"You Have No Idea How Bad Europe's #EnergyCrisis Is#Naturalgas prices are 10 times the usual... largely due to #Russia's war in #Ukraine... bracing... for things to get worse before they can get better"#EnergyPriceCap #UkraineRussiaWar #CostOfLivingCrisis [_link{

— Duroyan Fertl (@dfertl) September 5, 2022

The biggest problem is spiking natural gas prices, which have been wreaking havoc across the continent, turbocharging inflation, hamstringing industries, and making ordinary people shudder when they get their power bills in the mail. European natural gas prices are now around 10 times higher than they were on average over the last decade and about 10 times pricier than in the United States. Alex Munton, an expert on global gas markets at Rapidan Energy Group, a consultancy, said European natural gas is so expensive it's like paying $500 for a barrel of oil. And these are the good months.