Initially of the pandemic, vitality costs crashed. We did an episode of this present attempting to determine how oil costs fell to detrimental $40 per barrel.
Occasions have modified. Oil is up over $100/barrel. However much more acute is what’s occurring with pure gasoline, notably in Europe and Asia. Within the US, pure gasoline costs have doubled within the final 12 months. However in components of Europe, the value has risen greater than 5 instances.
The disruptions are clear. We’re seeing tales of energy shortages in China, fertilizer crops being shut down within the UK, and fears about dwelling heating prices within the Northeast US as winter approaches.
So what the heck is happening? How lengthy may it final? And what does it inform us concerning the future?
To reply these questions Shayle turns to Leslie Palti-Guzman, the President of Fuel Vista and a non-resident fellow at NYU SPS Middle for International Affairs.
Shayle and Leslie cowl the various demand-side and supply-side points. Then they speak about what comes subsequent: What does this disaster reveal concerning the vulnerability of the vitality system? And can international locations double down on renewables, gasoline, or each to shore up their resiliency?
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