The Energy Deadlock in Europe.

The problem goes far beyond the war in Ukraine, and Europeans will pay for more than two decades of mistakes by their leaders.

In the early autumn of 2022, all eyes are on markets that were only known to insiders three or four years ago: gas and electricity markets in Europe. Until then, only the price of oil mattered, setting the tone for the global energy scene. It was oil that triggered the great shocks of the 1970s and 2008-2010.

Natural gas was only a distant second, especi…