At the start of the pandemic, vitality costs crashed. We did an episode of this present attempting to determine how oil costs fell to damaging $40 per barrel.
Instances have modified. Oil is up over $100/barrel. However much more acute is what’s taking place with pure gasoline, notably in Europe and Asia. Within the US, pure gasoline costs have doubled within the final yr. However in elements of Europe, the value has risen greater than 5 instances.
The disruptions are clear. We’re seeing tales of energy shortages in China, fertilizer crops being shut down within the UK, and fears about residence heating prices within the Northeast US as winter approaches.
So what the heck is occurring? How lengthy would possibly it final? And what does it inform us concerning the future?
To reply these questions Shayle turns to Leslie Palti-Guzman, the President of Gasoline Vista and a non-resident fellow at NYU SPS Heart for International Affairs.
Shayle and Leslie cowl the numerous demand-side and supply-side points. Then they discuss what comes subsequent: What does this disaster reveal concerning the vulnerability of the vitality system? And can international locations double down on renewables, gasoline, or each to shore up their resiliency?
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