Your Old Fridge Is Vladimir Putin’s Friend. Dump It!
Incentives like negative electricity rates and subsidies for energy efficient appliances can help Europe store up gas for the winter.
Pals of Putin.
Photographer: Education Images/Universal Images Group EditorialNegative oil prices were one of the craziest moments ever in the energy market. At one point in April 2020, a seller paid a buyer $40 for a barrel of West Texas Intermediate. We’re going to need another crazy moment if Europe is going to make it through the winter. How about this: Pay consumers not to consume electricity.
A year on into the energy crisis, policy makers have only tried supply measures in their attempt to address the problem. Their own words highlight the approach: “supply” and “production” got 28 mentions in last week’s communique of the Group of Seven summit; “demand” and “consumption” just five.