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flag Global energy surplus lowers European gas prices, narrowing U.S. cost advantage.

flag Wholesale energy prices in the UK and Europe have nearly halved since last winter due to a global surplus of liquefied natural gas and oil, narrowing the industrial competitiveness gap with the U.S. flag Despite the U.S. being the top LNG exporter, domestic gas prices have surged 50% since August, raising cost-of-living concerns. flag Global oversupply, projected at 5.7 million barrels of oil per day, is driving down prices worldwide, benefiting importers but reducing revenues for exporters. flag The shrinking price gap between U.S. and European gas is eroding America’s energy advantage. flag Experts urge policy reforms in Europe, including shifting energy levies to gas and promoting clean technologies like heat pumps and electric vehicles, to align with climate goals.

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