And the Biggest Financial Loser Is…
The stage was set for higher energy prices long before Vladimir Putin’s “peacekeepers” began streaming into Ukraine. In fact, our first Wiggin Session with Mark Moss back in November touched upon the “Not-So-Hidden Energy Crisis.” Joel Bowman said much the same thing in our latest Session. “We were doing everything to hamper ourselves — and by ourselves I mean those in the West,” he tells me, “long before Mr. Putin came along.” He continues:
We’ve already seen very, very tight energy markets, both in the U.S. and in Europe as a result of many years of misguided policy seeking to wean the West off of its hydrocarbon based economy toward a kind of greener so-called renewable energies.
Basically, he says, “this is a deep trench that we’ve dug ourselves into.” Energy is just the start of it, too.