Skyrocketing prices of natural gas and electricity has Erupoeans scrambling for alternative sources of energy. Meanwhile, in Germany, google searches for ‘Brennholz’ (firewood) have exploded in the past few months as electricity prices are climbing ever higher.
Electricity issues
Furthermore, Will Rhind, Founder, and CEO of GraniteShares joined Kitco News to discuss the energy crisis in Europe. Rhind indicated that alternative sources of energy have not come on line quick enough to offset the issues seen in the European energy markets. He also added:
Nuclear power to the rescue
Moreover, Rind believes that nuclear power is slowly gaining momentum despite being pilloried for decades by politicians. The investment in this sector, according to him, could pay dividends in the form of sustainable green energy. The current energy crisis will show its true effects after the winter months when the possible demand destruction among consumers happens. Only after that occurs, could demand destruction start to bring down inflation, but energy prices will play a key role in this process. It seems in the end, for the European consumer, the only strategy left at the moment is to hunker down, tighten the proverbial belt and look for alternative heating solutions to live through the cold winter that is coming. Buy stocks now with Interactive Brokers – the most advanced investment platform Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
