Europe Trapped
The great energy transition has pushed Europe to the brink of an economic disaster. The plan was excellent in theory, but the risks were miscalculated and no allowance was made for alternative outcomes.
“We will drill, baby, drill and by doing that we will lead a large-scale decline in prices”. This is how Donald Trump began his speech on 19 July 2024, accepting the nomination for the presidential race at the Republican National Convention. Trump went on to make other promises after invoking the somewhat forgotten slogan “Drill, baby, drill”, which was promoted in 2008 by the then governor of Maryland, Michael Steele. “By slashing energy costs, we will in turn reduce the cost of transportation, manufacturing and all household goods. We have more liquid gold under our feet than any other country by far. We are a nation that has the opportunity to make an absolute fortune with its energy”, he claimed. He also told us what his plans were for the money: “And all of the trillions of dollars that are sitting there not yet spent, we will redirect that money for important projects like roads, bridges, dams and we will not allow it to be spent on the meaningless Green New scam ideas”.
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