🇺🇸 / 🇬🇧 Spain’s Blackout – What happened, why and what’s next?
Energy commodities (second only to food and water) are the most critical resources for modern life and the smooth functioning of our societies. In fact, energy consumption is one of the most indicators that most reliably correlates with GDP growth. Yesterday, Spain and Portugal Grid went dark, and the economy was brought to a halt. Payment systems broke down, public transportation collapsed, comms were disrupted, and traffic in major cities became self-regulated. Citizens and businesses reverted to using FM radio, cash payments, and diesel-powered generators. So— what exactly happened?
