Taiwan and perhaps other Asian countries that successfully make stuff don't expose their industries to this, the government sets a fixed energy price for them rather than leaving them at the whim of speculators.
"TAIPEI (TVBS News) — Premier Cho Jung-tai (卓榮泰) announced on Tuesday (Nov. 19 2024) plans to subsidize Taiwan Power Company (台灣電力公司) with NT$100 billion to address rising international fuel costs and stabilize prices"
=> over $3bn USD! This is not a small amount of money.
Long term price stability is currently not something that is optimized for.
One way to solve it is of course abandoning the ide of a market economy for power.
Another is to let those industries that need price stability buy that on the futures market.
At the end of the day, it's a global market, and if you want it 'cheap' someone has to pick up the tab. Either it's taxpayers now, taxpayers in the future or consumers now.
https://www.taipeitimes.com/News/front/archives/2025/03/23/2...
Taiwan's energy policy is, as far as I know, the most pants-on-head stupid of any country in the world. As anyone knows, they are a small island at constant risk of a sea blockade and yet rely on sea imports for 98% of their energy. Not only that, but they _had_ more domestic production (nuclear) that they have been phasing out. Writing giant checks to import yet more oil by sea instead of boosting domestic production is a terrible idea for so many reasons.