As Europe seeks to reduce its dependence on Russian gas, economists are worried that consumers won’t follow the example of companies
Economists are worried that the continent’s consumers won’t follow companies in reducing their energy use
Western leaders are preparing for the possibility that Russian natural-gas flows through the Nord Stream pipeline might never return to full levels. WSJ’s Shelby Holliday explains what an energy crisis could look like in Europe and how it might ripple through the world. Illustration: David FangCOLOGNE, Germany—A painful push by businesses to cut their natural-gas use is bringing Europe closer to its goal of weaning itself off Russian energy.
Businesses, facing skyrocketing prices during a widening economic conflict running in parallel with Russia’s invasion of Ukraine, have ratcheted down their gas use in recent months. The reduction has exacted a significant economic cost, with slowing production at chemical plants anda WSJ membership
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