altbaucharme
2022-08-28 20:13:51
- #1
Nice that you are so optimistic about energy prices
I am truly no expert when it comes to the energy industry, but I have a good friend who is an industrial engineer at a large energy company and whose expertise I trust. His take on it is that the high energy prices at the moment are largely artificially explained by hoarding by governments, for example by filling gas storage facilities by the federal government, as these were at a historic low due to the extremely low corona-related demand (I recall the fuel prices during corona).
Just two hours ago, a report came in via DW that Germany announced it had already completely filled its gas storage before winter. The laws of supply and demand say that prices have to fall again by the beginning of the year at the latest. Because wherever extremely high profits are made, these are short-term – as I said, what goes up must go down.