I am writing for Carnegie Endowment for International Peace on energy issues. July 6 Back to the 1970s? EU-Russia Energy War Heats Up Europe, and probably the global economy as a whole, is already headed for a recession. Economic slowdown usually leads to a reduction in energy demand, which should help, but this time the potential shortfall is too big, and energy shortage–induced stoppages will probably deepen the recession and accelerate inflation, similar to the 1970s.
Carnegie opinions
Carnegie opinions
Carnegie opinions
I am writing for Carnegie Endowment for International Peace on energy issues. July 6 Back to the 1970s? EU-Russia Energy War Heats Up Europe, and probably the global economy as a whole, is already headed for a recession. Economic slowdown usually leads to a reduction in energy demand, which should help, but this time the potential shortfall is too big, and energy shortage–induced stoppages will probably deepen the recession and accelerate inflation, similar to the 1970s.