Are Rising Energy Prices The First Sign Of Greenflation?
Patrick Boyle On Finance
Patrick Boyle
4.9 • 320 Ratings
🗓️ 5 October 2021
⏱️ 15 minutes
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| 0:00.0 | Hello and welcome. You are listening to Patrick Boyle on Finance, a podcast exploring ideas from quantitative finance, examining events occurring in markets right now and financial history to see what lessons can be taken away, including interviews with some of the most interesting people in the world of finance. To learn more about the podcast, visit onfinance.org. |
| 0:27.2 | Over the last month, the news has been dominated by stories of energy shortages around the world. |
| 0:33.8 | China has seen major industrial output cuts caused by power outages over the last year. |
| 0:39.9 | European gas prices are trading near record highs and the UK is reeling from the political fallout of the surge in energy prices. |
| 0:48.3 | The crisis in Europe could possibly foreshadow future difficulties in the rest of the world. |
| 0:54.5 | The continent's energy shortage right now has government's warning of blackouts and factories |
| 1:00.0 | being forced to shot. |
| 1:02.4 | Nations today, in particular in Western economies, are more reliant than ever on natural |
| 1:07.4 | gas to heat homes and supply electricity. This is due to a global push to quit |
| 1:13.2 | using coal and move towards lower carbon energy sources. But this year there hasn't been enough |
| 1:19.3 | natural gas available to meet the demand of the post-pandemic recovery, while also refilling |
| 1:25.8 | depleted stocks before the cold winter months. |
| 1:30.0 | Nations today, in particular in Western economies, are more reliant than ever on natural |
| 1:34.8 | gas to heat homes and supply electricity. |
| 1:38.2 | This is due to a global push to quit using coal and move towards lower carbon energy sources. |
| 1:44.3 | But this year there hasn't been enough natural gas available to meet the demand of the |
| 1:49.0 | post-pandemic recovery, while also refilling depleted stocks before the cold winter |
| 1:54.6 | months. |
| 1:55.6 | In many countries there's been a push to stop extracting fossil fuels locally, but they then still buy in fuel |
| 2:02.7 | from abroad to meet their local energy needs. In many countries, there's been a push to stop |
| 2:08.9 | extracting fossil fuels locally, but they still buy in fuel from abroad to meet their energy |
| 2:14.6 | needs. Countries are trying to outbid one another for supplies as exporters |
... |
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