Europe’s structural dependence on inexpensive hydrocarbon energy from its now-hostile Russian neighbour has had two crucial outcomes. It has amplified and accelerated destabilizing dynamics already in play, bringing about a transformation of the international energy landscape. And it has starkly exposed the spectacular failure of Europe’s 30-year, market-distorting climate policies, in particular its delusions about a renewables-based net-zero energy transition.
Reality is a merciless mistress: remove hydrocarbons and net-zero energy magic vanishes, exposing Europeans to the truly shocking social and economic fall-out of decades of wishful political thinking fundamentally divorced from reality.
