Every now and then the geopolitical landscape that controls the world’s economies suddenly changes. Several forces are coming together in the energy world that could make Russia and Qatar the new gas “kings” of the UK and Europe. This will upset power markets enough that next months U.N. climate conference (COP26) in Glasgow could be in chaos as a result of too little clean energy development.
Natural gas prices in the UK and Europe have just hit staggering highs. The price of oil on the world’s indexes has also just hit seven year highs. If this winter is as bad as some meteorologists predict these increased costs will hit society’s poorest, exposing income inequalities and leaving them to make the choice of eat or heat.