…EU’s Self Inflicted Wound…
EU’s natural gas storage is at 40% of capacity, the lowest in years. As a result, LNG is being imported at the highest price ever, at over $30 per Million BTU, with shipments being diverted from Asia.
EU envoys visit Qatar to beg for more gas.
Dutch Minister Stef Blok complains that Germany uses too much natural gas from the Groningen field in The Netherlands.
Meanwhile, Russia stands ready to shut off one-third of Europe’s natural gas supplies.
These shortages of natural gas didn’t have to happen.
According to the Energy Information Administration (EIA), Germany was the largest user of natural gas in Europe, where natural gas represented 25% of Germany’s total energy consumption.
Germany has been leading the way toward Europe’s self-destruction with Germany’s energiewende program and efforts to eliminate the use of fossil fuels.
Germany led Europe to ban fracking, which could have alleviated Europe’s dependence on Russia for natural gas. The EIA estimates over 400 trillion cubic feet of natural gas potentially available in the EU, which compares favorably to the EIA’s 600 tcf for the United States.
Germany has just shut down three of its nuclear power plants that could have helped alleviate this winters crisis. And that absurdity continues with Germany’s last three nuclear power plants scheduled to be shut down by the end of this year.
Europe’s fixation on achieving net-zero carbon by 2050 has created Europe’s natural gas shortages. Continuing with its net-zero carbon objective will create even greater problems for Europe.
The United States must avoid similar disastrous behavior. The book Net-zero Carbon, The Climate Policy Destroying America provides the facts Americans need to reject net-zero carbon policies.
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It’s obvious that government is the problem. A “free” market would fix this problem very quickly.
That’s for sure.
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