Biden has made it absolutely clear that he wants to make the oil, coal and natural gas industries disappear even though he knows it will be economically disastrous for the nation, and dare I hope, politically disastrous to the Democrat Party.
The left is not telling you the truth about the extremely serious problem we could potentially face this winter. Blackouts and power outages are already happening all over the planet and energy prices are spiking at breathtaking pace. With summer barely over and the global energy supply getting tighter what is the world going to look like in January or February?
All over the US, gas prices are going through the roof. A recent study released by JPMorgan warned that the crude oil hub in Oklahoma could be out of supply in just a few weeks. Natasha Kaneva of JPMorgan write that “in a world of pervasive natural gas and coal shortages, which is forcing the power sector to turn to oil, oil reserves in Cushing, which has dropped to the lowest level since 2018, is just weeks from being completely out of crude.” Just image what that is going to do gas prices in the months ahead!
To make things worse, Edgar Ang, a HIS Market analyst, recently told Bloomberg that the propane market could be in total chaos this winter since stockpiles may have already topped out for the year and could be stretched thin by early 2022. US households that heat primarily with propane will spend anywhere from 54% to 94% more if we have a really cold winter.
According to the Energy Department, “nearly half of US households that heat primarily with natural gas will spend 30% more this year than last on average and 50% more if this winter is colder than average.” Households that heat primarily with electricity, will spend anywhere from 6% to 15% more; and households that heat primarily with heating oil will spend from 43% to 59% more if temperatures drop more than usual.
On the other side of the globe, dwindling natural gas supplies have already become a huge problem. According to Global News, in several countries in Europe and Asia, natural gas prices have more than tripled this year, which is forcing manufacturers to either shut down or slow down activity from Spain to Britain to China. In addition to a shortage of natural gas, China is also struggling with an acute coal shortage, which is contributing to the immense economic distress the country is facing at the moment. It also means that all the goods we import will become significantly more expensive.
One of today’s most unreported news stories is the high energy costs that are threating both Britain and Europe. British manufacturing leaders fear an industrial collapse over the winter as spiraling gas and electricity prices overwhelm the country’s energy defenses.
Gas prices in Britain have already hit record highs because of the fear of energy shortages this winter. CF Industries, an American manufacturer of agricultural fertilizers announced that it was halting operations at 4 sites throughout Britain due to the high cost of gas. This leaves a shortage of carbon dioxide, a byproduct of fertilizer manufacturing that is critical to the production and transportation of a range of products, from meat to bread, from beer to fizzy drinks.
Nick Allen, chief executive of the British Meat Processors Association warned that the C02 shortage may cause them to cut back on the range of products on supermarket shelves in the run-up to Christmas because farmers had been unable to send their herds to slaughter. He also warned that low gas reserves leaves Britain reliant on cross-channel interconnectors that may be curtailed if Europe faces power blackouts and serious industrial stoppages.
Europe is facing its own problems. The Norwegian fertilizer group Yara is curtailing output of ammonia, which relies on gas as a feedstock which will cause problems across the Continent as far as Ukraine, causing producers to switch to the US wherever possible. Abundant shale gas in Texas, Pennsylvania, and the Dakotas’ means that locally consumed US gas costs a quarter of European levels. At least it did before Biden!
It is somewhat fitting that the current crisis began in Europe when the wind stopped blowing in the North Sea, leading to a spike in demand for natural gas. But the problem is inherent: wind turbines and solar panels cannot fuel the world. The delusion that they can do so has led most European countries to fail to provide adequate dispatchable sources of power: nuclear, hydroelectric, coal and natural gas.
The enormous amounts of energy packed into coal, oil, natural gas and nuclear fuels created the wealth, and powered the wondrous technologies that gave us the greatest advantages mankind has ever enjoyed; the power to survive, adapt and deal with whatever changes we face.
This is just the beginning. Energy shortages aren’t something we have to wait for, they are already here, due to the far left’s green agenda and the world is about to feel the pain. Hang on to your hats, it’s about to get really crazy out there.
Source: Will “Green” Energy Destroy Europe? By The Spectator; Brace For Shortages Of Oil, Natural Gas, Propane & Coal: It’s Only Going To Get Worse, Economic Crisis Report; How Electricity Becomes A Luxury, Franklin County Patriots.