Industrial production over the long term is a sad sight, powered by offshoring.
The Everything Shortage keeps promising to keep getting worse.
Imports from OPEC reduced to irrelevancy.
Subsidized by investors who lost their shirts, cheap natural gas was a huge benefit to the US economy for years.
The miracles of the new economy.
They’re not taking mass transit, that’s for sure.
Biggest buyers: Mexico, South Korea, Japan, China, Spain, UK. Price spike in February, when Texas froze up, unwound. Asian LNG price spike in January is unwinding.
In 2020, by source, coal collapsed to record low, natural gas dominated, wind and solar surged, while hydro and nuclear remained roughly flat.
Now hoping for “corrective action” and “credit intervention” by the State of Texas.
What ERCOT planners got colossally wrong was the availability of their fossil fleet: Gas and coal plants failed. Even a nuclear reactor tripped offline.