With Russian output shut in, U.S. producers could gain market share even as world hastens shift to renewables

The surge in global energy prices triggered by Russia’s invasion of Ukraine sure doesn’t seem like any sort of blessing. It has driven up inflation, squeezed household budgets and battered President  Biden’s approval ratings. And yet for Mr. Biden, there may be a silver lining. Higher prices, if sustained, could reduce global fossil-fuel consumption and encourage the shift to zero-emission energy. At the same time, sanctions and boycotts on Russia pave the way for U.S. oil-and-gas producers to expand market share.

How High Energy Prices Could Help Both the Climate and the U.S.

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