 1970s for natural gas,” says Kevin Book, managing director at ClearView Energy Partners LLC, a Washington-based research firm. “The world is now thinking about gas as it once thought about oil, and the essential role that gas plays in modern economies and the need for secure and diverse supply have become very visible.”

If you think everything is going to be alright, a careful ready of this article may disabuse you of that notion. The lack of natural gas will bring Europe to its knees, which will have global consequences.

Published on 7/5/2022. Read the full article.