On Tuesday, October 11 at 19:30 GMT:
Russia’s war in Ukraine has resulted in a global energy crisis impacting people from Germany and Ghana to Sri Lanka and Peru.
As the world’s second largest producer of natural gas and third largest supplier of crude oil, Russia’s withdrawal and isolation from global energy markets has left countries scrambling to gain access to new sources of energy. In what some see as a further blow, OPEC+, a global cartel of oil producing countries, has announced it will reduce oil production by 2 million barrels a day, which some fear will drive up prices even further.
As prices rise amid the resource crunch, governments everywhere are under pressure to secure energy in an increasingly competitive market. Ultimately, it’s citizens who are bearing the cost of energy instability, resulting in what the UN has called an “existential cost-of-living crisis for hundreds of millions of people”.
In this episode of The Stream, we’ll discuss how people around the world are affected by the global energy crisis, and what it will take to bring relief.