Germany bleeds money to keep lights on as ‘green experiment’ turns into disaster – zoohousenews.com
(Natural News) Germany has for years shut down its fossil-fuel power plants and nuclear plants to pursue a “green energy” policy of replacing those plants with wind and solar power — as well as hefty purchases of natural gas and oil from Russia.
After Vladimir Putin invaded Ukraine and the US imposed tough sanctions on Russia against the West, including a ban on imports of Russian gas and oil, Germany found itself in a huge dilemma: Without Moscow’s energy, the “green infrastructure” built in the US Existed, Unused Land was found to be deficient and unable to power the country’s robust industry, let alone homes and businesses.
So now Germany is “bleeding money to keep the lights on,” according to a Reuters report, after “burning nearly half a trillion dollars, and counting, since the Ukraine war plunged it into an energy crisis nine months ago.”
The report continued:
That’s the cumulative scale of the bailouts and programs the Berlin government has launched to prop up the country’s energy system since prices have skyrocketed and it lost access to gas from main supplier Russia, according to Reuters calculations.
And it can’t be enough.
“How severe this crisis will be and how long it will last largely depends on how the energy crisis will develop,” Michael Groemling from the German Economic Institute (IW) told the newspaper, adding: “The national economy as a whole is standing facing an enormous fortune loss.”
Reuters reported that, according to available figures, Germany has so far committed around $465 billion, or 440 billion euros, which is likely only the first installment of funds to save the country from blackouts and help secure additional forms of energy, especially now that the winter is here.
The supreme economic power in all of Europe, the German people, will now be at the mercy of their leaders, thanks to their leaders.
“The German economy is currently in a very critical phase because the future of energy supply is more uncertain than ever,” Stefan Kooths, vice president and head of research for economic activity and growth at the Kiel Institute for the World Economy, told the news agency. “Where is the German economy? If we look at price inflation, it has a high fever.”
Many have attributed Germany’s current situation almost entirely to the loss of fossil fuel energy from Russia, but that is disingenuous at best and a blatant lie at worst.
According to a Forbes report:
The International Energy Agency is at it again. In May 2021, it released an amazing report calling for an end to all investments in oil, gas and coal in order to reach the fantasy goal of net zero by 2050. Now, as the world grapples with an energy crisis and rising fuel, fertilizer and food prices, the organization released its new Renewables 2022 report last Tuesday. The organization’s chief, Fatih Birol, tweeted “big news” and claimed that “The world will add as much renewable energy in the next 5 years as it has in all of the past 20 years as countries seek to take advantage of renewable security benefits.” The mainstream press reported loyally on the IEA’s claims of “renewable energy deployment being ‘turbocharged’ by the global energy crisis”.
The IEA notes that the disruptions in Russia’s fossil fuel supplies “have demonstrated the energy security benefits of domestically generated renewable electricity and prompted many countries to strengthen policies supporting renewable energy.” The report claims that higher fossil fuel prices around the world have made solar PV and wind power more competitive than other fuels.
But that’s dead wrong: Forbes goes on to note that over-reliance on green energy coupled with under-investment in reliable (and cheaper) fossil fuels has led to Germany’s energy crisis, along with Europe as a whole.
The outlet blamed the IEA’s erroneous conclusions on adopting a green energy ideology over scientifically based factual data.
“The glowing renewable energy projections presented by the IEA appear free of the laws of physics and written to promote an agenda. The descent of the once-leading organization — devoted to the rigorous analysis of energy economics and its policy implications for its OECD member countries — to advocacy and shoddy analysis for the green cause is complete,” notes the Forbes report.
“Fixed on bogus models that supposedly link carbon emissions to apocalyptic projections of global warming, the IEA cares no less about the unbearable financial burdens imposed on ordinary people who lack affordable food, heating (or cooling), lighting and mobility need.” the report continues. Worse, it seeks to impose its penchant for climate change on the vast majority of the world’s population living in developing countries. But people are bridging the dots between the West’s incoherent ideological energy policies and the detrimental impact on their livelihoods.”
It’s time; The Germans learn the lesson first.