Big story: The European Union will classify natural gas and nuclear as “green” for investment purposes – a proposal that will help channel billions of dollars of private-sector investment into those two energy sources, and away from wind and solar – which the Europeans discovered many years ago are not a scalable source of reliable energy.
This comes as Europe faces an energy crisis this winter with soaring prices and the danger of Russian cutoffs of gas shipments over the Ukraine dispute. Germany has closed its nuclear power plants and is burning coal instead, which substitutes a zero carbon energy source with a clear pollutant. (You can’t make this stuff up!)
This latest smart decision by the EU to shift toward what we call the two N’s – nuclear and natural gas.
Predictably, the EU is under attack from its radical green government members. Austria and Luxembourg are threatening to sue the EU over the rules.
Since America has more clean-burning natural gas than any other nation on earth, we should shift from wind and solar to natural gas (and clean coal) – immediately.
Amazingly, investment firms like BlackRock and Vanguard have distributed an open letter to the EU claiming that including natural gas as a green investment would, “seriously compromise Europe’s status as a global leader in sustainable finance.”
That’s absurd. Wind and solar power without taxpayer subsidies are two to three times more expensive than natural gas. How is that “sustainable?”