Firstly of the pandemic, power costs crashed. We did an episode of this present attempting to determine how oil costs fell to detrimental $40 per barrel.
Instances have modified. Oil is up over $100/barrel. However much more acute is what’s occurring with pure gasoline, significantly in Europe and Asia. Within the US, pure gasoline costs have doubled within the final 12 months. 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 vegetation being shut down within the UK, and fears about residence heating prices within the Northeast US as winter approaches.
So what the heck is happening? How lengthy may it final? And what does it inform us in regards to 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 various demand-side and supply-side points. Then they discuss what comes subsequent: What does this disaster reveal in regards to the vulnerability of the power system? And can international locations double down on renewables, gasoline, or each to shore up their resiliency?
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