The global energy crisis is a complex problem that has a broad impact on the international economy. Various factors such as geopolitical conflicts, climate change and post-pandemic economic recovery are contributing to the spike in energy prices. High oil and gas prices not only affect consumers, but also force countries to review their energy policies. Since the beginning of 2022, global energy prices have skyrocketed due to geopolitical tensions, especially the war between Russia and Ukraine. European countries dependent on energy supplies from Russia face tough challenges in finding alternatives. This has encouraged a number of countries to accelerate the transition to renewable energy sources, although in the short term, dependence on fossil fuels is still high. The impact on the international economy is very significant. Energy importing countries, especially in Europe, are facing rising inflation and resulting monetary policy adjustments. For example, the European Central Bank raised interest rates to tackle inflation fueled by high energy costs. This move has the potential to slow economic growth, causing fears of a recession in some countries. On the other hand, energy-producing countries, such as Saudi Arabia and Russia, benefit from rising prices, increasing their countries’ income. However, geopolitical uncertainty remains a challenge, given the potential for sanctions that could impact international trade. The industrial sector, including manufacturing and transportation, was also impacted. Rising raw material costs and increasing logistics costs encourage companies to increase product prices. This increase has the potential to reduce consumer demand, creating a negative cycle in the economy. This crisis has also encouraged the government to invest in energy innovation and green technology. Many countries, including Japan and China, are seeking to reduce their dependence on fossil energy while accelerating the development of renewable energy. Additionally, international cooperation in research and advocacy for sustainable energy policies is increasingly necessary to create long-term solutions. The global energy crisis is also affecting the financial sector, where unstable commodity prices can trigger volatility in stock markets. Investors have become more cautious, and many have turned to assets that are considered safe, such as gold and government bonds. This crisis highlights the importance of diversifying energy sources to increase economic resilience. Countries that still depend on one or two types of energy sources are vulnerable to external shocks. Therefore, the adoption of renewable energy sources and energy efficiency has become strategic for many countries to overcome this crisis. Global economic growth may be hampered in the short term, but this crisis is also an opportunity to advance international dialogue and cooperation in facing climate challenges. Initiatives in line with net carbon emissions targets can shed new light on a more sustainable energy paradigm. The global energy crisis has far deeper impacts than just the economy. He raised awareness of the importance of sustainability, innovation and adaptation in facing future energy challenges. The current transformation is a valuable lesson for future generations about how to manage resources for the common good in the international arena.
