Europe faces energy crisis as gas prices soar

a { color: #880000 !important; background: #ffeeee !important; } Europe faces energy crisis as gas prices soarWorld News > EnergyEurope is facing an energy crisis as gas prices soar due to Russia's cutbacks of natural gas, used to heat homes, generate electricity and power factories. Bakers who can't afford to heat their ovens are talking about giving up, while fruit and vegetable growers face letting greenhouses stand idle. Statues and historic buildings are going dark. In poorer eastern Europe, people are stocking up on firewood, while in wealthier Germany, the wait for an energy-saving heat pump can take half a year. The Dutch are turning to more traditional heating methods as cold weather reaches the Netherlands. Customers are primarily looking to trim spending on heating, driven by the belief that "if I have coal in my shed I will be warm this winter."

What's happened

Europe is facing an energy crisis as gas prices soar due to Russia's cutbacks of natural gas.

Why it matters

The energy crisis is affecting businesses and individuals across Europe, with some unable to afford to heat their homes or run their businesses. The crisis is driven by Russia's cutbacks of natural gas, which is used to heat homes, generate electricity and power factories. The situation is causing concern for the security of commercial energy supplies amid the escalating confrontation between the West and Russian President Vladimir Putin.

What the papers say

The Independent, Reuters, AP News

How we got here

The crisis has been ongoing since Russia's cutbacks of natural gas, which is used to heat homes, generate electricity and power factories. The situation is causing concern for the security of commercial energy supplies amid the escalating confrontation between the West and Russian President Vladimir Putin.