It has now become more fashionable to talk about shortages. Computer chips have been in shortage and then in glut in the last few years. Natural gas was acutely in shortage in Europe after the war in Ukraine and pipeline sabotage brought supplies from Russia down to a trickle. Then, heroic efforts at conservation and in obtaining liquefied natural gas (LNG) shipments to Europe led to a dramatic reduction in price. But last week just the potential for labor strikes among LNG workers in Australia, a major LNG exporter, sent the European price spiking…
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