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Analysis: Europe's energy security this winter? Depends on the weather
European countries are buying gas at sky-high prices and scrambling to curb energy use to avoid fuel shortages this winter, but early weather forecasts point to the risk of a cold snap that could temporarily hike demand.
Related Knowledge Center: Energy security and pricing
State of Play
The United States achieved net energy independence in 2020, but that has not insulated the nation from the roiling of energy markets in the wake of the Russian invasion of Ukraine. Europe has been a large consumer of Russian natural gas, and the effort to wean itself, with the help of the United States, has strained markets and endangered global efforts to address the climate crisis.