Turn Off the Lights? Europe Hurts Itself Trying to Harm Russia

Turn Off the Lights? Europe Hurts Itself Trying to Harm Russia
Model of natural gas pipeline with EU and Russia flags on the background, on July 18, 2022. Dado Ruvic/Reuters
Daniel Lacalle
Updated:
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Commentary
The European Union has announced strict “energy efficiency” consumption reduction measures to cut 15 percent of gas demand as Russia threatens to shut down gas supplies. Some regions and cities have imposed aggressive heating and air conditioning limits as well as cuts in building lights. Does this work or will it backfire?
Daniel Lacalle
Daniel Lacalle
Author
Daniel Lacalle, Ph.D., is chief economist at hedge fund Tressis and author of the bestselling books “Freedom or Equality” (2020), “Escape from the Central Bank Trap” (2017), “The Energy World Is Flat”​ (2015), and “Life in the Financial Markets.”
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