It is almost comical but the European gas crisis is not necessarily a harbinger for the future. It was caused more by inadequate buffering of gas for the winter. There is plenty of gas storage in operation but not necessarily in use Because companies only buy gas in the summer for use in the winter when they think that this is a valid business proposition. This means they must have reasonable hope to sell the gas with a markup in winter. Storage still has a price tag. Would you spend good money on a market chance that looks like rolling the dice? I would not do that. But maybe, when we sit in the dark, we have time to reflect on what really matters.
Empty gas stocks, windless days, disrupted supply lines, CO2 certificates, soaring inflation, blackouts, bitter cold and other forebode a winter of discontent across Europe.