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this post was submitted on 06 Dec 2023
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I know this is not a popular opinion here, but Nord Stream was always a bad idea. They should've spent that money and effort on alternative energy source development instead. Being reliant on fossil fuels is not energy sovereignty no matter what country the fossil fuels come from.
Cheap Russian gas was what allowed German manufacturing to compete with the rest of the world while paying their labor at relatively high wages. It was a significant factor in why post-2009 EU recovered its economy so rapidly.
Without a strong industrial economy, Germany (and the rest of Europe by extension) would never have the means to transition into green energy to begin with.
Nord Stream didn't help at all, though. All it did was let them keep kicking the can further. Again, if you're reliant on a resource from somewhere else, that's not energy sovereignty.
Europe never had energy sovereignty, that’s the point I was making. Without cheap Russian gas, Europe would have been much poorer than it is after the 2009 crash, unless they’re also willing to depress wages. How are they going to invest in green technology if they never had the money in the first place?
Depending on how you look at it, the natural gas is still a far more acceptable molecule for transition to green energy, than coal that Germany is rolling out to spite the Russians these day.
Yeah welcome to Europe. With Nordstream they were dependent on two parties, without it they are wholly dependent on one. How do you think that impacts their bargaining power with the one?
Yeah but now the Europeans are still burning natural gas but LNG which is way more energy intensive to create and transport. Even China, with its massive manufacturing capabilities in renewables and world leading investment still need gas and coal as they transition.
Nordstream wasn't the best option, but what's happening now is certainly worse.