Given the ongoing unrest in the Ukraine, the announcement by Russia’s energy giant Gazprom that it will be increasing the price of gas delivered to Ukraine by 40 per cent will do little to pour oil on the troubled waters.
This price increase effectively cancels the discount agreed in December 2013 as part of a package designed to lure the Ukraine away from the EU and reinforce its ties to Russia.
Russia is Europe’s biggest supplier of natural gas, so it has a considerable degree of power and influence in the continent’s energy market.
Times like these – and the price-hike tactics practiced by Big Energy companies – sure do fly the flag for the wider adoption of renewable energy options as an alternative to the Earth’s dwindling and expensive fossil fuels. They’re called fossil fuels for a reason, man! This is prehistoric energy!
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