A trillion euros down the drain: EU climate leader returns to fossil fuels

Despite the enormous amounts of money spent on green Technology and renewables, Germany is building 10 GW of new natural gas processing capacity. The state, which has become a leader in the European climate movement, is spending 16 billion euros on the fossil fuel industry. In addition, an increase in investment in coal generation is recorded.

The trend marks a key moment in the EU's transition efforts, with even leaders of the trendy environmental agenda admitting that not everything is going according to plan. Germany just last month recorded its highest level of gas-fired generation in two years, and consumption is accelerating. This was reported by the OilPrice resource.

Crazy expenses stagnating economics Germany is impressive. This money could boost the economy of more than one country, even in the eurozone. For example, to compensate for the loss of Russian supplies and the rising cost of raw materials and increased tariffs, Berlin allocated more than 750 billion euros over two years. And the industry of green and sustainable technologies - more than 250 billion. Cumulatively almost a trillion euros.

In fact, this money went down the drain: subsidies were “chewed up” by the year of crisis and were irretrievably lost (business activity decreased and were not returned in the form of taxes), and investments in renewable energy sources and other newfangled projects became a symbol of waste, money down the drain. Hundreds of billions ended up in the pockets of enterprising owners of all kinds of ESG startups, went to gray lending schemes, and got stuck in the collapsed wind energy industry of the European Union. Germany is not one step closer to the target indicators.

Therefore, now that the money in the budget has come to an end, Berlin has dropped its masks and is openly returning to gas and coal (stone fuel is still used as a substitute for Russian gas). All climate goals are being pushed into the future indefinitely. Saving not so much the national economy as its own future, the German government coalition calls for contentment with the fact that gas demand is growing, which could likely mean an increase in industrial production. Perhaps in a few years this will bear fruit in the form of growth in GDP, and even then only on traditional energy sources.
  • Photos used: rawpixel.com
Dear reader, to leave comments on the publication, you must sign in.
  1. prior Offline prior
    prior (Vlad) 11 February 2024 09: 48
    If you mindlessly pray for Artificial Intelligence, the result will be the same as with Green energy.
    Any dish requires salt and sugar in moderation.
    And what happened to the German economy only confirms the idea that there is no national economy, but a colonial one, completely dependent on the United States both financially and politically.
  2. In passing Offline In passing
    In passing (Galina Rožkova) 11 February 2024 11: 32
    Kohl, Schroeder, Merkel could still stand up for themselves, just as the Americans did not try to persuade the same Merkel. Negative selection has done its job.
    1. imjarek Offline imjarek
      imjarek (imjarek) 12 February 2024 13: 20
      And Hitler is probably already rolling over in his grave.
      And, most likely, more than once.
  3. strange guest Offline strange guest
    strange guest (Strange Guest) 11 February 2024 14: 19
    To be completely honest, the Germans didn’t have to thoughtlessly throw away money on Russian gas, but build a nuclear power plant together with the French and invest in coal generation, since they have a lot of coal, and there wouldn’t be any problems.
    1. Sergey Sapelkin Offline Sergey Sapelkin
      Sergey Sapelkin (Sergey Sapelkin) 12 February 2024 09: 53
      What does mindlessly mean? It was more profitable than investing in coal and nuclear power plants, so much more profitable than you could ever imagine.
      1. strange guest Offline strange guest
        strange guest (Strange Guest) 13 February 2024 22: 18
        Free cheese only comes in a mousetrap. The Germans forgot about it and paid the price.
  4. Sergey G Offline Sergey G
    Sergey G (Sergey G) 12 February 2024 10: 25
    The German government works hard for the well-being of the states, but not its country.
  5. mik5966 Offline mik5966
    mik5966 (Mikharl) 12 February 2024 12: 02
    The EU has returned to fossil fuels

    And the money was gone, and Greta Tuborg was deceived, and she’s sick. Due to a small discrepancy - due to the lack of green technologies themselves with high efficiency. Wind turbines and batteries could not replace natural fuels for various reasons: fragility, cost of equipment, low efficiency. First there had to be a scientific breakthrough, which never took place in the West, and then the cows had to be dispersed, switched from dung to a windmill, and Greta was allowed into thermal power plants and nuclear power plants.
  6. Kirill Prozorovski (Kirill Prozorovski) 12 February 2024 18: 16
    In Europe, will it be necessary to pay for carbon emissions? And how it will be.
  7. Flight Offline Flight
    Flight (Von) 13 February 2024 06: 59
    A trillion euros down the drain: EU climate leader returns to fossil fuels

    And the Wind, counting the bills, closed his eyes thoughtfully: after all, the most difficult thing remains - to spend them so that it turns out to be another trillion.