Europe’s Energy Crisis Has Ended Its Era Of Abundance

European gas prices broke yet another record last week, driven by the anticipation of production outages in Norway, lower nuclear energy production in France, and, of course, Gazprom's planned shutdown of Nord Stream 1 for three days beginning on Wednesday. Benchmark prices in the Netherlands hit close to 316 euros per megawatt-hour earlier this week, which is equivalent to about $315 per MWh. In addition to the Nord Stream news, planned gas field maintenance in Norway also contributed to the latest price spike, as did news of planned outages at…