Why This Energy Shock Will Hit Consumers Harder Than 2011

AI Briefing

• – Key point: The current energy shock will disproportionately affect consumers due to the lack of a comparable response from the shale patch.
• – Unlike 2011-2014, the 2023 energy shock is not being mitigated by shale production.
• – Consumers are more likely to bear the brunt of the pain as the shale industry's response to price pressures will be limited.