Europe’s Energy Crisis Is Coming for the Rest of the World, Too
Millions of people around the globe will feel the impact of soaring natural gas prices this winter.
A power failure in November 2016 plunged London's West End into darkness. Energy supplies in the U.K. and elsewhere in Europe may become more unreliable this winter.
Photo illustration by 731; Photo: Getty Images
This winter, the world will be fighting over something that’s invisible, yet rarely so vital—and in alarmingly shorter supply.
Nations are more reliant than ever on natural gas to heat homes and power industries amid efforts to quit coal and increase the use of cleaner energy sources. But there isn’t enough gas to fuel the post-pandemic recovery and refill depleted stocks before the cold months. Countries are trying to outbid one another for supplies as exporters such as Russia move to keep more natural gas home. The crunch will get a lot worse when temperatures drop.