WRITTEN BY TSVETANA PARASKOVA ON DEC 20, 2022. POSTED IN LATEST NEWS
Europe’s Energy Crisis Just Getting Started As Gas Supplies Tighten
lng tanker gasDespite successfully filling its gas storage ahead of winter this year, Europe’s energy crisis is far from over.
The situation for Europe could, in fact, be worse next winter when the Russian pipeline gas supply will be down to a trickle, at best.
European households and businesses have already seen a rise in total energy costs by $1.06 trillion (1 trillion euros), according to estimates by European economic think-tank Bruegel published by the International Monetary Fund (IMF).
According to Bruegel’s analysts, if governments in Europe do nothing except offer financial support, and if they cover the price increases, this sum would represent a massive 6% of the annual GDP of the EU. [emphasis, links added]
https://climatechangedispatch.com/europes-energy-crisis-just-getting-started-as-gas-supplies-tighten/
