Gasknappheit und Wirtschaftspolitik in Deutschland

Martin Hellwig

Zeitschrift für Wirtschaftspolitik, 2022, vol. 71, issue 2, 148-158

Abstract: The article discusses the German government’s reaction to the perception of an excessive dependence on Russian gas that was caused by the Ukraine war and to the reductions in Russian gas supplies that have taken place. First, the article lists various policy deficits: Naivité of the expectation that Russia would watch German attempts to reduce its dependence without interfering, restricting thinking about gas scarcity to the mobilization of additional supplies, without paying much attention to demand, complete neglect of the allocative role of prices, finally an inability or unwillingness to communication the bad news to the population that we have become poorer. Thereafter, the article addresses some of the difficulties that stand in the way of flexible price adjustments, existing contracts as well as social concerns. Finally the article discusses the concept of supply security, indicating the difference between private and social concerns, and pleading for an assumption of government responsibility for those concerns that cannot be expected to be met by private suppliers.

Date: 2022
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DOI: 10.1515/zfwp-2022-2079

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