What’s causing the energy crisis?
Global energy prices continue to rise. Coal prices are projected to increase by 81% in 2022, crude oil prices by 42% and natural gas prices by 74%. But these costs aren’t shared equally, especially for natural gas which requires specialised distribution infrastructure. The Russia-Ukraine war has therefore had an especially profound impact on Europe, which has been beset by a cost of living crisis.European countries are already introducing radical policies to ensure there is enough fuel to last the winter: windfall taxes, consumption caps, extra subsidies for consumers, extra liquidity for…
The skinny
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