What higher, volatile energy prices mean for clean energy transition


Wind power in Texas. Interstate 40, Adrian, Texas

Paul Harris | Archive Photos | Getty Images

After Russia invaded Ukraine, energy prices spiked. U.S. crude oil prices reached as high as $130 on March 6, the highest since July 2008. About a week later, U.S. gasoline prices hit a record high price of $4.33 per gallon. Around the same time, natural gas futures in the European Union hit a record high of €345 per megawatt-hour.

In the time since, gas prices and natural gas have come off their highs and gas prices should come down eventually, though slower than President Joe Biden would like.  

Higher and more volatile energy prices will be a catalyst for individual and global efforts to…


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