What began as a “global energy crunch” one year ago, as we discussed with Will Kennedy in Episode #158, has now become a global energy crisis. It is putting energy consumers into severe financial distress and forcing governments around the world to intervene in all sorts of unprecedented ways, as we discussed in Episode #181, “Command Capitalism.” For much of Europe, it will be a very tough winter. In this episode, Will returns to the show to explore the turmoil in energy and capital markets around the world, as well as how governments are responding to the crisis. We’ll also try to anticipate what will happen next. As we sketch out, this crisis will ultimately accelerate the energy transition because that is truly the only way out of this mess. But it won’t be a straight path, it won’t be quick, and it won’t be easy. This is a deep, dense, 90-minute-long conversation, so if you’re not a full subscriber yet, this would be a good time to join us! There are also more than 100 source references in the show notes for this episode, so be sure to log into our website using your subscriber credentials and check them out.