Due to the war Russia started in Ukraine, the world is facing several challenges. Besides the obvious humanitarian crisis in Ukraine, the most prominent challenge is the energy crisis. The rising cost of energy causes an inflation rate for our day-to-day spending in many parts of the world that we have not seen for decades. The main reason for this rise is the seemingly ever-increasing price of gas. At the time of writing, the gas price was at least € 280 per megawatt hour compared with less than € 30 per megawatt hour a year ago. As I wrote in my note for our March/April 2022 issue, Putin is (most likely) also using the gas deliveries to European countries as a political instrument. Because the gas and electricity prices are coupled, the electricity price has also seen a sharp increase. The European Commission has already suggested decoupling these prices since electricity is being generated more and more by other sources, like renewable energy, which is less dependent on gas prices. As I have said before, renewable energy might be a way out of this energy crisis, and it looks like governments are thinking along these lines as well.