If you think inflation is bad, wait until the rest of the commodity markets really heat up. Although prices for basic materials like copper, aluminum, nickel and steel—used to build everything—have already inflated, they haven’t yet escalated as much as fuels and energy-driven commodities like food. But they will if European and U.S. policy makers have their way. Buckle up.
On both sides of the Atlantic, leaders promise that more green energy—solar, wind and electric vehicles—will cure Western overreliance on volatile oil and natural gas and further isolate Russia. But that cure would be far worse than the disease because green energy’s staggering use of basic minerals will fuel inflation.
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