Europe’s energy crisis offers a bleak warning for the U.S.
If you think the worst of energy-driven inflation is over, you’re unfortunately very wrong. While prices at the gas pump have settled from mid-summer highs, electricity bills are soaring on the back of surging natural gas prices. Regulators, grid operators, and utilities are warning that the nation’s power supply is growing alarmingly less reliable. Europe’s energy crisis is pulling prices up and destabilizing markets everywhere. Since the United States is now the world’s largest liquefied natural gas exporter, U.S. consumers are having to compete against energy-desperate ...