Europe's Energy Crisis will get worse in 2023
Posted: Wed Nov 30, 2022 1:58 pm
OilPrice.com: OECD: Energy crisis weighing heavily on global economic growth
The energy crisis in Europe is going to hit hard around the world this winter – but it will be nothing compared to next year. The recently released World Economic Outlook, the flagship annual report from the Organization of Economic Cooperation and Development (OECD) paints a grim picture for the months and years to come as the world grapples with an unfolding global crisis the likes of which we’ve never seen. It’s going to be a tough winter, with energy prices rising painfully high for consumers across the United States and Europe. Projections show that in the UK alone, 26 million people are expected to fall into energy poverty over the course of this winter – a number that amounts to one in three households.
If the U.S. doesn't move to more common-sense energy policies, we will suffer a similar fate.
The energy crisis we’re experiencing now will soon turn into an everything crisis. High natural gas prices now have led to a fertilizer shortage that will turn into a food shortage next year as we potentially stand to lose nearly 2 percent of global corn, wheat, rice, and soybean production. And high energy prices have led to serious supply chain and manufacturing issues in an untold number of sectors, from automobiles to medicines, the impact of which will take a while to reach the consumer.
Read full article: https://oilprice.com/Energy/Energy-Gene ... rowth.html
For Energy Sector Investors: Owning upstream companies that control a lot of proven reserves and plenty of "running room" within leasehold they control will be getting more valuable as we move deeper into "Climate Change Cult World".
The energy crisis in Europe is going to hit hard around the world this winter – but it will be nothing compared to next year. The recently released World Economic Outlook, the flagship annual report from the Organization of Economic Cooperation and Development (OECD) paints a grim picture for the months and years to come as the world grapples with an unfolding global crisis the likes of which we’ve never seen. It’s going to be a tough winter, with energy prices rising painfully high for consumers across the United States and Europe. Projections show that in the UK alone, 26 million people are expected to fall into energy poverty over the course of this winter – a number that amounts to one in three households.
If the U.S. doesn't move to more common-sense energy policies, we will suffer a similar fate.
The energy crisis we’re experiencing now will soon turn into an everything crisis. High natural gas prices now have led to a fertilizer shortage that will turn into a food shortage next year as we potentially stand to lose nearly 2 percent of global corn, wheat, rice, and soybean production. And high energy prices have led to serious supply chain and manufacturing issues in an untold number of sectors, from automobiles to medicines, the impact of which will take a while to reach the consumer.
Read full article: https://oilprice.com/Energy/Energy-Gene ... rowth.html
For Energy Sector Investors: Owning upstream companies that control a lot of proven reserves and plenty of "running room" within leasehold they control will be getting more valuable as we move deeper into "Climate Change Cult World".