by Maddog » Tue Oct 19, 2021 4:04 pm
Europe's gas shortage could make the whole world pay more to get warm this winter
"People are starting to throw the 'crisis' word around" when it comes to Europe, said John Kilduff, partner with Again Capital. He said natural gas in storage in Europe is 16% below the five-year average, and the level in storage is a record low for September.
"Europe is squarely behind the eight ball going into the winter season. It's going to put the focus on this commodity that's been overlooked for the last several years," said Kilduff.
The tipping point could come in several months when it becomes clear what type of winter is ahead for Europe, and also the U.S. Some analysts say in an extreme scenario, U.S. prices could double if there is an extended cold spell, particularly in Europe where shortages could get severe.
https://www.cnbc.com/2021/09/13/europes ... inter.htmlIt's a shame that Europe is so far away. I know a state that is sitting on 142 bazillion, gazillion tons of this stuff.
Europe's gas shortage could make the whole world pay more to get warm this winter
"People are starting to throw the 'crisis' word around" when it comes to Europe, said John Kilduff, partner with Again Capital. He said natural gas in storage in Europe is 16% below the five-year average, and the level in storage is a record low for September.
"Europe is squarely behind the eight ball going into the winter season. It's going to put the focus on this commodity that's been overlooked for the last several years," said Kilduff.
The tipping point could come in several months when it becomes clear what type of winter is ahead for Europe, and also the U.S. Some analysts say in an extreme scenario, U.S. prices could double if there is an extended cold spell, particularly in Europe where shortages could get severe.
https://www.cnbc.com/2021/09/13/europes-gas-shortage-could-make-the-whole-world-pay-more-to-get-warm-this-winter.html
It's a shame that Europe is so far away. I know a state that is sitting on 142 bazillion, gazillion tons of this stuff.
