The world is getting an early warning signal on just how dangerous the reckless abandonment of fossil fuels in favor of solar and wind power can be. The U.S., which is abandoning the goal of energy independence under President Biden, should take note.
Energy prices in Europe are repeatedly breaking records even before winter kicks in, and it will only get worse.
Price spikes in Britain last month forced some factories to cut production and seek state aid. There and across Europe plans are being made to ask families to use less energy this winter or face rolling blackouts.
Then there is Russia, which on the one hand promises to start sending natural gas through the new Nord Stream 2 pipeline to Germany. After several months of withholding supplies, Moscow finally began increasing deliveries in early November. But it’s unclear if Russia can be counted on to deliver enough gas to avoid a European energy shortage. The Financial Times has reported that Europe is “held hostage” to Russia on energy supply.
Shifting to wind and solar is putting shackles on economies, reducing the standard of living for ordinary families and foreign new shackles on the independence of nations.
Europe is now moving away from green energy, while we repeat their mistakes.