Across the world, there have been more than 8,200 protests and riots in response to the rising cost of living in the first seven months of this year alone. Although the actors involved represent broad, heterogeneous demographics, there are some clear patterns and takeaways that have already emerged.
As European countries prepared for a sharp drop in natural gas supplies and an impending energy crisis, the Netherlands announced it would slash production at one of the world’s largest natural gas fields. The announcement reflects the competing priorities across Europe, pitting climate goals against the energy crisis.
OPEC+ announced last week that it will cut oil production by 2 million barrels per day starting in November, driving up prices globally. The U.S. responded by framing the cuts to oil production as a nakedly self-serving move that will benefit Russia, singling out Saudi Arabia as the ringleader of that collective effort.
