One of the more bizarre developments in Europe in recent years has been the twin policy paths whereby fossil fuels have been discouraged in favour of wind and solar, but deals have been struck with autocracies, including Russia, to import more fossil fuel via pipelines.
The net effect of the first policy, obvious in the last few weeks, has been to force European consumers and businesses to pay much more to heat and power their homes and run their businesses. That results from the intermittent nature of wind and solar: when the wind doesn ’ t blow and the sun doesn ’ t shine, the electricity grid needs backup. That comes from natural gas or coal, though coal, along with nuclear power, is increasingly being phased out. Needing backup means Europeans pay twice for power.
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