Falling towers: how will energy shortages play out?

If global energy supplies run short, then someone has to curtail demand. Europe is in the firing line, with 7% of the worldโ€™s people, using 17% of its energy, of which 65% is imported. So this 13-page note searches for the โ€˜least badโ€™ options to cut European energy demand. We do not think the lights will go out. But more energy intensive industries may shutter and never return.

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