Why is there a global energy crisis and who might suffer most from it?

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Why is there a global energy crisis and who might suffer most from it?
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Russia's invasion of Ukraine has led to soaring energy prices, threatening supply to the world's poorest.

The price of natural gas was rising even before the outbreak of the war. As countries emerged from Covid lockdowns, industries started using much more of it.

Coal prices have also risen sharply - tripling over the past year. That's because with the shortage of gas, many power stations around the world have switched to using coal. instead. Oil, the third major fossil fuel energy sources, has also risen in price as EU members, along with countries such as the UK and US, have banned purchases of Russian oil.The price is now at levels of between $90 and $95 a barrel.

The IEA says this year's energy crisis is worse than the oil price shocks of the 1970s because it involves not just oil but natural gas and coal, as well. It is also affecting the lives of many more people around the world - and especially in developing countries.

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