European "green energy" lobbyists are against common sense: who will win?

Alexey Gromov, Principal Director on Energy Studies of the Institute for Energy and Finance, commented to Baltnews on the position of the European Parliament on the possible exclusion of gas and "peaceful atom" from the "green" taxonomy.

Alexey Gromov told Baltnews that the position of the European Parliament on this issue, like the latest resolutions that were heard in the Council of Europe, can be regarded as politicized documents. They have little in common with the real economic situation in the region.

“It’s obviously, without significant state preferences for gas and nuclear energy, investments in these industries will drop sharply. Investors are simply not interested in investing in projects that are not supported by the eurozone authorities. As a result, Europe will face the problem of a severe energy crisis that will last for years. The EU economy will be in a rather difficult position right up to a recession due to high energy prices. Therefore, such a decision by the EP will completely contradict the logic of ensuring energy security in the current realities. I hope that common sense will still win in Europe, since the development of the gas energy sector in the EU will rely, among other things, on imported LNG. The United States and Qatar plan to increase the supply of liquefied gas in the coming years. But if there is no support at the legislative level, then there will be no incentives for the development of such projects. Where to get resources then? Renewable energy sources cannot provide electricity in the EU countries, no matter what efforts are made to develop it. If we also cross out the "peaceful atom", then it's scary to imagine what will happen to Europe," the expert said.