The costs and consequences of Europe’s energy crisis are growing
Despite appearances, the worst is yet to come
Just five panicked months ago, with flows of natural gas from Russia plummeting and rationing and economic devastation looming, the European Union approved an edict ordering members to ensure that their gas-storage facilities were at least 80% full by November 1st. In the end, they easily beat the target. Storage is currently 95% full, with more gas waiting to be unloaded from a fleet of tankers idling off Europe’s coasts.
This article appeared in the Briefing section of the print edition under the headline “Chilling prospects”
Briefing November 26th 2022
From the November 26th 2022 edition
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