At the beginning of the pandemic, energy prices crashed. We did an episode of this show trying to figure out how oil prices fell to negative $40 per barrel.
Times have changed. Oil is up over $100/barrel. But far more acute is what’s happening with natural gas, particularly in Europe and Asia. In the US, natural gas prices have doubled in the last year. But in parts of Europe, the price has risen more than 5 times.
The disruptions are clear. We're seeing stories of power shortages in China, fertilizer plants being shut down in the UK, and fears about home heating costs in the Northeast US as winter approaches.
So what is going on? How long might it last? And what does it tell us about the future?
To answer those questions we turn to Leslie Palti-Guzman, the President of Gas Vista and a non-resident fellow at NYU SPS Center for Global Affairs.
Leslie helps us to cover the many demand-side and supply-side issues. Then they talk about what comes next: What does this crisis reveal about the vulnerability of the energy system? And will countries double down on renewables, gas, or both to shore up their resiliency?
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