|Winter is Coming|
ZeroHedge has a good story about how stupid the bureaucrats in Europe are about energy supplies. This paragraph is prime:
And there you have it: after demonizing Russia for much of the past decade, with countless fake news reports out of the liberal media in the US seeking to portray Putin as the world's biggest mastermind and effectively in control of the Trump White House, while helping send western relations with Russia to fresh post-Cold War lows, the chicken are coming home to roost and they are finding the temperature to be rather frigid.
Basically, Europe is very dependent of natural gas from Russia, but the bureaucrats have screwed things up and the price of that gas has gone through the roof. Prices might fall back a bit in a month or two, but you know politicians - never let a crisis go to waste. I'm sure they'll find some way to keep the crisis going.
This doesn't affect us too much, most natural gas is delivered by pipeline rather than ships. We don't have any trans-oceanic pipelines, but some natural gas is delivered by ships. The whole energy infrastructure is interconnected, so even if natural gas prices don't affect us directly, it's going to make everything from Europe more expensive.