Post by
barryt34 on Feb 25, 2022 10:47am
If Russia shuts off the taps
According to Kateryna Filippenko, principal analyst for Europe gas research at Wood Mackenzie, "Were all gas flows to stop today, Europe could well muddle through in the short term, given higher storage inventories and low summer demand. But in the event of prolonged disruption, gas inventory couldn't be rebuilt through the summer. We'd be facing a catastrophic situation of gas storage being close to zero for next winter. Prices would be sky high. Industries would need to shut down. Inflation would spiral. The European energy crisis could very well trigger a global recession."