Suitably Flip

Fretting Over Oil "Gouging"? Be Glad You Live In America.

If UK energy watchdog Office of Gas and Electricity Markets' (OFGEM) concerns are substantiated, natural gas prices in Britain, Spain, and elsewhere in Europe may be being kept artificially high thanks to unexplained supply constraints.

From Reuters:

Gas prices hit a record 170 pence a therm last week, making UK gas the world's most costly traded fuel. But, despite the high prices, gas flows through the subsea pipeline with Belgium were running at about half capacity last week.

If true, such distortions would represent an unwelcome manipulation of the energy market, resulting in higher corporate profits at the direct expense of consumers.  If such manipulation exists, the transgression would be notably reminiscent of the one wrought on the American public by U.S. oil companies... only worse, since it would actually exist.

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Fretting Over Oil "Gouging"? Be Glad You Live In America.

If UK energy watchdog Office of Gas and Electricity Markets' (OFGEM) concerns are substantiated, natural gas prices in Britain, Spain, and elsewhere in Europe may be being kept artificially high thanks to unexplained supply constraints.

From Reuters:

Gas prices hit a record 170 pence a therm last week, making UK gas the world's most costly traded fuel. But, despite the high prices, gas flows through the subsea pipeline with Belgium were running at about half capacity last week.

If true, such distortions would represent an unwelcome manipulation of the energy market, resulting in higher corporate profits at the direct expense of consumers.  If such manipulation exists, the transgression would be notably reminiscent of the one wrought on the American public by U.S. oil companies... only worse, since it would actually exist.