Read this in The Manila Times digital edition.
THE coming months in Europe will most likely be catastrophic from an energy point of view due to skyrocketing prices. Energy is Putin's best weapon against the European Union, that has repeatedly sanctioned him and is providing financial and military support to Ukraine. Also responsible for the high price increase is the pricing design, which was aimed at encouraging the development and use of renewable energy. Without nuclear energy — a source of energy that only now, in the midst of the crisis, some European nations are considering producing again — Europeans decided to throw themselves into the arms of natural gas, which comes largely from Russia. It is more than foreseeable that the continuation of the current situation for a few more months will have terrible consequences for productivity and the welfare system of which Europeans are so proud.
