Tensions in Ukraine have escalated this week. Europe
is watching nervously. Charlemagne writes in The Economist that Europe must do three things to reduce its
vulnerability to Russian energy exports.
“First, it should reduce its reliance on
imported energy by developing renewable and nuclear power, shale-gas resources
in the EU and promoting energy-saving measure.
Second, it needs to diversify its sources of imported gas. More could
come from Norway….Third, and perhaps most important, the EU should ensure that
natural gas, wherever it comes from, can reach all who need it at a reasonable
price.”
Stay tuned. This will take time to play out.
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