Erika Johnsen:
Germany’s once promising Energiewende ambitions, which included virtually ridding the country of nuclear power while heavily subsidizing wind and solar with the eventual goal of transitioning electricity production to 60 percent renewables by 2050, hasn’t worked out too well. The country’s rising energy prices have hurt consumers and ruined their manufacturing competitiveness, while the costliness and unreliability of wind and solar has prompted energy producers to turn back to the coal-powered plants in droves — resulting in a net increase in carbon emissions.
Germany has already started to back down from the ideological precipice onto which it hoisted itself in all of its noble eagerness to serve as the world’s environmentalist pioneer in energy-sector central planning, and in perhaps an even bigger acknowledgement that it’s time to step away from that ledge, Angela Merkel’s government looks like it’s finally ready to give shale drilling its due. Via the Financial Times:
Germany is set to lift its ban on fracking as early as next year, after caving in to business demands that it should reduce its dependency on Russian energy and boost competitiveness with US manufacturers.
Applications to carry out the controversial process for extracting the country’s estimated 2.3tn cubic metres shale gas reserves will be subject to an environmental impact assessment under new legislation to be discussed by the cabinet before the summer recess. …
Ooooh:
“….caving into business demands…” Always the anti-business take.