Europe dealing with huge increase in price of gas as winter approaches

 Money Wise:

Wild swings in the price of natural gas — exacerbated by the halt of supply from the Russian Nord Stream 1 pipeline — is putting pressure on European power producers who now face liquidity challenges and margin calls from brokers.

Governments in Europe are looking at their options to help the producers, which will be critical in warming the continent through a looming winter — potentially without any natural gas flowing from the Nord Stream 1, the most significant supply line to Europe.

Much of Europe has aligned against Russia’s invasion and months of attacks in Ukraine, and Russia has frequently signaled its readiness to halt Nord Stream 1 in response. Now that that’s happened, the markets have predictably responded with volatility. Prices have risen and fallen with breathtaking speed, turning cost certainty into, well, a pipedream.
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This is more evidence that Trump was right about Europe's dependency on Russia for gas deliveries.  It is also clear that Biden was wrong in restricting US supplies of gas which could have eased the European energy crisis. The US media has not held Biden accountable for his strategic blunder and energy screw-up.

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