| Staatswissenschaftliche Fakultät, Willy Brandt School of Public Policy, Global Public Policy, Forschung

Energy crisis: Five questions that need to be answered in 2023

Energy markets have been on a roller coaster ride this year. In response to Russia's invasion of Ukraine, Western countries imposed financial sanctions on Russia and an embargo on its oil exports. In retaliation, Russia curtailed its gas supplies to Europe. Major importers such as Germany had to cut their energy consumption and look elsewhere for supplies. Low- and middle-income countries found it difficult to obtain affordable energy. Countries such as Pakistan, Bangladesh and Sri Lanka experienced power outages; the rise in fuel prices hit food markets.

By the end of 2022, much of Ukraine's energy system is in ruins. Global gas and electricity prices remain enormously high. The OPEC energy cartel and fossil fuel-rich nations are back in charge. In the new year - and beyond - the energy crisis will have profound implications for where the world is headed and how it can find its way to a greener future. But what exactly are the implications, and how should policymakers respond? In an article now published in Nature, Professor Andreas Goldthau of the Willy Brandt School of Public Policy at the University of Erfurt, together with Simone Tagliapietra (Senior Fellow at the Brussels European and Global Economic Laboratory), outlines the global energy challenges for 2023 and explains the questions that research must answer to overcome the crisis. Five questions they identified:

  • How will the global "energy map" change?
  • Will high energy prices lead to greater and accelerated expansion of renewable energy?
  • How will the industrial landscape change?
  • How can energy costs be reduced, and what kind of public support could help bring sustainable and clean products to market quickly?
  • And: What will be the lasting economic consequences of the energy crisis?

For Andreas Goldthau and Simone Tagliapietra, it is already clear that "the energy crisis is both an opportunity and a challenge. As the clock ticks down to 2023, researchers must deliver answers to secure the green energy transition."