Europe’s Race to Secure New Energy Sources Is on a Knife’s Edge
As Russia tightens its chokehold on supplies of natural gas, Europe is looking everywhere for energy to keep its economy running. Coal-fired power plants are being revived. Billions are being spent on terminals to bring in liquefied natural gas, much of it from shale fields in Texas. Officials and heads of state are flying to Qatar, Azerbaijan, Norway and Algeria to nail down energy deals.

Across Europe, fears are growing that a cutoff of Russian gas will force governments to ration fuel and businesses to close factories, moves that could put thousands of jobs at risk.

So far, the hunt for fuel has been met with considerable success. But as prices continue to soar and the Russian threat shows no sign of abating, the margin for error is thin.