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Europe's Energy Crisis: How Bad and How Long?

Ones and Tooze

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Is This the Widest Gap Between Europe and the United States?

I think the question really is the medium term, and whether or not a programme of the economy can get Europe back on track. Unlike in the United States, the incentives now could hardly be more serious. Even if by means of these energy subsidies, huge harm to consumers is averted. Nevertheless, governments now have a massive incentive to try and reduce their energy import bills because it's immediately rebounding on government budgets. I would expect the energy transition to lurch forward in years to come, but in the short run, this is a very, very serious, you know, bump in the road.

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