Surplus gas is burnt off at the crude oil processing plant of PCK Raffinerie in Brandenburg, Germany on February 25. The German government says it will free up some of its national oil reserves in response to the conflict in Ukraine and rising oil prices. Photo: DPA
Opinion
Opinion
Macroscope
Higher energy prices over Ukraine invasion should worry Europe more than US
- Europe and the UK rely on imports from Russia for a third of their gas, putting them at risk from disrupted deliveries amid fighting in Ukraine
- The US should be more resilient given trends in household savings and less spending on energy
Surplus gas is burnt off at the crude oil processing plant of PCK Raffinerie in Brandenburg, Germany on February 25. The German government says it will free up some of its national oil reserves in response to the conflict in Ukraine and rising oil prices. Photo: DPA
