I work as an analyst in commodities and am a Geologist by background. Since the 1980’s I have been writing articles about climate change – how it is almost entirely natural and certainly NOT driven by CO2. However, its been a losing battle as most people haven’t a clue other than what they hear on the BBC etc. For the last decade or more, I have been warning that the energy transition would result in chaos, death and high prices. Again, no one outside of my close confidents and clients listen to me – they rather watch the misinformation peddled by the BBC and so on.
Here is the bald truth.
The energy crisis in Europe is deliberate. It is manufactured by the EU and the politicians who support it. There is NO climate crisis and there never was – not in the 1970s when they said a new ice age was coming and not now when they say its getting warmer – it isn’t – not unless you cheat with the numbers anyway. The energy transition is ridiculous. It replaces what was called security of supply – always the #1 priority of utilities, with carbon reduction at any cost. It replaces cheap fossil fuel generation with heavily subsidised, expensive and unpredictable solar and wind.
They haven’t built anywhere near enough renewable generation across Europe to satisfy demand for power. All the while, their idiotic carbon reduction or net zero policies have increased demand for power – from the hyper expensive, environmental EV disasters to forcing everyone to heat with power not gas. This is all deliberate and pursued with an aggressive push whatever the consequences. The Russia war just made it worse and sooner. It was coming anyway.
If you shut down coal, nuclear and natural gas generation before you are ready with alternatives then you will have power shortages and price spikes. It is that simple. They knew this but they did it anyway.
The politicians blame the war and the energy companies themselves. I am sick of seeing the profit memes of oil companies. That isnt profit – its a change in inventory value. Its not real money – its an accounting gain that will be followed by an accounting loss if and when prices drop.
The politicians who have created this disaster want you to blame the energy companies so they can nationalize them and assume full control. Talk about letting the inmates run the asylum? That would be an unmitigated disaster.
There will be death this winter and it is the EU’s fault and the politicians that gleefully push ahead with unsustainable politics thinking they know better than us in the business. Blame them. Vote them out of office. They are the ones to blame.