Ships are fleeing the Red Sea, the target of Houthi attacks and now of the military response by the US and allies in Yemen. The effect is a lengthening of trading times on the Asia-Europe route, but above all an inevitable consequent increase in the prices of transported goods.
The Red Sea crisis jeopardises, among others, the passage of gas and diesel and, if all goes wrong, this will lead not only to an increase in these two items but to a cascade increase in everything, starting with electricity and gas.
Twelve per cent of the world’s trade and as much as 40 per cent of Italy’s import-export passes through this stretch of sea, a substantial slice of which is accounted for by fossil fuels.
In a report on the risks of the crisis for Italy’s energy security, Greenpeace commented: ‘Instead of investing in a sustainable future, Italy has limited itself to accumulating fossil reserves, without any attention to the climate emergency and geopolitical balances. And now it faces the risk of a new energy crisis’.
As with the ongoing conflict between Russia and Ukraine, the consequences can affect all sectors, including the many Italian companies. One long-term solution is to invest in energy efficiency, reducing energy and maintenance costs and CO2 emissions.
Fuel prices, for the time being, remain cool, suffering no particular setbacks, and speculation seems to be bearish. On the horizon, however, especially if this crisis perpetuates, nothing good can be seen.
For this reason, focusing on energy efficiency is always the winning move, as it allows one to protect oneself against these risks: Quantum carries out operational ‘turnkey’ energy efficiency interventions targeted at lighting systems, using consolidated methodologies and applying innovative technologies connected to the Internet.
Sources: ilsole24ore.com