Lessons of The Energy Crisis
This article emphasises a fact a few politicians and economists want to discuss. The main reason for food price inflation is restrictions on gas and coal projects that hiked energy prices to levels unseen since the 1970s crisis.
Lessons Of The Energy Crisis
American and European leaders haven’t learned them
Mr. Biden’s energy policy disregards a basic fact: For industrialized economies to function when the sun isn’t shining and the wind isn’t blowing, there must be what Ms. Shaffer terms a “baseload or a stable source of energy.” Currently, only hydrocarbons or nuclear power can provide that.
Restricting the production of natural gas has raised the price of food. That’s good for no one and especially painful for the poor.
Most Western leaders seem oblivious…
Meanwhile, Germany and other European nations have been buying and burning more coal…