On our drive to Ft Worth (Texas) this morning I mentioned to my lovely wife that the gap between the US and Europe -- at least regarding energy -- is going to only get wider and wider. I don't think she was listening to a word I was saying.
Tonight, this article over at oilprice.com:
- rising oil and energy prices have sent inflation in the EU to the highest in nearly six years
- annual energy prices are soaring; now up 10% yoy
- the annual inflation rate in the EU is now the highest since December, 2012
- Germany: inflation in the EU's biggest economy -- the highest in more than 6 1/2 years
- the IEA is worried about "demand destruction" for energy products
- when it's freezing outside this winter I doubt we will hear much about "demand destruction"
- whatever happened to renewable energy?
- we were stationed in Germany for seven years back in the 1980s and 1990s. We found heating oil then "prohibitively" expensive even then compared to what we were used to paying in the US; I can only imagine how expensive heating oil has gotten in Germany;
- the price of oil has been trending down for the past six months; and even at its recent high, it wasn't all that bad; imagine how Europe will do when the price of oil really begins to surge;
- there's a reason the Europeans want the US to embrace the "global warming" scam -- that's the only thing that can slow the US down when it comes to energy