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You can't fight a war without energy. A key element of the geopolitical tussle will be to secure adequate supplies of energy -- and to deprive the opposing side of the same. The situation is further complicated by the attempted transition from fossil fuels to low-carbon energy sources. Since the Industrial revolution, development of the global economy has been fueled by energy from fossil fuels, with GDP and fossil fuel consumption growing exponentially. Gradual transition to alternative energy sources would be a big ask. To attempt a rapid transition while in the midst of geopolitical conflict could end in disaster.
Russia's 2022 invasion of Ukraine highlighted Germany's energy vulnerability despite billions of Euros invested in renewables over recent decades. You cannot run a modern industrialized economy without reliable energy sources.
Low investment in fossil fuel resources -- which fail to meet ESG standards -- has further increased global vulnerability to energy shortages during the transition.
EEG Price at posting:
12.8¢ Sentiment: Buy Disclosure: Held
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