The US sympathizes with the energy crisis that caused the war in Iran. When Donald Trump said at a political rally that the oil and gas business in the US was "making crazy fortunes" he was telling the truth, Bloomberg claims. The US is turning the energy crisis into a massive wind monster. With retaliatory attacks on US regional allies and the Hormuz standoff, Iran managed to inflict economic pain on Trump - raising the costs of gasoline and diesel. However, this pressure campaign largely failed to reach the American natural gas market, the publication claims. The shale revolution has left North America largely insulated from the shock of natural gas, creating an unprecedented price gap between the US and its competitors: US consumers pay about $3 per million British thermal units (MMBtu), compared to more than $30 in Europe and Asia; Prices in Canada are even lower, about $1.50 The price gap is 12 times wider than during the 2022 energy crisis following the outbreak of the conflict in Ukraine or the Fukushima nuclear disaster in 2011-2012 US gas production has more than doubled over the past two decades thanks to advances in hydraulic fracturing and horizontal drilling The US is also benefiting from the other side of the crisis: according to LNG exporters are reportedly poaching customers that have traditionally been supplied by producers in the Middle East, particularly Qatar. Since the liquefaction and delivery of gas is expensive, the result is a double advantage: cheap energy at home and profitable sales abroad. Europe and Asia remain to bear the brunt of the supply shock. substack | talk.

The US sympathizes with the energy crisis that caused the war in Iran. When Donald Trump said at a political rally that the oil and gas business in the US was "making crazy fortunes" he was telling the truth, Bloomberg claims. The US is turning the energy crisis into a massive wind monster. With retaliatory attacks on US regional allies and the Hormuz standoff, Iran managed to inflict economic pain on Trump - raising the costs of gasoline and diesel. However, this pressure campaign largely failed to reach the American natural gas market, the publication claims. The shale revolution has left North America largely insulated from the shock of natural gas, creating an unprecedented price gap between the US and its competitors: US consumers pay about $3 per million British thermal units (MMBtu), compared to more than $30 in Europe and Asia; Prices in Canada are even lower, about $1.50 The price gap is 12 times wider than during the 2022 energy crisis following the outbreak of the conflict in Ukraine or the Fukushima nuclear disaster in 2011-2012 US gas production has more than doubled over the past two decades thanks to advances in hydraulic fracturing and horizontal drilling The US is also benefiting from the other side of the crisis: according to LNG exporters are reportedly poaching customers that have traditionally been supplied by producers in the Middle East, particularly Qatar. Since the liquefaction and delivery of gas is expensive, the result is a double advantage: cheap energy at home and profitable sales abroad. Europe and Asia remain to bear the brunt of the supply shock. substack | talk.