There Is A Serious Worldwide Energy Crisis Right Now!!!

 

     There is an energy crisis in three countries that we need to be worried about. The US, Canada, Australia, and Argentina have enough oil, natural gas, and coal to last until renewable energy comes online later in this century.

       China has an energy crisis right now. Flooding in Shanxi Province and Inner Mongolia has taken 60 coal mines offline. Some 190,000 hectares of crops have been destroyed. This situation is made worse, ironically, by good moves that China is making to control climate change. They have taken several coal mines and coal-fired electric stations out of service. They have launched an anti-corruption campaign.

   Soon Chinese factories will slow down or shut down in some cases. Our supply chains are already damaged. As China cannot deliver manufactured products to us, their economy will fall into a recession. The US and Chinese economies are tied together. It will drive us into a recession also.

   India likewise is facing a challenge with an acute shortage of coal. Their industries will slow down. A recession could come there also.

        The third crisis is Europe and natural gas. Prices of this fuel are five times as high as they were a year ago. What has caused this is a complex question. Many Europeans rightfully believe that Vladimir Putin has created an artificial shortage to increase his profits. Mr. Putin is a man always to be taken seriously. He has a brilliant mind. He can be ruthless. The Russian natural resources company Gazprom controls natural gas resources in Russia. This company follows Putin's wishes. This is only one dimension of the problem that I discovered during in-depth research. As coastal China grows more affluent, they add 15 million new natural gas users each year. These new Chinese customers look to Gazprom as a major source of natural gas. There is another hidden culprit-US sanctions against Russia over the Ukraine and Crimea seizures. Gazprom is still listed on international stock exchanges. It does not have access to Western capital markets to finance new exploration and modernization that would increase outputs. They are blocked from obtaining the latest modern technology.

    Britain and Western Europe use a system of storing natural gas in the ground during the summer months and releasing the natural gas in the winter. Gasunie in Holland began a release of stored natural gas recently. Earthquakes and similar consequences followed. This slowed the release of natural gas. Britain suffered a similar problem.