The shift is most apparent in Europe, which relies heavily on imported Russian energy to keep lights and heating systems running, and where energy prices have risen steadily. New conflicts and escalating sanctions and pipeline plan removed in response, has raised concerns that additional projected price increases could cause supply shortages as soon as next winter.
“We must become independent from Russian oil, coal and gas,” Ursula von der Leyen, president of the European Commission, said in a statement Monday. “We simply cannot rely on a supplier who has explicitly threatened us. We need to act now to mitigate the impact of rising energy prices, diversify gas supplies for next winter, and accelerate the clean energy transition.”
European Commission recently revealed a plan on how the region can transition away from Russian fossil fuels by 2030, regarding the short-term promotion of finding fossil fuel alternatives to Russian gas imports and maximizing Energy efficiency combined with a longer-term transition from fossil fuels to renewable energy is consistent with the region’s existing climate plans.
“I see this as an important step in accelerating the decarbonization of the European economy,” Andreas Goldthau, an energy transition expert at the Advanced Institute for Sustainability, told BuzzFeed News via email.
The commission’s model suggests something for a period where “two-thirds of Russia’s gas is replaced within a year through those measures, which makes me very ambitious,” Goldthau said. He then added: “At current prices, this means a significant cost to industry and households, and possibly too high a cost for some. ”
Meanwhile, also on Monday, President Joe Biden announced that the United States would immediately ban on imports of Russian energyanother layer of economic sanctions aimed at punishing the country for the attack on Ukraine.
“We are working on this ban, understanding that many of our European allies and partners may not be eligible to join us,” Biden saidNote that U.S. domestic oil production gives the country a flexibility that Europe doesn’t have.
But even with its massive domestic fossil fuel production, the United States is not immune to sharp fluctuations in energy prices set by global energy markets. As of Thursday, gas prices hit national average $4.31 a gallon (adjusted for inflationrecord gas price of $5.53 a gallon, set in 2008). Biden’s solution to prevent this problem from happening again is the same as Europe’s: clean energy.
“To protect our economy in the long term, we need to become energy independent,” Biden said. “It will push us to accelerate the transition to clean energy.”
