For years, the Europeans have poured billions of Euros into Green Energy projects with the promise of dependable, cheap, and renewable energy. At least that is what the leaders have promised; unfortunately, the result has been spiraling energy costs and a damper on the European economies. Energy costs in Europe are 2-3 times higher than in the U.S. (although with the new Biden Administration that competitive edge is being lost) and as a result, numerous European companies have moved manufacturing jobs to the U.S.
This short editorial tells a sad tale of a Europe now searching for traditional means of energy and having to pay higher prices. Plus, Russia is in an excellent position to not only gain political concessions from the E.U. but can also strike a very favorable balance of trade thanks to the now completed pipeline which had been blocked by the Trump Administration. It looks like it may be a very frigid winter for Europe.
