Energy, time for choices?

The year 2022 may have been a milestone in the fight against climate change … but the war in the Ukraine was the main reason. The conflict fragmented markets and drove prices crazy for part of the year. This will have the effect of imposing unprecedented sobriety efforts in Europe in the 21st century and increasing the attractiveness of low-carbon solutions (renewables, energy efficiency, nuclear, etc.). In addition to the environmental effects of fossil fuels, this war reminds us that the dependence of importers places them under the threat of supply disruptions that have remained fairly theoretical since the 1970s. And the war is leading Europeans to recognise that the low-carbon transition is also in their economic interest, saving units of energy sustainably at both higher and more volatile prices. And to face stiff competition from the United States, whose industry has been boosted by cheaper fossil fuels and, with the Inflation Reduction Act, by an aggressive policy in decarbonised technologies, also in reaction to the war.