There is a worrying shortage of energy from Europe to Asia, caused by supply restraints from the world’s top producers, and that’s poised to shutter factories and boost power bills. Analysts say the reasons behind the energy shortages are multifold but many of them predate the COVID-19 crisis. Consumer and factory demand for energy has come roaring back after plummeting during the early months of the pandemic, leading to supply chain bottlenecks and production chain pain points. The price of natural gas and coal, used to power factories and heat homes, has surged to multi-year highs as the post-pandemic rebound collides with supply constraints. The burden now lands on world leaders to fight the new crisis as it threatens the post-covid economic recovery.
#GlobalEnergyCrisis #PowerShortage #EnergyCrunch
00:00 - Introduction
2:35 - How bad is the global energy crisis
3:25 - How the energy crisis is impacting the world
6:38 - Oil prices soar as energy crunch worsens
7:12 - Transition to green energy
8:57 - Challenges ahead for world leaders
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