Scholz's Statement on the end of the Fossil Fuel Era

Alexey Belogoryev, Research and Development Director of the Institute for Energy and Finance, commented to Rambler.Finance on the prospects of abandoning fossil energy in Germany and the world as a whole.

Earlier, Scholz expressed the opinion that the era of using fossil energy sources is coming to an end. According to him, against this background, there will be a change in industrial processes.

"This statement by Scholz is political in nature, and it should be treated in two ways. On the one hand, Germany, like Norway, is indeed at the forefront of converting the electric power industry to renewable sources, and is also one of the pioneers in the field of production and development of hydrogen fuel consumption infrastructure. That is, in general, it is one of the leaders among the countries in terms of energy transition. Suffice it to say that last year the number of German households with electric solar panels installed on their roofs exceeded one million.

So the bet on avoiding fossil fuels in Germany was made quite a long time ago, especially since 2021, the Green Party has actually been in charge of Germany's energy policy, which has always had and remains quite radical views, primarily on the pace of the energy transition and the country's withdrawal from fossil fuels. Accordingly, over the past three years, Germany's energy policy has moved very much towards the development of green energy, which, among other things, was facilitated by the gas crisis of 2022 and the country's loss of cheap Russian gas. So, such statements by Scholz are not surprising," Alexey Belogoryev comments.