Gregory Broe, an American environmental researcher, stated that the current energy crisis in Europe has resulted in enormous price increases and increases in the cost of living, resulting in the greatest inflation wave that many European countries have witnessed in over half a century.
In an essay published by the American Foreign Policy magazine, the researcher noted that Europe is bracing for a harsh winter as a result of the terrible energy crisis that Russia is presently experiencing as a result of Western sanctions put on Moscow as a result of the Ukraine war.
The author feels that Europe is presently in the midst of an energy crisis, particularly in light of mounting worries that Russia would cut off all gas shipments to European countries.
According to the author, the crisis has thrown a long shadow on many industries in Europe, causing a rise in the prices of all commodities, including energy costs, portending a catastrophic scarcity of energy resources in European nations and a harsh winter.
According to the author, the crisis has had a considerable impact on several commodities, particularly fertilisers, which need large volumes of natural gas.
The author argues that the current climate crisis has intensified the impact of the problem on European countries, since the drought that has devastated several parts of the world, including Europe, has caused numerous rivers to dry up, affecting the energy provided by river water.
According to the author, the spike in gasoline costs caused a severe surge in inflation rates throughout Europe, with strong European countries such as Britain and Germany seeing the biggest inflation wave in more than a half-century.
According to the author, following World War II, Europe grew dependent on imported materials for energy to satisfy its fuel demands, while also becoming dependent on imported oil to meet roughly 60% of its energy needs.
The author shares his conviction that, given the enormous obstacles that Europe confronts, the only solution to ease the present energy crisis is for Europe to rationalise its energy usage while still depending on alternative energy sources. According to the author, certain European countries, such as France, have already begun to rely on nuclear energy in an effort to diversify their fuel access sources.
The author closes his post by emphasising that Europe’s economy rely heavily on manufacturing, particularly imported energy resources, which is a weakness for Europe and threatens the continent’s energy security.
According to an American researcher, Europe’s energy issue is triggering the largest inflation surge in half a century.
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