Energy price spike in Europe, coal shortage in India: Are we seeing a global energy crisis?
France, Spain and Poland are among the EU-member-states urging Brussels to intervene in energy markets as wholesale gas prices soar to record levels, hitting businesses and families. The European Union seeks to keep plans to tackle climate change on track amid record-high energy costs. But it’s clear that poorer households have to be supported in some way. European countries aren’t alone in their struggle with energy-supply. India is facing a crunch in coal, following a surge in demand. Energy suppliers there have recently added over 28 million consumers, mostly lower-middle class and poor, who are buying goods like fans, lights and TV sets.