The Intelligence from The Economist

Kicking the canister down the road: EU energy policy

Jul 27, 2022
Ludwig Siegler, an economist and European business editor, discusses the looming energy crisis as Russia cuts gas supplies to the EU amid winter concerns. He highlights the EU's struggle to reduce dependency on Russian gas and its differing strategies among member states. Slavea Chankova, healthcare correspondent, challenges the long-held belief linking serotonin levels to depression through a review of recent research. She suggests that a more nuanced understanding of depression could lead to better treatment approaches, moving beyond outdated assumptions.
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INSIGHT

EU Energy Crisis

  • Russia's gas cuts to Europe through Nord Stream 1 are viewed as retaliation for sanctions and support of Ukraine.
  • These cuts have caused gas prices to surge, prompting EU energy ministers to devise a plan.
ADVICE

EU Gas Reduction Plan

  • EU member states agreed to voluntarily reduce gas consumption by 15%.
  • Mandatory cuts are possible if the winter situation worsens, with exceptions for certain countries.
INSIGHT

European Dependence on Russian Energy

  • European countries have varying dependencies on Russian gas, from Spain's low reliance due to LNG investments to Germany's significant dependence.
  • Germany's pursuit of cheap Russian gas, despite warnings, now necessitates EU-wide gas cuts.
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