[Editor's note: A version of this story appears in the December 2021 issue of Oil and Gas Investor magazine.]
Coming out of the pandemic, the world economy is set to grow significantly. But the global energy situation is in dire need of realistic public policies that support U.S. production to the benefit of not only the U.S. but energy markets around the world.
In the midst of a global energy crisis, public figures recently converged on Glasgow. The crisis has been catastrophic in Europe. Electricity prices have skyrocketed due to higher natural gas prices and few sources of electricity. This pricing surge is killing Europe’s manufacturing sector, making it uncompetitive globally. Manufacturing plants are either being subsidized by the government, operating under an emergency EU exemption or are shutting down.
After having proven incapable of dealing with the reality of its energy situation, Europe is now held hostage by Russia and is scrambling to secure LNG supplies. It’s considering a second look at nuclear.