US Natural Gas Prices Hit 14-Year Record High, EU Prices Surge on Planned Pipeline Closure

The Industrial Park of Hoechst in Frankfurt, Germany, on June 23, 2022. Germany is in the process of activating an emergency plan for natural gas supplies to ward off a crisis this coming winter. Europe’s energy shortages are a direct consequence of the incremental acceptance of a green ideological agenda since the 1960s. AP Photo/Michael Probst

U.S. natural gas prices climbed to a new 14-year high on Monday amid fears regarding shortages in Europe prompted by Russia’s plans to shut down the vital Nord Stream 1 gas pipeline at the end of the month.

Russian state gas giant Gazprom last week announced that the pipeline, which links western Russia and Germany, would be shut down for three days of “routine maintenance” from Aug. 31 to Sept. 2.