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Russia's Invasion of Ukraine Upends Energy and Electricity Markets

Russia's Invasion of Ukraine Upends Energy and Electricity Markets

Russia


Attachment: Fossil Fuel Costs, Demand Growth

July 20, 2022--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--The abominable human cost of Russia's invasion of Ukraine this past February has been, and continues to be, well documented by the news media and humanitarian organizations. A new report from the International Energy Agency (IEA) (Paris, France) shows how that war has led to a catastrophic vicious cycle in global energy and electricity markets.

The IEA's new Electricity Market Report, released July 20, projected that global and regional economic growth will be significantly depressed this year and next, coming off a robust 2021 as the world largely emerged from the economic ravages of the COVID-19 pandemic.

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