David Victor on Global Energy Markets in the Wake of the Sanctions on Russia

As the war in Ukraine continues, sanctions on Russian energy exports have led to a rise in global oil and gas prices. How might the supply disruptions, rising prices, and the growing political urgency in Europe to reduce reliance on Russian oil and gas shape our energy future? Are we likely to see environmentally harmful short-run effects as countries scramble for additional sources of hydrocarbons? Could the current crisis accelerate efforts to reduce our reliance on fossil fuels? David Victor at UC San Diego joins EconoFact Chats for a discussion of these issues. David is Professor and the Center for Global Transformation Endowed Chair in Innovation and Public Policy at UC San Diego. He is also co-Director of the University’s Deep Decarbonization Initiative.