Most of today’s global risks seem to sizzle and eventually boil up in the natural gas market. With Hormuz having opened swiftly, the attention moves from geopolitics to summer weather, where climate change undeniably alters the risks.
A spectre is haunting Europe: the spectre of a stalled green transition. There is a piece of legislation moving through the institutions in Brussels that most people have never heard of. One that will shape how the Old Continent heats its homes, powers its factories and manages its energy costs for the next decade and beyond.
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