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Jun 17, 2021 Texas and California are at risk of blackouts as a sprawling heat wave smothers the western U.S. Cities across China’s industrial heartland are rationing electricity. European power prices are far higher than usual for this time of year. Droughts are drying up reservoirs from Brazil to Taiwan. Welcome to the future of rising temperatures and the escalating fight just to keep lights on. Mix extreme heat and longer droughts, surging post-pandemic power demand, rising fossil fuel prices and a bumpy transition into renewables, and the result is a severe global power crunch. For millions of households and businesses around the world it could be a long, hot summer of higher bills, periodic rationing and, in the worst case, blackouts. Higher energy costs will also add to the inflationary pressures coursing through the global economy.

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