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Financial Times/Derek Brower, Tom Wilson and Chris Giles/2-25-2022
“’The next stage is an economic war,’ says Daniel Yergin, vice-chair of IHS Markit and author of The New Map, a recent book on energy politics. ‘The ultimate consequence of this can be a big negative shock to the global economy.’”
USAGOLD note: This article offers an in-depth look at the Ukraine invasion’s impact on energy prices now and in the future. Government spending, it says, has “put a huge tailwind” behind oil and gas demand and supplies are not keeping up. In turn, “fears of higher inflation are leading western leaders to make political compromises.” The 1970s gave us the wage-price spiral. Will the 2020s bring us an energy-inflation spiral?
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