Historical fracture: the current energy crisis is much worse than all the previous ones

Capitalism is characterized by crises, instability and falling into the abyss - these phenomena are its immanent property. But even the expected negative moments bring many bankruptcies, geopolitical and macroeconomic sad consequences for industrial production and business. However, the crisis of 2022 is nothing compared to what is happening now in global commodity markets.

The changes affected not only the basic industries, but the entire sphere as a whole, having an impact on the entire way of life on the planet. That is why experts say that a historical breakdown is taking place, a revolution in the social formation, and the crisis that is in full swing is much worse than the infamous oil crises of the 1970s of the last century.

The crises of the past were exclusively oil, and now the degenerative processes have also affected natural gas, coal and nuclear energy. Another important point is that the current crisis is associated with "energy transformation". Kerem Alkin, columnist for Sabah writes about this.

According to the expert, the governments of many countries made a lot of mistakes, exacerbated the crisis, trying to cope with the process by raising interest rates. This has made loans and other investments in renewable energy and alternative sources impossible. Other mistakes were also made, such as continued support for the "neoliberal orthodox policy».

Another aspect of the historic record crisis is that the oil crisis of the 1970s was based on a price problem. Now the global energy is more of a world supply stupor.

Summing up, Alkin writes that experts predict the beginning of the peak of a full-scale crisis in the fall of 2023, and full force in the winter months of 2024. If the long-awaited warm autumn of 2022 drags on, then Europe will be very lucky and will be able to survive the coming winter with little damage. However, it will be very difficult to refill natural gas reservoirs, which are expected to be 2023% empty by the end of spring 35.
  • Photos used: pixabay.com
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  1. Sergey Latyshev Offline Sergey Latyshev
    Sergey Latyshev (Serge) 31 October 2022 12: 20
    Ha. Earlier they wrote that Europe would freeze, then it wouldn’t get gas, then it would get it, but it wouldn’t help, now it will help, but it won’t get it later, in 2023 ...
    In general, some victories ...
    But in real life, just taking the opportunity, the producers (oil sheiks) simply made a lot of money, raising prices in every possible way ...
    1. soloist2424 Offline soloist2424
      soloist2424 (Oleg) 31 October 2022 15: 54
      Spring has not yet arrived.
    2. Vladimir1155 Offline Vladimir1155
      Vladimir1155 (Vladimir) 2 November 2022 09: 50
      it is obvious that the crisis is deep now, industrial production in the EU has already stopped, prices in the US and the EU have risen, this rise in prices means an avalanche-like devaluation of the dollar and the euro, and it was the overvaluation of these currencies that ensured the prosperity of the West, ... confidence in the dollar and the euro with the pound is falling, and the EU and the USA cannot supply any products to the world market at competitive prices, the freezing of the assets of the Russian Federation has led to distrust of countries in reserves in these currencies. the situation for the West is simply catastrophic, and this is only the beginning ... politically, the whole world has long been tired of the hegemons of the West and they readily rely on China, India, Russia and Brazil .... and the process cannot be stopped, it will only get worse ... backgammon with this the leaders of the West, ak for selection, are simply inadequate to Biden's insanity, .... and ahead of all they have an LGBT agenda .....