Europe is in the Midst of a Deepening Energy Crisis

Energy prices are soaring in Europe, driven largely by the uncertainty surrounding Russian gas exports.

And exacerbating the situation was an announcement in early September that Russia would not re-open its Nord Stream 1 pipeline, which is a major supplier of gas to Europe in general and Germany in particular.

As winter looms, European governments are scrambling to devise policies to minimize the impact of rising energy costs to both their economies and individual consumers. Needless to say, Europe’s ability to manage this crisis could have a significant impact on European countries approach to the conflict in Ukraine. Putin is very deliberately using gas and energy exports as a way to hit back at Europe and break Europeans’ steadfast support for Ukraine.

In this episode, we are joined by Ben Cahill, Senior Fellow in the Energy Security and Climate Change Program at the Center for Strategic and International Studies in Washington. We discuss Europe’s energy crisis, the EU’s response thus far, and the political impact of rising energy costs in Europe, as well as the potential remedies and consequences of energy shortages and price spikes.

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