"The energy landscape has recently changed. Many European countries
release new rules for the energy transition towards a less
carbon-intensive production mix, while environmental markets are being
reformed. Energy consumption in Asia is forecasted to have a rapid
growth, thus attracting commercial transactions and investment waves.
The United States exploits unconventional gas and oil to overcome their
supply dependency, which instead is still at stake in Europe. In terms
of energy supply security, the Ukrainian crisis has shown that energy
efficiency and increased deployment of renewables have been so far
insufficient to eliminate Europe’s reliance on Russian gas supply. These
phenomena altogether contribute to making more volatile energy prices,
with sudden jumps in their levels. The debate about the financialization
of energy commodities revamps both in the United States and in Europe.
In countries where markets are not developed yet, like Africa, energy,
water and raw materials remain at the hearth of several conflicts."