Page 20 - Zenith 12호

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It can cause environmental problem
European countries are in an energy crisis due to the war between Russia and Ukraine. Russia is the world's
largest producer and exporter of natural gas and plays an important role in the European energy market.
However, due to the Ukraine-Russia War, many European countries are unable to import energy stably. As a
result of this, prices in European countries are currently soaring. If the energy crisis continues, prices will rise

further and inflation will occur, which could depress the economy. In addition, if gas supply is stopped in the
long run, gas stocks will not be able to be rebuilt until summer, which is expected to lead to a catastrophic
situation where gas storage in winter reaches zero. Therefore, stable energy supply and demand are being

prioritized.

As stable energy supply and demand take precedence amid rising energy prices, decarbonization policies may
be pushed to the bottom. In fact, some European countries, including Germany, are canceling plans to close
coal mines and increasing fossil fuel production in their countries. In addition, countries around the world have

temporarily suspended the conversion from fossil fuels to renewable energy. In other words, some European
countries do not mind causing environmental problems to cope with the energy crisis. In fact, German officials
announced that they could extend the use of coal-fired power plants, which had been planned to close by 2030.

The Netherlands also considered halting its decarbonization policy by increasing its fossil fuel production
or seeking non-Russian sources to secure stable energy. In addition, other countries like Italy, Romania, and