Published 10 November 2021
The worldwide energy critical situation is considered and analyzed in theory and practice. Energy demand (consumption) and supply (reserves) are scrutinized. The recent (2021) energy prices and major global supply disruptions are shown. The article mainly concludes that the timing of the next global energy crisis cannot be predicted exactly and, if not for another tension of the South-North relations, the currently available energy resources well cover global energy needs to avoid a soon energy crisis.
Key Words: Energy, oil, prices, crisis, global, supply disruption, price elasticity of demand, prediction, the USA