Western leaders underscore the urgency of energy independence as Russia’s war escalates

Low energy, high stakes... Western countries have piled on financial sanctions to punish Russia. One thing they haven’t touched: energy exports. Oil makes up a third of Russia’s economy, and the West is still buying its oil and gas. Here’s why:

• Europe depends on Russia for 41% of its gas supply. The EU has focused on transitioning to renewables like hydro, wind, and solar — but those cover less than a fifth of its energy needs.
• The US is the world's top oil producer (one-fifth of global supply), and doesn't get much from Russia. But it’s also the largest oil consumer, using up even more than it produces (think: long drives, big trucks, blasting A/C).

Declaration of (energy) independence... So far, sanctions haven't slowed Russia's attack. But if the West stopped buying Russian fuel, it could crush Russia’s economy. The problem: the West can't sanction Russian energy without also crushing Europe’s supply. Germany, which is most dependent on Russia, said its lights “will go out.” In the US, gas prices could soar even higher. Cue:

• The West’s focus is shifting to energy independence — when a country produces enough fuel to meet its own needs and eliminates foreign reliance.
• The EU is set to unveil a proposal to become energy independent (read: no Putin necessary). Long term, it could mean dramatically expanding renewables and zero-emission sources like nuclear and hydrogen.
• The US can produce more, but President Biden’s climate policies and oil giants’ reluctance to boost supply have pushed oil production below 2019 levels. GOP leaders are urging Biden to drill, but nuclear and renewables are more sustainable.