March 14, 2022
Economic sanctions by the US and its European allies have dealt a heavy blow to Russia’s economy and impacted global energy supply. US stocks have fluctuated dramatically. Europe’s stores of natural gas were estimated to run out in March if the weather became extremely cold and Russia halted supplies. Europe is importing more gas from the US and shifting to renewables. As international traders sell more natural gas to Europe to profit from price hikes there, China will find it difficult to import more affordable gas for its industry and consumers. There will be more market opportunities and also more competition for China’s photovoltaic companies as Europe and other countries move to green energy.