Sign of the times: current global energy crisis the first of more to come

The next several decades could see more periods of energy-driven inflation, fuel shortages and lost economic growth

05 October 2021 - 19:08 By David R Baker, Stephen Stapczynski, Dan Murtaugh and Rachel Morison

The world is living through the first major energy crisis of the clean-power transition. It won’t be the last.

The shortages jolting natural gas and electricity markets from the UK to China are unfolding just as demand roars back from the pandemic. But the planet has faced volatile energy markets and supply squeezes for decades. What’s different now is that the richest economies are also undergoing one of the most ambitious overhauls of their power systems since the dawn of the electric age — with no easy way to store the energy generated from renewable sources...

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