Climate policies have cost Europe trillions of dollars and they are still reliant on coal, but Kamala promises her Green New Deal will actually decarbonize America.
Shipping News (7/30/24) reports: "A rise in European wholesale natural gas prices over the past several months is expected to encourage more utilities to switch to coal for electricity generation this coming winter. While many European countries, such as France, Britain and Italy, have either phased out coal completely or have limited ability for large-scale gas-to-coal switching, coal is a key part of the power mix in Germany, Europe’s number one energy consumer, and much of eastern Europe. In February, European natural gas prices fell to near a three-year low, incentivizing a switch in other direction. Gas prices, however, have risen nearly 40 percent since their February 23 low that arose from a mild winter and an abundant supply. Both coal and natural gas plants must consider the cost of EU carbon permits to offset their emissions–a cost that is higher for coal plants as they release more carbon dioxide emissions than gas plants. The price of those permits, however, is currently about 32 percent below last year’s record high of more than 100 euros ($108), and are currently at around 68 euros per metric ton, as energy-related deindustrialization has closed industries across Europe. When the carbon price is below 80 euros per metric ton, high efficiency coal plants may replace gas plants with 50 percent efficiency."
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