This what I've been talking about, how Europe shot themselves in the foot.
They so badly wanted to kill off oil, yes, Resident Biteme even stated as much, that now their stupid plan is coming back to bite all of them in the ass!

No Bailout Coming" - US Energy Producers Send Ominous Warning To Europe


Europe can thank the Democrats and the Biden administration for their war against crushing the US energy industry that led to massive divestments across the sector, which crippled oil production growth and refining capacity, and pressured/shamed the world into withdrawing any capital allocations to fossil fuels.

Ben Dell, chief executive of private equity group Kimmeridge Energy, said the shale industry's investors on Wall Street would not give their blessing to a big production increase, preferring a low-production, high-profit model.

"Investors generally don't want shale companies to pursue a growth model," he said.

"The capital availability is extremely limited."

Rig counts in the US have started to fall and production has flatlined well below pre-pandemic levels...



On top of the Democrat-led crippling of the US energy industry, EU leaders have been on an ESG-crazed mission to decarbonize their power grids with renewable (now finding out -- not so reliable) energy and are frantically bringing back crude oil, coal, and natural gas power generators ahead of the cold season. Some EU countries are even extending the life of nuclear power plants.

The problems don't end there -- in 80 days, or on Dec. 5, the EU will embark on another suicide mission of banning seaborne imports of Russian crude. Then on Feb. 5, 2023, a ban on Russian petroleum product imports kicks in. These sanctions were enacted over the summer. However, piped imports of Russian crude and petroleum products will be exempt in some EU member countries, like Hungary, Slovakia, and the Czech Republic.

More~~~
https://www.zerohedge.com/commodities/us-shale-warns-energy-stricken-europe-no-bailout-coming