Energy News Today

Europe made a mistake with Russian energy, now it needs to spend big


U.S. Senator Chris Murphy on Tuesday criticized Europe’s overreliance on Russian energy, saying it had come at a heavy cost and called on the region to start investing heavily in alternative supplies.

“What a mistake for Europe to have been welded to Russia when it comes to energy,” Democratic Party member Murphy told CNBC’s Hadley Gamble at the Warsaw Security Forum in Poland.

“We’re now seeing the price of that mistake, so let’s make up for lost time,” he said.

Europe has been at the forefront of the escalating global energy crisis borne out of Russia’s unprovoked invasion of Ukraine.

Once a major importer of Russian energy — previously relying on the country for up to 45% of its natural gas needs — the region is now faced with dwindling supplies and soaring prices as a result of its own sanctions against the Kremlin.

Time to spend



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Europe made a mistake with Russian energy, now it needs to spend big

2022-10-04 10:26:52

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