Despite some setbacks, Europe is considering a ban on Russian oil, a major step toward energy independence from Russia. Meanwhile, Russia’s demand that buyers pay for its natural gas in rubles has put European consumers in a tough spot and has led Russia to cut off gas exports to Bulgaria and Poland.
All of this puts Europe in the middle of an energy crisis – with no clear end in sight.
For a look at whether Europe can stand against Russia without compromising its own energy supply and continue to make progress on its clean energy goals, host Jason Bordoff speaks with Kadri Simson. She’s the European Commissioner for Energy and works to ensure Europe has affordable, sustainable, and secure sources of energy.
Before joining the European Commission in 2019, she was Estonia’s Minister for Economic Affairs and has held various other positions in the Estonian government.
During her recent visit to Columbia University, Commissioner Simson and Jason discussed various aspects of the European energy market including Europe’s natural gas demand, the importance of Russia’s diesel and refined products, and the continent’s nuclear future.
In June 2022, the European Commission allowed Spain and Portugal to decouple the price of gas from that of electricity for 12 months.
Methane emissions are second only to carbon dioxide emissions as a driver of human-induced climate change.
A price cap on Russian crude oil in response to the country’s invasion and ongoing...