China is experiencing an electricity shortage--
Britain is in the grip of a petrol shortage as hundreds of cars queue outside petrol stations for scarce supplies.
The EU is running out of gas: they are even starting to blame Russia for sending more gas to Asia.
America is suffering a shortage: the shelves are bare, and even our favorite fried chicken is suffering.
There are labor shortages, chip shortages, even coffee shortages all over the world...
Why the global energy crisis?
Overall, the root cause of this round of global energy crisis is the energy shortage caused by the imbalance between supply and demand.From the demand side, although the recovery is weak, the demand is relatively strong, especially in the context of global monetary easing, overseas demand is still recovering.Specifically, THE PMI of major economies is still in the expansion range, China's export continues to run at a high level, external demand remains high, supporting the middle and downstream manufacturing industries, and energy demand continues to grow.On the supply side, oil, natural gas and coal prices have all hit new highs due to rising transportation and trade costs, rising raw material prices and a shortage of energy.
How long will the energy crisis last?
Considering from the increase in capital expenditure to expand capacity needs a long time, after the plague transit transport is relatively complex, the current inventory far couldn't keep up with demand, close the gap between supply and demand still need time, tight supply of structural problems still exist, high equilibrium is expected to last 2-3 years, short-term energy crisis will continue, it is difficult to have improved significantly.
What are the implications for the global economy?
The global energy crisis, which is expected to last several years, could trigger stagflation around the world, with far-reaching consequences for the global economy.