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The European Energy Crisis May Be Back Soon

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The European Energy Crisis May Be Back Soon
European Commission President Ursula von der Leyen speaks during a press conference after the College meeting on the 'Save gas for a safe winter' package at the EU headquarters in Brussels, on July 20, 2022. John Thys/AFP via Getty Images
Daniel Lacalle
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Commentary

European natural gas prices soared almost 40 percent on the risk of a global liquefied natural gas shortage. European wholesale power prices remain below the record highs during the energy crisis, but have steadily climbed as the volatility amid the spectrum of international commodities underscores the fragility of the European energy system.

Daniel Lacalle
Daniel Lacalle
Author
Daniel Lacalle, Ph.D., is chief economist at hedge fund Tressis and author of the bestselling books “Freedom or Equality” (2020), “Escape from the Central Bank Trap” (2017), “The Energy World Is Flat”​ (2015), and “Life in the Financial Markets.”
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