economy
In Europe, lobbyists are using soaring fuel prices to make the case for more dirty energy
The argument for transitioning to renewables seems stronger than ever – and yet, attacks mount on the carbon price scheme that underpins the EU’s success at cutting pollution
TL;DR
- Europe faces rising fuel prices due to conflicts in Iran and the US-Israel attack on Iran, impacting Asia and causing panic in Europe.
- Despite the crisis, efforts to shift towards domestic renewables are muted, with lobbyists attacking climate policies like the carbon price and methane standards.
- Europe is better prepared for this energy crisis than in 2022, with wind and solar overtaking fossil fuels in EU power generation.
- However, EU officials and national leaders are unwinding parts of the Green Deal, prioritizing 'competitiveness' and appeasing industries.
- A trade deal with the US linked to energy purchases alarms campaigners, signaling a potential return to fossil fuels.
- Germany is watering down environmental laws and considering relaxing net zero targets.
- The EU's emissions trading system is under attack, with plans to weaken its carbon price, alarming environmental groups.
- The article contrasts Europe's situation with the US embrace of fossil fuels, though the EU is mandating lower electricity taxes and boosting decarbonisation investments.
- The article also touches on the erosion of the rule of law in Hungary and other European countries, and the use of similar tactics by far-right parties.
- Historically, Europe has transformed its energy systems during crises, but current imagination for change seems diminished.