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Apple and Tesla Suppliers Hit By Global Energy Crisis. What to Know.

From www.barrons.com
2021-09-27 14:10:00

Excerpt:

A worldwide energy shortage is threatening to develop into a full-blown crisis.

The scenes in the U.K. over the weekend were reminiscent of the 1970s, as drivers queued at thousands of filling stations amid fears of a fuel shortage, sparked by a lack of truck drivers. But the panic at the pumps is really a sideshow. Natural-gas prices in Europe and around the world have skyrocketed amid shortages, leading to higher household bills and suppliers collapsing.

China is experiencing its own energy crunch as shortages have led to record coal prices and soaring natural-gas costs. It’s beginning to have an impact; production at a number of factories—including some supplying Apple and Tesla—has been halted.

 

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