European Energy Prices set Records

“…According to the Wall Street Journal yesterday, due to a rare lack of North Sea wind, already high European energy prices are climbing higher.

“Gas and coal-fired electricity plants were called in to make up the shortfall from wind.

Natural-gas prices, already boosted by the pandemic recovery and a lack of fuel in storage caverns and tanks, hit all-time highs. Thermal coal, long shunned for its carbon emissions, has emerged from a long price slump as utilities are forced to turn on backup power sources.”…”