Piotr Arak: This moment could be more groundbreaking than the shock after the attack on Ukraine

Rzeczpospolita highlights a critical shift in Europe's energy landscape, moving beyond mere price fluctuations to the stark reality of potential shortages. The ongoing disruptions in the Persian Gulf, specifically impacting the Strait of Hormuz—a vital artery for global oil and LNG trade—have transformed from a regional issue into a palpable European fear. This isn't just about the cost of energy anymore; it's about its availability.

The article points out that Europe is now forced to re-evaluate its consumption and supply chains with a granularity not seen in years, meticulously tracking energy in units like liters, barrels, and cubic meters. This return to basic resource calculation underscores the severity of the situation, suggesting that the comfortable energy abundance of recent times is under serious threat. The implications for European economies, industries, and daily life are profound, demanding a strategic reassessment of energy security and diversification.

Furthermore, the piece casts a critical eye on fiscal policy, particularly in Germany. It questions whether recent displays of fiscal responsibility are a genuine commitment to sound financial management or a reluctant consequence of severely diminished financial maneuvering room. This skepticism suggests that Europe's economic resilience is being tested not only by external energy shocks but also by internal fiscal constraints, potentially limiting its ability to respond effectively to the unfolding crisis. The confluence of energy insecurity and fiscal limitations presents a complex challenge for the continent.