The European Union seeks independence from Russian oil and gas.
Source: New York Times
The European Commission on Tuesday outlined ambitious proposals to “make Europe independent from Russian fossil fuels well before 2030.” Europe has been hit with exorbitant natural gas prices in recent months because of tight supplies, exacerbated by restrictions by Russia, and worries that Moscow would cut flows in response to Europe’s support for Ukraine.
“We must become independent from Russian oil, coal and gas,” the commission’s president, Ursula von der Leyen, said in a news release. “We simply cannot rely on a supplier who explicitly threatens us.” The proposals will probably be a huge boon for a variety of energy businesses, from the suppliers of liquefied natural gas in Qatar and around the Gulf of Mexico to builders of solar energy parks and offshore wind farms. The question is whether they can be executed rapidly enough to prevent further harm to household finances and the broader economy.
“If we react to the current crisis with a warlike reaction,” said Marco Alvera, chief executive of Snam, the Italian natural gas company, “we can do a lot in six months.” The Russian invasion of Ukraine is turning into a watershed moment for Europe on energy matters. Europe has long relied on Russia for a large portion of its oil and gas, trusting in what many European leaders thought was a mutually beneficial business relationship.
In recent months, though, Russia has appeared to exacerbate an already tight natural gas market by declining to provide Europe with any gas above contracted amount. Following Russia’s invasion of Ukraine last month, European gas prices have risen to astronomical levels, comparable to more than $500 a barrel for oil. High gas prices have also sent electricity prices much higher, putting pressure on both consumers and businesses.
Read more: https://www.nytimes.com/2022/03/08/business/european-union-russia-oil-gas.html?smtyp=cur&smid=tw-nytimes
Here is a link to the press release about the proposal and excerpt - https://ec.europa.eu/commission/presscorner/detail/en/ip_22_1511
REPowerEU: Joint European action for more affordable, secure and sustainable energy
The European Commission has today proposed an outline of a plan to make Europe independent from Russian fossil fuels well before 2030, starting with gas, in light of Russia's invasion of Ukraine.
This plan also outlines a series of measures to respond to rising energy prices in Europe and to replenish gas stocks for next winter. Europe has been facing increased energy prices for several months, but now uncertainty on supply is exacerbating the problem. REPowerEU will seek to diversify gas supplies, speed up the roll-out of renewable gases and replace gas in heating and power generation. This can reduce EU demand for Russian gas by two thirds before the end of the year.
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More: https://ec.europa.eu/commission/presscorner/detail/en/ip_22_1511
Link to fact sheet (PDF) - https://ec.europa.eu/commission/presscorner/api/files/attachment/871871/Factsheet%20-%20REPowerEU.pdf.pdf
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Britain sits on massive coal fields that were originally used to heat and power things. Current coal fields (from here - https://www.nmrs.org.uk/mines-map/coal-mining-in-the-british-isles/) -
But we know how that goes and with that "land bridge" from the east to the west across what is really "Eurasia" (vs what is simplified for cultural reasons, as 2 different continents but really isn't), it eventually became easier to go with natural gas and oil through pipes as a way to move away from coal.
I hope this kicks in the Green is Good movement even more!
And it was actually promoted and talked about at my school.
And I will say that some 50 years later, it still resonates.