The Crisis Brewing in Energy Markets | Tracy Shuchart
Forward Guidance
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The Price of Natural Gas in Europe
Tracy: The major portion of this is just poor energy policy. What Europe is trying to do with their green plan is they're trying to shut down shut off oil and gas without proper planning, Tracy says. And that's what we sort of saw happen earlier this year in the UK and Germany where power prices skyrocketed because they were trying to rely too much on renewable resources. Since then, we've seen them backtrack a little bit. The EU is now talking about adding natural gas and nuclear back into their green plan where initially they had decided to cut it off completely.
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