INTRODUCTION

Commodity price spikes are almost always the result of supply shocks that are caused by geopolitical events (i.e. – wars and trade wars) or natural disasters. They are, in a word, unsustainable.

While the current energy crisis was catalyzed by Russia’s invasion of Ukraine, its roots were formed over many years by poor energy policies in the West, which reflect a tremendous lack of understanding regarding the amount of investment that is required to support the energy transition as well as the importance of diversity and security of supply.