Pray not to rise: How long will the energy crisis that has engulfed the world last?

The price of crude oil has been raised for 65% this year. Gas, over $3 per galone in most of America, is the most expensive since 2014.

Natural gas, which offers more than 30 percent of US electricity and much of its heat during the winter, has doubled this year.

Coal has exploded, too, with China and India digging as far as they can. The price of American coal has increased by 400 percent this year.

The situation is even worse in Europe, where electricity prices have increased by fivefold and natural gas prices have increased significantly.

All of this is fuelling more inflation, pushing prices for metals with intensive energy like eel, steel, and silicon. The plehu, mainly made of natural gas, has grown rampant from 2008 to nearly $1,000,000.

We'll have to deal with inflation if we can survive the challenge of not getting up this winter.

Who should we blame for all this trouble? A combination of factors. It starts with central banks that insist on low artificial interest rates and free money flow, despite record levels of consumer spending. Add to that, Russia is not providing as much gas in Europe as expected.

But the roots of the problem are even deeper. And the big problem is that renewable energy is not showing enough to fill the void. In July, renewable energy sources offered no 10 percent of total energy generation.

Has the whole issue been declared too soon? Germans have regretted closing their nuclear power plants over the past decade.

Economist Ed Yard summed it up better than others this week said: the <x0-seconds [power sources] are not ready to take the lead. And instead of a well-planned transition, the rush to eliminate fuels is causing their price to rise and cut the per capita power supply. ”

Pray for an age-old discovery in nuclear fusion, and remember that the last time such energy innovation [2008] bubble appeared, it helped the Great Depression. /Forbes. Periscope