Energy costs on the rise
Refusal to exploit their own reserves of coal and gas, strong reluctance to import any more than the bare minimum because of a professed fear of trace gases in the atmosphere, and over-reliance on costly renewables is making the countries in question look more and more foolish. No end in sight to this kind of economic pain.
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Depleted natural gas inventories and low wind speeds have led to a surge in electricity prices across Europe, putting pressure on governments as consumers protest against surging power bills ahead of the winter heating season, says OilPrice.com.
Electricity prices from the UK to Spain have jumped to all-time highs, people in Spain have taken to the streets, while prices across Europe so high could become a drag on the economic recovery from the pandemic.
In Spain, day-ahead electricity prices surged to a fresh record…
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