Russia’s invasion has caused a short-term spike in prices, but could prompt a long-term shift towards sustainability.
. According to the International Energy Agency, Russia is the world’s largest oil exporter to global markets, and its natural gas fuels the European economy. The United States, the European Union and others have imposed economic sanctions on Russia, and have announced plans to wean themselves off that country’s fossil fuels. But even as Russia’s bombs rain down on Ukraine, its oil and gas continues to flow to Western nations that have condemned the invasion .
The war has prompted political leaders to rethink their energy plans, which could have profound impacts on a range of issues, from a burgeoning food crisis to global efforts totakes a look at some of the choices the world faces, as well as potential repercussions that could play out over the course of years or even decades.For now, the biggest question facing world leaders is how to sever their energy dependence on Russia.
The commission’s plan seeks to replace 101.5 billion cubic metres of Russian gas by the end of the year. Boosting imports to Europe from other countries could account for nearly 60% of that reduction, and another 33% would come from new renewable-energy generation and conservation measures, the plan suggests.
Although the next few years could be tough, the long-term impact on energy policy and greenhouse-gas emissions in Europe could be beneficial, according to Grimm, a co-author of the Leopoldina report. The power sector is covered by the European trading system, which caps cumulative carbon emissions, so a temporary increase in coal power, for instance, should drive up the price of carbon credits and force emissions reductions elsewhere.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
For Ukraine’s Tech Startups, Fighting The War Means Memes, Information Campaigns–And Keeping Their Businesses GoingTechnology companies proliferated in Ukraine before the war. Now the country’s 250,000 IT workers are looking at small ways to use technology to fight back and undermine Russian propaganda.
Read more »
Germany considering nationalizing units of Russia's Gazprom, RosneftGermany is considering nationalizing units of 2 Russian energy giants to bolster its energy supply amid the war in Ukraine
Read more »
Seattle rally supports Ukraine as Russia begins 'second phase' of warThose attending a Ukraine Rally at Seattle Center said they wanted to show support for the war-torn country as Russia is beginning a “Second Phase” of the war. FOX13
Read more »
Russia-Ukraine live updates: Zelensky to address U.N. Security Council; U.S. warns of lengthy warKyiv said the humanitarian situation in Mariupol was even worse than in Bucha, as Moscow continued to insist the killings there were “staged provocations.”
Read more »