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Ukraine crisis exposes West's abysmal understanding of energy markets

Time to put an end to the weaponization of global energy supplies

| Europe
The receiving station for the Nord Stream 2 gas pipeline near Lubmin, Germany, pictured on Feb. 2: the EU needs to implement a watertight plan for the continent's energy security.   © Getty Images

Vandana Hari is founder of Singapore-based Vanda Insights, which tracks energy markets.

In their escalating conflict with Russia over Ukraine, political leaders in the U.S. and Europe have demonstrated an abysmal lack of understanding of the basic principles of oil and gas markets, as well as energy security.

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