Dr Nakhle explains that the more you go east, the more you see greater dependence on Russia’s energy exports. As such, unlike Germany, the UK can afford to take the US line because they are shielded from Russian exports.
Prices heading up can be quite frightening, but today’s oil importers in the global economy are not the same as they were in the 1970s. If there are greater political gains to be achieved from this, the OECD (Organisation for Economic Co-operation and Development) economies at least can afford higher prices than what we are seeing today.
“No endgame for Ukraine“, Christof Rühl, Feb 2022
“Can Europe completely cut its reliance on Russian energy supplies?“, Dr Carole Nakhle, Mar 2022
“Can Europe decrease its reliance on Russian gas?“, Dr Carole Nakhle, Mar 2022
“Russia, OPEC+, Europe and Energy Markets“, Dr Carole Nakhle, Mar 2022
“EU Energy Policy amidst the Current Gas Crisis“, Dr Carole Nakhle, Feb 2022