China and Europe are in the middle of a major energy crisis that just might spill over into the US. Europe for months has been dealing with high natural gas and power prices while China is riddled with power outages. Europe natural gas prices are reaching record highs from extremely cold winters followed by unusually hot summers. This all wrapped up into Europe's carbon permit policies. China has been hit with rolling blackouts in the country while apartments in China try to cut back on consumption of power by asking renters to no use AC. The power outages have been so bad that they have slowed down production in Apple and Tesla factories in the country. High coal power taxes mixed with low hydro-electricity has led to this lack of power in China.
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