Europe’s inexperienced power insurance policies strengthened Putin, Michael Shellenberger says

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Europe’s inexperienced power insurance policies empowered Russian President Vladimir Putin and stripped Western international locations of their capability to sanction Moscow successfully, in accordance with the best-selling creator of “Apocalypse Never.”

“You’re not really an independent nation if you depend on foreign countries so heavily for your energy supplies,” Michael Shellenberger instructed Day by day Put up. He mentioned European nations have grow to be more and more depending on Russia for power lately as they’ve adopted inexperienced coverage initiatives.

The continent imports almost 40% of its gasoline from Russia, according to the Associated Press. It consumes almost 5 occasions as a lot oil because it produces, and Russia produces almost 4 occasions as a lot oil because it consumes, in accordance with British Petroleum

Europe’s dependency on Russian power limits its capability to take actions comparable to imposing financial sanctions in opposition to Russia in response to the battle in Ukraine, in accordance with Shellenberger.

Michael Shellenberger, best-selling author of

Michael Shellenberger, best-selling creator of “Apocalypse Never” 

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“Fifteen years ago, Europe produced more natural gas than Russia,” Shellenberger mentioned. “Today, Russia exports three times more natural gas to Europe than Europe produces.” 

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That’s due both to the fact that Russia increased its natural gas production and Europe reduced it,” he added.  

Green energy policies have made Europe dependent on Russia

Inexperienced power insurance policies have made Europe depending on Russia

“Europe decided not to frack in large part in response to climate activists,” Shellenberger instructed Day by day Put up. “We now think there is strong evidence suggesting [the climate activists] were supported directly through financing from Russia.” 

Moscow intelligence companies, for instance, secretly supported European environmental teams in campaigns in opposition to fracking with the intention to preserve the European Union depending on Russian exports, in accordance with a 2018 congressional report.

Russian President Vladimir Putin

Russian President Vladimir Putin
(Reuters)

However environmental activist teams don’t disclose their donors, so any benefactors of Russia’s donations stay unknown, in accordance with Shellenberger.

Moreover, Europeans turned extra reliant on Russian power due to nuclear power insurance policies.

Putin “expanded nuclear power at home so that he could export more natural gas abroad rather than use it for electricity production,” Shellenberger mentioned. “Europe shut down its nuclear plants and declined to build new ones.”

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Russia’s nuclear energy capability has elevated by 33% since 2002, in accordance with the World Nuclear Affiliation. Germany’s nuclear capability has decreased by over 80% in that point interval.

“That has proven to be catastrophic as the continent became increasingly dependent on Russia for energy imports,” Shellenberger instructed Day by day Put up. 

Shellenberger described rising oil prices and overseas dependencies as “the worst energy crisis since 1973.” 

“I think the chances are very high that it’s going to result in a global recession,” Shellenberger instructed Day by day Put up. “When oil prices reach these levels, they tend to trigger recessions.”

DataTrek Analysis co-founder Nicholas Colas lately told Barron’s: “History shows that a 100% increase in oil prices over a year usually triggers a recession (1990, 2000, 2008). We’re not quite there yet, but we are getting closer by the day.

Crude oil reached $130 per barrel Sunday evening, according to CNBC. A year ago, it was $63.81.

Shellenberger said oil prices could hit $200 per barrel. 

European reliance on Russian energy leaves Western countries with little leverage against Putin in the ongoing conflict in Ukraine, according to Shellenberger. 

President Biden announced on Tuesday a ban on U.S. imports of Russia oil. Last year, the U.S. imported 7% of its petroleum from Russia, according to the U.S. Energy Information Administration.  

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“Our hearts are with the Ukrainians,” Shellenberger said. “We’d love to have the ability to punish the Russians and cease importing their power, however efforts to try this will make power costlier.”

The logo of Russia's oil company Lukoil is pictured at one of its petrol stations in Moscow on April 16, 2021. (Photo by Kirill KUDRYAVTSEV / AFP) (Photo by KIRILL KUDRYAVTSEV/AFP via Getty Images)

The emblem of Russia’s oil firm Lukoil is pictured at certainly one of its petrol stations in Moscow on April 16, 2021. (Photograph by Kirill KUDRYAVTSEV / AFP) (Photograph by KIRILL KUDRYAVTSEV/AFP by way of Getty Photos)

“It was always predictable,” Shellenberger mentioned of the power disaster and European dependence on Russian power. “This was all very apparent to people that were rational thinkers on energy.”

Prosperity, sovereignty and power independence are all interconnected, in accordance with Shellenberger.

“There is no low-energy rich nation, just as there is no high-energy poor nation,” he mentioned. 

“I hope it’s a wake-up call,” Shellenberger instructed Day by day Put up. “At best, we can hope to avoid a global recession, but that’s going to require a significant expansion of energy supplies in the United States and Europe as quickly as we can.” 

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