DEBT CRISIS: Fed Meltdown Accelerates as Gold Confirms Crisis
Russian President
war in Ukraine has jolted Europe’s slow-moving efforts to wean itself off Russian natural gas, but time is running out, threatening to leave consumers cold and factories idle by next winter.
Whether the Kremlin turns off the taps in retaliation for sanctions or Europe stops buying, European policy makers agree that they need to prepare for a future with much less Russian energy, if any.
Untethering Europe’s gas market from Russia would represent a monumental change for a Continent that has grown so reliant on gas from the Siberian permafrost that it has built little infrastructure needed for alternative supplies.
The European Union gets around 40% of its gas from Russia—and that dependence has grown in recent years. This week, as the West sought to hobble Russia with sanctions, the EU was paying as…
