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Should We Stop Worrying about Europe’s Reliance on Russian Pipeline Gas?
Today, Cato released a new Policy Analysis by Scott Semet on the enduring consequences of cutting off Europe (and the world) from Russian natural gas. Last year, Europeans were very anxious about the winter of 2022–23; thankfully, the combination of an extremely mild winter on the continent, a deliberate decision to throttle industrial output, and frantic efforts to buy up liquefied natural gas (LNG) from other countries helped Europe muddle through better than most observers feared, although poorer countries, like Pakistan and Bangladesh, that would otherwise would have bought that LNG, experienced rationing and ... (full story)