https://www.wsj.com/articles/energy-and-american-power-vladimir-putin-russia-ukraine-joe-biden-fossil-fuels-energy-11645902803?mod=opinion_lead_pos1
Russia’s invasion of Ukraine is a 3 a.m. wake-up call to President Biden and America’s liberal political class: Cease your war on U.S. energy. Europe’s climate obsessions have rendered it vulnerable to Vladimir Putin’s extortion, and the U.S. is in danger of repeating that tragic mistake.
No less than Igor Sechin, CEO of Russia’s state-owned Rosneft, warned Europe last summer: “Some ecologists and politicians urge for a hasty energy transition, yet it requires an unrealistically fast launch of renewable energy sources and faces issues with storage, ensuring reliability and stability of power generation.”
Europe’s hefty renewable subsidies have rendered nuclear and coal power economically uncompetitive. Governments have also forced loads of nuclear and coal plants to retire prematurely, believing wind and solar could replace them. Hello? Renewables don’t provide reliable power 365 days a year, 24 hours a day.
Europe has been left to rely increasingly on natural gas to keep the lights on. But governments have effectively banned hydraulic fracturing, which would have let them charge their economies with domestically produced gas. Europe now imports almost all of its gas, with 40% coming from Russia.
Sluggish wind last summer sent natural gas demand and prices soaring. Some manufacturers had to shut down. Then Russia slowed gas deliveries, limiting Europe’s supply heading into the winter. Strategic advantage: Putin.