Fools..

 

Europe can thank the Democrats and the Biden administration for their war against crushing the US energy industry that led to massive divestments across the sector, which crippled oil production growth and refining capacity, and pressured/shamed the world into withdrawing any capital allocations to fossil fuels.

Ben Dell, chief executive of private equity group Kimmeridge Energy, said the shale industry’s investors on Wall Street would not give their blessing to a big production increase, preferring a low-production, high-profit model.

Rig counts in the US have started to fall and production has flatlined well below pre-pandemic levels. (Market flactuation)

On top of the Democrat-led crippling of the US energy industry, EU leaders have been on an ESG-crazed mission to decarbonize their power grids with renewable (now finding out -- not so reliable) energy and are frantically bringing back crude oil, coal, and natural gas power generators ahead of the cold season. Some EU countries are even extending the life of nuclear power plants.

You reap what you sow in higher gas prices, and inflation.  Just a thought.