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How the energy crisis in Europe is affecting coal

The turning off of Russian gas taps has sent Europe into the arms of coal. Since Europe’s energy shortage looks likely to extend into 2024, higher demand for coal could see prices soar

December 20, 2022 / 10:07 AM IST
How the energy crisis in Europe is affecting coal

liquefied natural gas

NATO nations, especially in Europe, are paying the price for a war in which they are not participating. After instigating the Russia-Ukraine war, European nations are paying through their nose. Reports say that rising natural gas prices caused by panic buying as nations rushed to fill their tanks ahead of winter has cost Europe over $1 trillion. According to the Brussels-based think tank Bruegel, European governments provided comfort to companies and consumers by funding $700 billion of the cost...

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