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 world’s people, using 17% of its energy, of which 65% is imported. So this 13-page note searches for the ‘least bad’ 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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