The recent dispute over natural gas between Russia and Ukraine has many considering whether the role of natural gas and related exchange traded funds (ETFs) needs to be revised. Some view the trouble as a wake-up call for the European Union to boost energy efficiency.
The World Wildlife Fund (WWF) thinks that a fuel that is used as a weapon by some countries can no longer be promoted, reports China View.
As of Tuesday, there are a few European countries that do not have a supply of natural gas, as their allowance had been cut or reduced over disagreements between Russia and Ukraine. CNN/Europe reports that Gazprom, the Russian energy giant, had shut three of four export pipelines that take natural gas through Ukraine to the rest of Europe, significantly reducing supply.
Gazprom denies this and claims that the Ukraine is at fault for the shut down. Likewise, Russian natural gas flow to Austria has dropped by 90% amid the disputes between Moscow and Ukraine. Oil and gas recerve shave been utilized to make up for the shortcoming.