Europe's embrace of Big Green leads to energy poverty
With the recent rise in the price of natural gas in Europe to five times where it was in early 2021, expect to see many more Europeans and those in United Kingdom plunged into what’s known as “energy poverty.”
From Greece to Great Britain and everywhere in between, the European electricity grid has increasingly been delinked from reliable affordable fossil fuels and hooked up to more expensive and intermittent wind and solar projects.
One result is Europeans pay twice for generated electricity: once for the existing sunk costs of existing fossil fuel (and nuclear in some countries) projects and again for renewable-based electricity projects. Another result is when wind and solar are not available, multiple nations in Europe and elsewhere are chasing the same available oil, natural gas and coal, pushing those fuel prices dramatically higher.
Canadians — and indeed everyone else around the world — should pay attention. That’s because what Europeans are enduring and will suffer through again this winter will intensify thanks to what governments worldwide are pushing at the 26th UN Climate Change Conference of the Parties (COP 26) at Glasgow, Scotland: An even faster assumed “phaseout” of fossil fuels.
But it’s just that past policy preference that has caused substantial energy poverty in Europe even before the price spike this autumn. (For those unfamiliar with the term, energy poverty is all about citizens too poor to pay their utility bills on time and/or keep their homes adequately warm).
Stephen Bouzarovski, a University of Manchester professor and chair of an energy poverty working group, estimated pre-pandemic, 80 million Europeans were already struggling to adequately heat their homes. Meanwhile, at least 12 million European households were in arrears on their utility bills.
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The US can expect similar results from the Democrats' push for the Green New Deal, which is a bad deal for those stuck with inefficient and unreliable alternative energy. This is one of the consequences of overselling "climate change."
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