Michelin-starred chef Tom Kerridge says the utility bill at his UK pub spiked from £60K to £420K — why Europe's energy crisis is getting worse and how it hurts the US

From fine dining to fertilizer, escaping the fallout gets harder and harder.

Michelin-starred chef Tom Kerridge recently announced that one of his smaller locations faced a seven-fold increase in utility costs, a warning that other venues could force a winter shutdown of popular bars and restaurants.

Kerridge blames the potential shutterings on Europe’s failure to institute caps on energy prices, which have proven extremely volatile after the invasion and subsequent halt of natural gas flow via the Nord Stream 1.

But the problems go deeper than world-class food.

Gas prices in the U.S.

The Nord Stream cutoff has forced Europe to shop the global market for gas supplies. Global players have stepped up, including the U.S., which has dramatically increased the amount of liquified natural gas sent to Europe.

Dwindling domestic stocks equals higher prices in the U.S., and eventually, that will be felt by American households. Roughly half of U.S. homes rely on natural gas for heat.

Travel trials

Travelers headed to Europe this fall or winter should manage their expectations.

In Germany, for instance, energy consumption curbs mean lights will go out earlier in the evenings, pools will go unheated, hot water may be rationed and rail travelers could see increased wait time for trains that will cede to higher-priority transports of coal or oil.

Beer, wine and … fertilizer?

As Europe heads into winter, it may be harder to find pockets of the European economy — including goods normally headed to the U.S. — that won’t be affected.

The continent as a whole is confronting a major energy crisis. This summer’s unprecedented heat conditions affected the output of hydroelectric energy, which curbed nuclear energy output and raised demand for cooling.