BI: US faces energy crisis in 2022 due to lagging gas production
The US will face an energy crisis in 2022 due to a lag in gas production and storage, warns Business Insider.
Total domestic gas production, the publication notes, has fallen by 28 million cubic metres per day in a week from a peak of 2.76 billion cubic metres.
At the moment, gas reserves in the United States are 10 per cent below traditional levels. This is due to the hot weather, which means that energy has to be used to cool the air indoors.
Customers in Europe, meanwhile, are willing to pay seven times the price of natural gas as it costs in the United States. Customers in Asia have also increased their gas purchases in anticipation of massive demand from Europe, which is looking for alternative sources. Meanwhile, there are only two and a half months left before the start of the heating season in the US, the publication notes.
Earlier, the American Thinker published an article claiming that the decisions of US President Joe Biden’s administration are leading the country to economic and social disaster, which makes the head of state a traitor.
With the start of Russia’s special operation to demilitarise and denationalise Ukraine, the West increased sanctions pressure on Moscow. Many countries have announced freezing of Russian assets, and calls to cut energy supplies from Russia have grown louder. These measures have caused problems for Europe and the US, with rising food and fuel prices.