The rise in the price of natural gas by 700% made it a symbol of the new economic cold war, Bloomberg reports.
The publication notes that fuel lack will affect the entire world economy. Natural gas now competes with oil as fuel that defines geopolitics. And, according to experts, he will not be enough for everyone.
High demand and lack of gas are one of the key factors in the high rate of inflation around the world. Since the beginning of last year in Europe, the increase in the price of this resource amounted to about 700%, in the USA the indicators below, but also high. This pushes the European and American economies to a protracted recession. The governments of European countries offer to return to the use of less environmentally friendly valuable fossils, pushing the “green agenda” to the background.
The war of Russia and Ukraine contributes partly by this situation. Russia reduces the supply of pipeline to Europe in response to statements by European politicians about the desire to abandon Russian raw materials. Because of this, European countries are in a hurry to obtain scarce loads of liquefied natural gas from the United States and other countries on the eve of winter in the Northern Hemisphere.