The Big Take
Natural Gas Soars 700%, Becoming Driving Force in the New Cold War
Shortages of the fuel are rippling throughout the global economy, threatening recessions and a further wave of inflation.
This article is for subscribers only.
One morning in early June, a fire broke out at an obscure facility in Texas that takes natural gas from US shale basins, chills it into a liquid and ships it overseas. It was extinguished in 40 minutes or so. No one was injured.
It sounds like a story for the local press, at most — except that more than three weeks later, financial and political shockwaves are still reverberating across Europe, Asia and beyond.