As part of the usual cycle of conferences promoted by Professor António Duarte Santos, professor at the Department of Business Economic Sciences.
According to the definition contained in Decree-Law No. 114/2001, an energy crisis situation is characterized by the occurrence of difficulties in the supply or distribution of energy that make it necessary to apply exceptional measures to guarantee supplies essential energy resources for defence, the functioning of the State and priority sectors of the economy and the satisfaction of the fundamental needs of the population. If this veracity expresses what an energy crisis is, then, practically all over the world, we are confronted with a truly global reality. It manifests itself in high relative energy prices, fuel shortages, rising relative household poverty and slowing economies. Energy markets began to compress in 2021 due to a variety of factors, including the extraordinarily rapid economic recovery following the recent health-borne pandemic. But the situation escalated dramatically into a global energy crisis after the start of the conflict in eastern Europe, which began just over a year ago. The price of natural gas reached record highs and, as a result, so did electricity in some markets. In 2022, oil prices reached the highest level since 2008. In this Conference, the Portuguese case will be analyzed in terms of its origins, consequences and management by public decision-makers. It will show and explain how we will deal with this crisis and its social disturbances.
Speaker:
Engineer Luís Mira Amaral
Engineer and Economist