Europe’s Energy Crisis Could Last for Years
This winter will be bad, but next year’s could be worse.
Europe is facing a generational energy crisis as it heads into winter. A shortfall of 150 billion cubic meters of gas—gas that Russian won’t be delivering to Europe this year because of its war in Ukraine—has left Europe scrambling to find alternatives and contain the fallout. Gas prices in Europe are now about eight times the average of the past 10 years—and about eight times more expensive than prices in the United States. Governments are appealing to the public to reduce their gas usage while also trying to ensure consumers and businesses can afford to pay their gas and electricity bills at all—all the while preparing for the worst-case scenarios, ranging from periodic blackouts to cascades of industrial bankruptcies.
Cameron Abadi is a deputy editor at Foreign Policy. Twitter: @CameronAbadi
Read More
Moscow’s Gas Freeze Shows EU-Russian Trade Is Doomed
Russia is limiting supply in the hope of a short-term price rise.
Can Vague U.S. Threats Deter Russia From Using Nukes?
Vladimir Putin’s annexation of Ukrainian territories raises the risk of nuclear confrontation, but it’s unclear whether Washington’s rhetoric will stop him.
Russia Is Losing Its Clout in Central Asia as Ukraine War Spirals
Central Asian powers are learning that Putin is not the tough neighborhood sheriff he claimed to be.
More from Foreign Policy
A New Multilateralism
How the United States can rejuvenate the global institutions it created.
America Prepares for a Pacific War With China It Doesn’t Want
Embedded with U.S. forces in the Pacific, I saw the dilemmas of deterrence firsthand.
The Endless Frustration of Chinese Diplomacy
Beijing’s representatives are always scared they could be the next to vanish.
The End of America’s Middle East
The region’s four major countries have all forfeited Washington’s trust.
Sign up for World Brief
FP’s flagship evening newsletter guiding you through the most important world stories of the day. Delivered weekdays.
By submitting your email, you agree to the Privacy Policy and Terms of Use and to receive email correspondence from us. You may opt out at any time.
Join the Conversation
Commenting on this and other recent articles is just one benefit of a Foreign Policy subscription.
Already a subscriber? .
Subscribe Subscribe
View Comments
Join the Conversation
Join the conversation on this and other recent Foreign Policy articles when you subscribe now.
Subscribe Subscribe
Not your account?
View Comments
Join the Conversation
Please follow our comment guidelines, stay on topic, and be civil, courteous, and respectful of others’ beliefs.