The Russian invasion of Ukraine has left a hole in the global energy market

Elisabetta Cornago, a senior research fellow at the CER in Brussels, Belgium, argues that for Europe, the crisis may ultimately accelerate the transition to clean energy. The EU and the UK have been heavily reliant on Russian gas for decades, making them politically vulnerable to interference from President Vladimir Putin. “It’s kind of a wake-up call for Europe,” Cornago said. “Decarbonisation is even more of an urgent necessity because of the defense and energy security angle.” 

... “The short-term is going to be ugly,” Cornago said.