Most European countries have closed their oil and natural gas production, despite still having economically viable reserves. Germany blew up all of their nuclear power plants also, which used to provide 31% of their electricity 25 years ago. Europeans sanctioned Russian oil and natural gas, dramatically reducing that supply source. Germany allowed Ukraine/Britain/USA to blow up the Nord Stream pipeline and did nothing about it. Now oil and natural gas from the Persian Guld has been reduced by Iran threatening ships trying to pass thru the Strait of Hormuz. European energy policy is a disaster and at this point it almost seems intentional.(FXHedge)