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Thomas Gallatin / October 7, 2021

Biden’s Green New Steal

Europe’s failing green energy policies serve as a dire warning against the Democrats’ $3.5 trillion plan.

Europe is currently suffering under a severe energy shortage that could have easily been avoided had European Union nations not elected to go down the extreme route of forcing via government fiat the creation of “carbon neutral” economies by 2050. In order to achieve this utopian green dream, EU countries over the last decade have systematically shut down their reliable fossil fuel-based energy plants (the UK now has only two working coal-power plants) while at the same time spending trillions of dollars to subsidize the development of inherently less reliable and more costly renewables like wind and solar.

Europe also has acted to aggressively eliminate accessing its own abundant resources of fossil fuels. For example, the UK and Germany banned fracking, and Europe’s biggest gas field is being shuttered by the Netherlands.

Now, EU countries are struggling to keep the lights on. Global prices for fossil fuels, which Europe depends upon to maintain energy due to the inherent unreliability of renewables, have spiked due to high demand.

“In short, all of Europe’s green chickens are coming home to roost,” observes The Wall Street Journal. “Several U.K. retail electricity providers have collapsed in recent weeks because of the surging price of gas. Energy experts warn that some German power suppliers are in danger of going insolvent. Germany’s electricity prices, which were already the highest in Europe because of heavy reliance on renewables, have more than doubled since February.”

The situation has become so dire that a former longtime energy adviser for the UK government is warning the country may soon need to begin rationing power for commercial users. Europe’s green energy dream is turning into the nightmare about which practically minded and scientifically consistent observers warned. Simply put, trading away reliability for unreliability because the latter is deemed “better” does not magically eliminate the unreliability problem.

Which brings us back stateside. Despite the failing EU green dream serving as a dire warning to Joe Biden and the Democrats against the viability of their Green New Deal pipe dream, it appears it will go entirely unheeded here in the U.S. Even with the jumping price of gas — which has now reached a high not seen since 2014 — Biden and congressional Democrats seem hellbent on taking the U.S. down the same economically damaging road as they ram through their $3.5 trillion spending bill full of green energy mandates and fantasies. Will it change the global climate? Only the economic one.

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