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Photographer: Peter Boer/Bloomberg

Goldman Warns of Blackout Risk for European Industry This Winter

  • Cold weather could worsen gas crunch, prompt power cuts
  • Europe hasn’t had widespread industrial blackouts since 1970s

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Europe’s soaring energy markets are exposing the risk of power blackouts this winter, especially if freezing weather worsens the region’s already exceptionally low natural gas inventories, according to Goldman Sachs Group Inc.