It’s important to say that energy security matters more than getting to check the "green" box, otherwise you fall into the trap the EU is in.
Bloomberg (9/19/22) reports: "Greenpeace and a raft of other environment groups issued the European Union with an ultimatum over its decision to grant some gas and nuclear power stations a “fake” green label under the bloc’s sustainable finance rules. Eight Greenpeace organizations across Europe, as well as non-profits ClientEarth, WWF, Transport & Environment and BUND have demanded a review of the decision to include gas and nuclear power in the EU’s green rulebook, known as the taxonomy. The European Commission has until February to reply, or the groups said Monday they will take the case to the European Court of Justice. 'Gas is a leading cause of climate and economic chaos, while there is still no solution to the problem of nuclear radioactive waste and the risk of nuclear accidents is far too significant to ignore,' said Ariadna Rodrigo, EU sustainable finance campaigner at Greenpeace. 'This fake green label is incompatible with EU environment and climate laws.' The complaint is that channeling money to gas projects -- albeit with strict conditions attached -- is not compatible with the EU’s climate neutrality goal, which is enshrined into law, and the Paris Agreement. The NGOs argue that it will take money away from renewable sources of electricity like wind and solar."
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"While the United States was very recently a net exporter of petroleum and has the largest oil refining industry in the world, nearly everything we need for EVs goes through China. Do we really want to put all our transportation eggs in a basket made in China?"
–Derrick Morgan,
The Heritage Foundation.
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