| Dear Reader, On 27 September, Danish defence personnel took this photo:  | Source: Danish Defence |
It was gas bubbling up from the damaged Nord Stream gas pipeline near the Danish island of Bornholm in the Baltic Sea. The previous night, a drop in pressure was detected in the new Nord Stream 2 pipeline. Although not in use due to sanctions against Russia, it was full of gas. Soon after, leaks were also discovered in the Nord Stream 1 pipeline. At this point, it became obvious these leaks were the result of sabotage. But who did it? Did Russia sabotage their own pipelines? After all, they weren’t in use anyway. What did they have to lose? But if they wanted to inflict damage on Europe, why blow your own up instead of the nearby Norwegian pipelines that supply around 25% of Europe’s needs? Or did the US do it? They have lots of cheaply priced natural gas they’d love to sell to Europe. The answer is that no one knows. And you’re probably not going to find out either. Propaganda machines are in overdrive, and you’ll believe whatever your biases tell you to believe. As investors, it doesn’t really matter who did it. What matters is that it happened. We’re moving from an era of plentiful energy…to one of dwindling energy supply. And it will impact our lives…society…businesses…and where we should be investing our money. Get the full picture, right here. Sincerely, Greg Canavan,
Editorial Director, Fat Tail Investment Research | 
