Placing The Blame For Europe's Energy And Economic Crisis
/Over in Europe, things are looking bad for the economy, largely driven by a rapid increase in household and business energy bills.
In the UK, average household energy bills have recently risen to about triple where they were just a year ago; and Bloomberg reports that “tens of thousands” of UK businesses are at risk of closure due to soaring energy costs. In Germany, KAKE reports on October 7 that energy costs are “savaging German industry,” with natural gas prices in particular up 400% from January to September 2022.
So how did they get into this mess?
You might think, that’s easy to understand. Obviously, they pursued “Net Zero” carbon emissions programs, building weather-dependent wind turbines and solar panels that produce nothing most of the time, while closing reliable coal power plants, banning fracking, and otherwise suppressing fossil fuels, with the sole exception of imports of natural gas. When the gas market spiked, they had no other backup for the wind and sun, and their energy prices soared.




