The Intelligence from The Economist Joule of denial: Russia’s energy games
Sep 13, 2022
Matt Steinglass, Deputy Europe Editor for The Economist, discusses the precarious energy situation in Europe as the looming threat of Russian gas supply cuts hangs over winter. He highlights strategies like subsidies and price caps that countries are implementing to combat rising costs. Avantika Chilkoti, an International correspondent, shares touching stories from Ukraine's surrogacy industry, focusing on the resilience of surrogate mothers amid conflict. Their experiences reveal the lasting impact of war on personal lives and industries.
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Russia's Energy War
- Russia is using energy as a weapon against Europe, by limiting gas supplies.
- This tactic aims to weaken European support for Ukraine amidst rising energy costs.
Unified European Response
- European countries need a unified response to Russia's energy tactics.
- Individual approaches are less effective than a collective strategy.
High Energy Prices
- Despite gas stockpiles, high prices remain a concern due to unpredictable winter needs and competition.
- Russia's closure of the Nord Stream 1 pipeline, in retaliation to G7 oil price caps, has exacerbated the situation.