By John Kemp, Reuters commodity market analyst and reporter
Record gas and electricity prices in Europe, record coal prices in China, multiyear-high gas prices in the United States and oil prices well above their real long-term average are all manifestations of the same global energy shortage.
In the aftermath of the coronavirus recession, energy production has failed to keep up with rapid growth in consumption, as energy producers struggle to raise output while demand has bounced back quickly. The business cycle downturn and slump in energy prices caused by the pandemic, and before that the U.S./China trade conflict, depressed investment […]
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