– This summer, power grids worldwide won’t produce enough electricity to meet the soaring demand, threatening more than one billion people with rolling blackouts. Grids are stretched thin by fossil fuel shortages, drought and heatwaves, commodity disruptions and soaring prices due to the war in Ukraine, and the failed green energy transition where grid operators retired too many fossil fuel generation plants. Combine this all together, and a perfect storm of blackouts threatens much of the Northern Hemisphere.
The power crisis, affecting a large swath of the world and top economies, could be less than a month away when summer begins on June 21. Regions that concerned Bloomberg are Asia, Europe, and the US, where there’s not enough power to go around when cooling demand is set to surge as households crank up their air conditions to escape the sweltering heat.
Learn More: https://www.zerohedge.com/commodities/one-billion-people-risk-power-blackouts-global-grids-stretched
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