Germany’s Energy Woes Deepen
President Biden’s net zero goal will result in higher electricity prices, instability to the grid, and higher taxes to pay for the tax incentives on renewable energy. Should we really follow Germany’s lead?
By Jack Dini —— Bio and Archives--June 17, 2024
Global Warming-Energy-Environment | Comments | Back To Full Article
Germany is clearly struggling. It was the only G7 economy to shrink last year and is set to be the group’s slowest growing economy again this year. Some pundits say Germany’s economy model is irreparably broken. (1)
Blackout News reports that there is no end in sight for Germany’s self-inflicted energy crisis. Energy prices are expected to continue rising, thus posing a huge risk to industry. “There has been nothing comparable since 2016, the year the data was first collected. This development not only points to internal company problems, it also highlights the extensive economic challenges the country is facing.” Insolvencies are even worse than during the Covid pandemic lock down years. (2)
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