No one doubts that Europe will need to increase its use of liquefied natural gas, continue burning coal over the next few years, and do more to help vulnerable communities and some industries manage higher energy costs. But how policymakers approach these tasks will be truly decisive for the long-term future.
COPENHAGEN – Russia’s war in Ukraine and the disruption of Russian gas exports to Europe has triggered an energy crunch, with price spikes unlike anything seen since 1973. And the situation will get worse before it gets better. Russian natural-gas flows to Europe are likely to be further curtailed – or even shut off – before winter, and sanctions on oil exports may soon start to bite into energy supplies, too.
COPENHAGEN – Russia’s war in Ukraine and the disruption of Russian gas exports to Europe has triggered an energy crunch, with price spikes unlike anything seen since 1973. And the situation will get worse before it gets better. Russian natural-gas flows to Europe are likely to be further curtailed – or even shut off – before winter, and sanctions on oil exports may soon start to bite into energy supplies, too.