The new energy shock: Putin, Ukraine and the global economy
Payne Institute Director Morgan Bazilian contributes to this article about how even before Russian tanks rolled into Ukraine on Thursday, western governments were struggling with rising energy prices that threatened to derail economies emerging from two years of pandemic. Vladimir Putin’s aggression could now turn that threat into a reality. From crude oil to diesel to natural gas, the fossil fuels that power the global economy are trading at or towards record levels, threatening to redraw geopolitical relations
between producers and consumers, drive up inflation and potentially even disrupt the fight against climate change. February 25, 2022.