"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."