News
Europe’s scramble for gas could cause the next energy shortage
Europe’s scramble to find alternatives to Russia’s natural gas is pushing the world to the brink of a winter energy shortage, with the worst effects likely to be felt in poorer economies in Asia.
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.