4 ms·
By making energy prices high you are sabotaging European industry and economy in the international competition. High energy costs make EU net importer as can be
by leonidasrup 7mo ago
By making energy prices high you are sabotaging European industry and economy in the international competition. High energy costs make EU net importer as can be seen here:
https://tradingeconomics.com/european-union/balance-of-trade https://tradingeconomics.com/european-union/balance-of-trade
https://tradingeconomics.com/commodity/eu-natural-gas https://tradingeconomics.com/commodity/eu-natural-gas
By "transition", you mean transition to renewables? It's quite possible that by increasing share of solar and wind renewables (there is not much potential for hydropower expansion if Europe) we just:
1. don't decrease electricity price in the long term. Backup power plants, big expansion of grids to transport renewable electricity over long distances are quite expensive (remember the $400bn price tag for Desertec). To encourage decarbonisation we need much, much cheaper electricity cost - we are competing with cheap Chinese coal.
2. become even more dependent on China. 95% of PV is produced in China. China is strongly pushing for export of Chinese wind turbines. Politically, I don't see much differences between governments in Russia and China.
https://ecfr.eu/publication/last-gasp-securing-europes-wind-industry-from-dependence-on-china/ https://ecfr.eu/publication/last-gasp-securing-europes-wind-...
3. don't decrease consumption of fossil fuels. Renewables need reliable backup, that's mostly provided by fossil fuels. Uncompetive energy prices will cause European industry to move to other regions and Europe will become a mix of agricultural and service economy. That's already happening now:
https://www.reuters.com/world/china/basf-touts-bumper-china-projects-long-term-payoff-2026-03-21/ https://www.reuters.com/world/china/basf-touts-bumper-china-...
Decarbonisation is world wide problem and has to be solved world wide. For example if country A, B, C each decrease CO2 emissions by 2 millions tons of CO2 and country D increases CO2 emissions by 6 millions tons nothing is gained for the atmosphere (or maybe the voters in countries A,B,C will feel better, because they personally are doing something).