Middle East

Energy crisis strengthens its grip across Europe and Asia

Prices for gas, coal and electricity have risen to their highest levels in decades, which has had a major impact around the world.

In the world’s capitals, there is a growing sense of caution about the energy crisis that is sweeping the country, as it has escaped from the Covid-19 pandemic.

The International Energy Agency (IEA) caveat Countries where the energy crisis can last for at least two years.

The largest surge in energy consumption since 2010 (6%) has been caused by a variety of reasons, including extreme weather events, the blockade of Covid-19 and the recovery of the economy from restrictions. But the good news of the latter will now be of little comfort to other headaches, and potentially governments that need to deal with even political and economic instability.

So how are different countries dealing with the energy crisis?

Europe

The UK Soaring energy prices are threatening the already fragile standard of living in the country.

After the 2007 financial crisis, the country was already struggling to improve its standard of living.Englishman think tank Before the pandemic began, the country calculated that it had experienced the worst wage increases in 210 years.

That extraordinary static electricity was only exacerbated by the pandemic, and energy prices are set to manage to rise. 50 percent In the UK, living standards may decline further in the coming months.

Recently one of the UK’s largest energy companies caveat A country where people need to prepare for higher energy prices for at least another two years.

As Europe’s energy crisis worsens French Government becomes the largest utility company $ 8.8 billion A hit to protect consumers. French President Emmanuel Macron, who will be in the election this year, is determined not to lose his vote.

in the meantime, Germany, Europe’s largest economy is closing it all Reactor As a result, the country demands more energy.

The energy crisis is exacerbated by geopolitical tensions between the United States and Russia over Ukraine.

Germany aims to increase the amount of energy it supplies from Russia through the Nord Stream II pipeline. This will undermine Ukraine while directly connecting the two countries.

Russia occupies about 40 percent Analysts believe the country is fulfilling its contractual obligations, but prices are rising because they are not working to meet additional demand.

Fatibirol, the head of the IEA Accused Russia argues that it is exacerbating the continent’s energy crisis, and Russia argues.

Gas prices soared following the collapse of US-Russia negotiations earlier this week-Moscow warned that Washington could not address national security concerns, leaving options for military action in Ukraine.

In a note to investors, Bank of America For the average EU consumer, they believed that their energy prices were set to skyrocket from $ 1,370 in 2020 to $ 2,095 in 2022.

The biggest increase is Italy In the UK, billing will skyrocket by about $ 1,000.

Ukraine, As part of it Experienced Its own energy crisis, in part due to geopolitical tensions, as Russia tightens screws and makes it difficult for the country to buy additional energy. Moreover, the country’s lack of winter planning and internal political factions only exacerbated the crisis.

In Europe, the energy crisis is gaining momentum, reducing the standard of living of its citizens and potentially driving millions into poverty. In other countries, it can overthrow the government.

The wind turbine is behind a solar power plant in Rapshagen, Germany, on Thursday, October 28, 2021. An analysis of the upcoming German government’s climate program concluded that it was not enough to get the country on track to reach its 2015 goals. Paris agreement. (AP)

Asia

One of the most visible signs of what the energy crisis can do in some countries KazakhstanProtests have been triggered by soaring 100% gas prices for liquefied petroleum gas (LPG), which is widely used by citizens to drive cars, and widespread protests have occurred nationwide.

of Tajikistan, Another Central Asian state, Rolling power outage Since November, many of the country’s citizens have been left outside major cities without power.

Similarly, Uzbekistan Experienced Power outage, Authorities blamed the weather.

but Turkmenistan, The country with the fourth largest reserves of natural gas in the world Report Of regular power outages.

What makes the situation in these states particularly enthusiastic is that many are spending their money on what the country’s political elite is spending because energy prices are rising against the backdrop of high resource reserves. I’m wondering.

The global energy crisis has not escaped the world’s second-largest economy.

Soaring coal prices since September last year China Left millions nationwide Faced with an energy outage Forced local governments to close energy-intensive industries.

Due to the integrated nature of the world’s energy supply, China’s electricity demand is pushing up prices in other parts of the world, resulting in fierce energy competition and higher prices. ..

China’s energy crisis in the country Partial stem The government ordered the shutdown of coal-fired power plants-a policy that had to be reassessed.

To avoid power outages at home because energy prices are soaring Indonesia, One of the world’s largest coal suppliers to China, shocked everyone at the turn of the year. Export suspension, A little relaxed movement.

The impact of rising coal prices is IndiaIs the world’s second largest coal importer and home to the world’s fourth largest coal reserves.

Countries where 70% of their energy is emitted from coal are facing a serious energy crisis that threatens millions of people with poverty and economic slowdowns due to rising prices and rising energy demand.

Indian neighbor, PakistanIsn’t that good, but it’s facing a gas crisis more than coal, high global prices, and shortages of reserves, creating a perfect storm for the country.

Source: TRT World

https://www.trtworld.com/magazine/an-energy-crisis-strengthens-its-grip-across-europe-and-asia-53661?utm_source=other&utm_medium=rss Energy crisis strengthens its grip across Europe and Asia

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