The War in Ukraine has proven disastrous for Europe’s dwindling energy supply. Now that Europe has lost its primary source of natural gas – Russia – they’re paying up to 10x market price to replace that lost supply.
So what can Europe do? First, hope that they have one of the warmest winters on record. After that, they only have two (equally detrimental) options. 1 – continue sourcing natural gas from spot markets or 2 – remove the demand for natural gas. I didn’t say the options were great, but at least they have choices.