Just as we saw light at the end of our energy crisis tunnel, Eskom turned the lights out again – but there was even more ominous news from Europe.
Countries in the European Union and the UK, heading towards winter, are facing huge increases in heating costs, which threaten not only to cripple their economies but could also put thousands of poor people at risk of death due to the cold.
That’s all because, apparently, the West’s sanctions against Russia, over its invasion earlier this year of Ukraine, are backfiring. The conflict has sent oil prices soaring – although they have declined slightly recently – but it has also seen the Russians drastically cutting supplies of gas to Europe.
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This will, in turn, have a domino effect on other fuel and commodity prices around the world … which means us. The ineffectiveness of sanctions against Moscow is paralleled by Russian moves to start crafting a second centre of global strategic and economic power in opposition to the West.
If that comes to fruition, the entire world will change. And, no doubt, the developing world (us, again) could get caught up. As the African proverb says: When the elephants fight, it is the grass which is crushed.
