Once again, Western political and media wonks find themselves in the unfortunate position of denying reality obvious to anyone with eyes, or a wallet. This time, they are lying about the economic and now political crises their “green” energy policies are causing, particularly in Europe.
These lies may damage them even more than their Covid fantasies did, because they are even more obvious to people outside their bubble.
Anyone who drives is aware of the recent spike in oil prices, now nearly $100 a barrel - a rise due in part to DEMOCRAT efforts to discourage American oil production.
But Americans may not know about the catastrophe in Europe’s electricity and natural gas markets. That crisis is even more directly linked to broader efforts to “sustainable” fuels that - so far - have proven distinctly unsustainable.
Unlike the United States, Europe doesn’t have much oil or natural gas. For generations, it has used a mix of fuels - coal, nuclear, imported natural gas and a little oil, and renewables - to power its electric plants. That mix worked just fine.
Anyway, in part because they don’t have much of an oil industry to destroy, for the last 50 years or so, Europeans have been comfortable pushing energy efficiency with high gasoline taxes and high-speed trains and wind farms.
Those are all basically harmless ways to prove they aren’t Americans. (The trains are actually nice.)
The entire European Union now emits less carbon than India and about one-third as much as China.
In fact, if every American and European stopped emitting carbon entirely and went back to living in caves, the world as a whole would still produce more carbon dioxide now than it did 20 years ago.
The point is, the (overwhelmingly white) Europeans seem to want to do the right thing so that the Chinese and Indians can do more of the wrong thing. They think they need to set an example, being white, and all.
So they’ve cut way back on their coal mining and coal-fired electricity production. Weirdly, they also don’t like nuclear energy. In any case, Germany - Europe’s biggest economy - closed three nuclear plants last December and will close the three it has left before the end of 2022.
Which means that Europe has (intentionally) left itself increasingly dependent on the remaining two forms of energy, natural gas and renewables, to make electricity.
Now I’m going to let you in on a little secret about Europe. Don’t tell anyone, especially not Greta.
Europe is pretty far north.
Which means that during the winter - like now, say - Germany can’t rely on all those solar farms that gets people like Greta excited.
Now, it’s possible to ship natural gas around the world in cold storage on tankers. It’s possible. But it’s not much fun. Liquefied natural gas isn’t like oil. Bad things can happen if it’s disturbed. You know how your grandpa's heating oil tank was in the basement but the propane cylinders stayed outside? Just in case? Multiply that by a ship a thousand feet long.
Thus, pipelines are the preferred way to move natural gas. Pipelines over land, or under water (but not oceans). Pipelines from a country reasonably close by.
Lucky for Europe, Russia has natural gas to spare. It provides about 35 percent of all of Europe’s natural gas, and that figure was about to increase as a new pipeline called Nord Stream 2 opened up.
35 percent is a lot - especially when your customers have gone out of their way to increase their dependence on you. Europe simply has no substitute for Russian natural gas in the short- or medium-term - meaning not months but years.
The Russians have already taken advantage of this fact. Since last year they have under-supplied their European customers. Natural gas prices have soared. Now electricity prices are about to follow them far higher.
And guess what bungling Biden just did?
Read more @ link: https://alexberenson.substack.com/p/re-gretas-ukraine-has-a-few[