September 17, 2021

SHOCKER: European Energy Prices Set Records.

How can that be? They’ve gone green! Oh, wait: “According to the Wall Street Journal yesterday, due to a rare lack of North Sea wind, already high European energy prices are climbing higher.”

It gets better: “Gas and coal-fired electricity plants were called in to make up the shortfall from wind. Natural-gas prices, already boosted by the pandemic recovery and a lack of fuel in storage caverns and tanks, hit all-time highs. Thermal coal, long shunned for its carbon emissions, has emerged from a long price slump as utilities are forced to turn on backup power sources.”

Funny how “green” power is never a backup for coal and gas, only the other way around.

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