Can Europe keep the lights on this winter?

war is becoming total. Having already banned or promised to ban imports of Russian oil, leaders of the 7 group of countries said on June 28th that they would explore ways to cap its price, as well as that of Russian gas. Populations are being prepared for pain. Britain has hinted that it will reform its power market to curb the influence of natural gas on domestic prices. French utilities have called on consumers to cut energy use “immediately”. One goal of such manoeuvres is to deprive Russia of much-needed revenue. Another is to try to ward off the energy crunch that looms over Europe. Only a month ago it looked like a crisis might be avoided—just. As America cranked up its exports of liquefied natural gas (), its share of Europe’s total gas imports rose from 6% in September to 15% in May, even as Russia’s slumped from 40% to 24%. What gas Europe needed from its troublesome neighbour still flowed. Russia did turn off the taps to Bulgaria, Finland and Poland after they refused to pay in roubles, as it had demanded, but they bought little in the first place. The continent’s reserves were building up at a record pace.