The invasion of Ukraine has thrust the world into an energy crisis. Since Russian troops began pouring across the country’s borders, oil prices have risen by more than a quarter. Gas prices have nearly doubled. And the outlook for both markets is not promising; as Western countries use sanctions to limit Russia's ability to finance its war with oil and gas revenues, energy prices are likely to remain high and volatile. The wartime uncertainty is dovetailing with concerns about climate change, prompting further anxiety about the world’s energy future. Countries needed to start shifting away from fossil fuels decades ago to protect the planet. Now, they must do so at a time when people are paying increasingly high prices.
Read Full Article »
