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How Europe’s Energy Crisis Exposed Old Fault Lines and New Anxieties

The Daily

The New York Times

News, Daily News

4.597.8K Ratings

🗓️ 25 October 2022

⏱️ 22 minutes

🧾️ Download transcript

Summary

In the early days of its war on Ukraine, Russia cut off gas supplied to most of Europe, plunging the continent into the most severe energy crisis in decades. Soaring prices have put some European leaders on the defensive over their support of Ukraine in the war as they navigate economic crises and bubbling unrest at home. Guest: Matina Stevis-Gridneff, the Brussels bureau chief for The New York Times.

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0:00.0

From the New York Times, I'm Sabrina Tavernice and this is The Daily.

0:13.2

In the early days of the war in Ukraine, Russia cut off gas supplies to most of Europe, plunging

0:18.8

the continent into the most severe energy crisis it had seen in decades.

0:23.2

Today, I talked to my colleague, Matina Steviskrittneff, about the resulting economic pain and why

0:30.6

European leaders are now so afraid of it.

0:37.3

It's Tuesday, October 25th.

0:40.3

I'm Sabrina. Nice to see you.

0:49.7

Can you describe exactly what's happening right now with energy and energy prices in Europe?

0:56.8

Well, I guess the simple answer is, they're through the roof.

1:00.7

Time is running out for Europe to contain soaring natural gas prices.

1:06.4

And because energy just goes into pretty much everything we consume, it's really starting to cause economic chaos.

1:16.5

Prices assuring and major economies like Germany are considering rationing when the cold weather hits.

1:22.6

When I say energy prices are up, I mean that they're really up by as much as like 500% in some places.

1:30.4

500%?

1:32.0

Yeah, it's a lot.

1:33.6

The lights went out early on Friday as one of Paris's most famous landmarks, the Eiffel Tower.

1:38.6

The iconic tower shut off its dazzling lights as part of an initiative to save electricity.

1:43.7

And it's now one of...

1:44.7

Across Europe, governments are taking action to switch the lights off in public buildings and even landmarks.

1:51.1

People are being urged to cut their energy use by showering less and turning off the lights.

1:56.5

And there is all sorts of public messaging going on about turning down your heater.

2:02.0

They've literally turned down the temperature here at the EU summit building.

...

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