RIO DE JANEIRO, BRAZIL – The U.S. elites and globalists in Europe want to cut off the old continent from Russia virtually. Especially in terms of energy supply. The escalated Ukraine conflict has provided the broader basis for building up pressure for this and creating some popular support.
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Meanwhile, Western sanctions are causing skyrocketing costs for energy sources, which the political leadership blames Vladimir Putin. This passing of the buck also serves to implement their plans (initiated by the World Economic Forum) for the “decarbonization” of Europe. But this comes at a price.
This week, we presented an ambitious package to:
• Phase-out our dependency on Russian fossil fuels and achieve our climate goals with #REPowerEU
• Address Defence capability gaps
• Support our Ukrainian friends – now and in the long-term.
Have a look ↓ pic.twitter.com/c1YCKBh0Jc
— Ursula von der Leyen (@vonderleyen) May 21, 2022
Called “REPowerEU,” the program of the Brussels Eurocrats is intended to reduce the European Union’s dependence on fossil fuels from Russia while making the community of states “greener” and “more sustainable.”
However, a new calculation by Rystad Energy makes it clear that this will be very expensive. Just achieving the goal of increasing the share of renewables from 40 to 45 percent of energy supply by 2030 will require at least a trillion euros in investments, it says. More likely, however, more than 1.2 trillion euros.
We are stepping up Europe's energy security and independence.
Today, we present the #REPowerEU Plan to rapidly reduce our dependence on Russian fossil fuels, and fast forward the green transition.
How do we plan to achieve it? ⬇️
— European Commission (@EU_Commission) May 18, 2022
The installation of photovoltaic systems alone (411 gigawatts by 2030) would cost around 452 billion euros. Plus the corresponding capacities for the intermediate storage of electricity (solar energy is only available at certain times of the day).
But even that would not be nearly enough to meet demand. Rystad Energy estimates that an additional 450 to 490 GW of wind capacity would need to be installed by 2030 to meet the 45% renewable energy supply target, which would require an extra 820 billion euros of investment.
“The ambition of the REPowerEU plan is enormous. Energy companies and energy markets will be looking for details on investments and infrastructure.
While the targets are achievable, it will take war-like planning, high levels of investment, construction, and production to reach the targets by 2030,” says Carlos Torres Diaz, head of energy research at Rystad Energy.
A veiled allusion to the inefficiency of European authorities is likely to make it more challenging to achieve these goals, particularly because this sum is roughly equivalent to Spain’s economic output in a year.
#REPowerEU was released yesterday. There is good and bad stuff in there, but one notable (positive) change is the perceived role heavy industry 🏭 has to play in getting of (Russian) gas… @EU_Commission now says industry can reduce gas consumption by 63% (!) by 2030
A🧵1/10 pic.twitter.com/WQKlIs9wyJ
— Domien Vangenechten (@DVangenechten1) May 19, 2022
Of course, the target can also be achieved more easily by significantly reducing the energy demand, for example, by driving forward the deindustrialization of Europe. After all, the less (heavy) industry in Europe, the less energy is consumed.
But this also means that to achieve the ambitious goals, the Brussels Eurocrats would have to make Europe even less attractive as a location for these companies than it already is, given the high costs and requirements.