[Skybird]

Does it finally slowly sink into their minds? It better would. I am predicting these things since years. My only question to them thus would is - what took you so long...?

https://edition.cnn.com/2022/06/02/b...ion/index.html

The global economy has largely been able to withstand surging energy prices so far. But prices could continue to rise to unsustainable levels as Europe attempts to wean itself off Russian oil and, potentially, gas. Supply shortages could lead to some difficult choices in Europe, including rationing.

Joe McMonigle, secretary general of the International Energy Forum, said he agrees with this depressing forecast from the IEA.

"We have a serious problem around the world that I think policymakers are just waking up to. It's kind of a perfect storm," McMonigle, whose group serves as a go-between for energy producing and consuming nations, told CNN in a phone interview.

The extent of that perfect storm -- underinvestment, strong demand and supply disruptions from the war -- will have wide-reaching consequences, potentially threatening the economic recovery from Covid-19, exacerbating inflation, fueling social unrest and undermining efforts to save the planet from global warming.

Birol warned of supply bottlenecks of gasoline and diesel, especially in Europe, as well as rationing of natural gas next winter in Europe.
"It is a crisis for which the world is woefully unprepared," said Robert McNally, who served as a top energy adviser to former US President George W. Bush.