The global energy crisis is currently an increasingly urgent and relevant issue for various countries in the world. One recent development that stands out is the transmission from dependence on fossil fuels to renewable energy sources. The rise of renewable energy such as solar, wind and hydro is a major highlight in efforts to combat this crisis. Countries such as Germany and China have demonstrated a major commitment to investment in the renewable energy sector, reducing carbon emissions and increasing energy efficiency. Furthermore, geopolitical conflicts also contributed significantly to this crisis. Tensions between energy-producing countries, such as Russia and Western countries, have disrupted global energy supplies, causing oil and gas prices to spike. Energy that was initially stable has now become highly vulnerable to fluctuations caused by political policies and shifts in global power dynamics. On the other hand, energy storage technology is developing rapidly. Innovations in lithium-ion batteries and other energy storage technologies are increasingly enabling renewable energy systems to compete competitively with traditional energy sources. This allows consumers to store energy from renewable sources, giving them more control over their daily energy use. The energy crisis has also spurred many countries to increase the efficiency of energy use. Energy savings programs, such as replacement of energy-saving lighting and better building insulation, are being implemented in various locations. It is hoped that these steps can reduce energy consumption while lowering costs for consumers. At the international level, the COP28 meeting scheduled to be held at the end of this year is an important platform to discuss countries’ commitment to overcoming the energy crisis. The main agenda is the progressive reduction of carbon emissions, as well as achieving the targets of the 2015 Paris climate agreement. Investment in new technologies is also increasing, especially in the development of green hydrogen energy. Hydrogen is considered a potential solution for storing energy and providing a cleaner fuel alternative. Many companies, including automotive and energy giants, have invested heavily in research and development of hydrogen as an energy source. Furthermore, the integration of smart energy systems and smart networks is also increasingly being implemented. This technology helps in the management of energy use and more efficient distribution, reducing waste and improving response to changing energy demands. By adopting these measures, countries are trying not only to overcome the energy crisis, but also to provide energy security for future generations. New policies, programs and innovations will be key in the journey towards a more sustainable and efficient energy system.

The current global energy crisis has triggered significant price increases in various sectors, and the impact is being felt throughout the world. This crisis is caused by several key interrelated factors, including geopolitical tensions, post-pandemic economic recovery, and increasing demand for renewable energy. First, geopolitical tensions, especially between oil-producing countries, are a major factor. Conflicts such as the Russia-Ukraine tensions have disrupted energy supplies from one of the world’s largest oil producers. International sanctions against Russia have caused a spike in crude oil prices that has affected global energy costs. Research shows that when Brent Crude records price increases, the transportation and distribution sectors immediately respond with price adjustments. Second, the global economic recovery after the COVID-19 pandemic has resulted in a surge in energy demand. Countries are starting to reopen sectors of their economies, increasing overall energy consumption. According to a report from the International Energy Agency (IEA), oil demand is expected to increase along with economic growth. This increase in demand contributes to price pressure, considering that many countries are still experiencing limitations in production capacity. Furthermore, the transition towards renewable energy also plays an important role. Despite the growth of renewable energy sources such as solar and wind, infrastructure and technology are not yet fully ready to meet global demand. Building green energy projects requires large investments, and currently, dependence on fossil fuels remains high. Recent reports show that despite increasing investment in renewable energy, supply chain and resource issues remain obstacles. In addition, rising energy prices have an impact on overall inflation. Energy costs affect the prices of goods and services, creating a domino effect throughout the economy. For example, higher transportation costs impact the prices of food and other consumer goods. Central banks in various countries are now facing the challenge of stabilizing inflation, with some countries considering raising interest rates as a precautionary measure. Meanwhile, the industrial sector also felt a significant impact due to rising energy costs. Companies that rely on traditional energy are under pressure to increase efficiency while reducing their carbon emissions. Many companies are starting to invest in energy efficiency technologies to reduce their dependence on expensive energy sources. Rising energy prices also have far-reaching social impacts, with rising utility rates affecting low-income households. Many states or localities around the world are seeking to provide subsidies or assistance to help communities cope with surging costs. This policy is often the subject of public debate, relating to priorities for budget use. Looking ahead, forecasts suggest that global energy markets will continue to fluctuate in the short term. This price increase could be an opportunity for technological innovation and sustainable environmental development. Efforts to increase energy efficiency and diversify energy sources will be key in facing this challenge. The government and private sector need to work together to create policies that support a more stable and sustainable energy transition.