Europe is doubling down on their renewable energy insanity, despite Russia’s President Putin threatening at any moment to permanently shut down Europe’s gas supply.
‘Prepare for total cut off’ EU in crisis as Russia threatens supply – but UK has lifeline
THE EUROPEAN Union has been scrambling to secure its energy by rationing supplies after Russia threatened to cut off exports completely.
08:17, Mon, Jul 11, 2022 | UPDATED: 08:17, Mon, Jul 11, 2022
France’s economic and finance minister has warned that Russian President Vladimir Putin will most likely cut off gas supplies to Europe as a response to the sanctions imposed by the EU. The French minister warned that this move could spark chaos across the continent, as countries have reportedly begun making planned lists of companies which will get priority access to energy supplies in the event of a severe shortage.
Fears of a complete cut-off have intensified after Putin threatened to trigger a “catastrophic” energy crisis if Western powers continue to press sanctions on Moscow.
In a speech on Friday, he admitted that while the sanctions imposed by the West have hurt Russia’s economy, he pointed out that the record inflation and cost of living crisis “reveals, once again, that sanctions on Russia end up causing much more harm to those countries that impose them.
“The further use of sanctions could lead to even more severe consequences, even, without exaggeration, catastrophic consequences on the global energy market.”
Anyone who thinks Putin can’t afford to do this, think again. China and India are buying energy from Russia as quickly as Russia can ship it, so much so that Russia is now China’s biggest oil supplier. Russia can live without the income it currently receives from sales of gas to Europe.
Despite this credible threat of an imminent energy supply collapse, Europe is doubling down on their renewable energy insanity.
The sane response would be for Europe to divert all available cash to developing shale gas and coal resources, to start producing more domestic gas as quickly as possible. But this simply isn’t happening on the scale required to stave off disaster.
Despite decades of green failure, which has left Europe utterly dependent on Russian gas, Europe’s leaders still believe in fairy tales. Europe’s leaders continue to embrace the fantasy that renewable energy is a viable option for powering Europe.
via Watts Up With That?
July 13, 2022 at 04:15AM