The Southern Hemisphere Will Suffer Most From Europe’s Energy Crisis

In no uncertain terms, we are facing the 'first truly global energy crisis' according to a new report from the International Energy Agency (IEA). While Europe is the epicenter of the current volatility and scarcity in energy markets, the problem is far from isolated. Continuing to refer to the current circumstances as “Europe’s energy crisis” is not only myopic, but potentially dangerous for the countries that stand to lose the most, almost none of which are on the European continent.  According to IEA director Fatih Birol,…