Enjoy!"The European Unionvoted on Wednesdayto keep some specific...

Enjoy!

"The European Unionvoted on Wednesdayto keep some specific uses of natural gas and nuclear energy in its taxonomy of SUSTAINABLE (my emphasis) sources of energy.

Europe’s taxonomy is its classification system for defining “environmentally sustainable economic activities” for investors, policymakers and companies.

This official opinion of the EU matters because it affects funding for projects as the region charts its path to address climate change...

But some observers were encouraged by the vote and see it as an indication that European governmental leaders are facing the tough reality that it will take time and many steps to transform energy infrastructure, according toDavid Blackmon, an energy-related public policy analyst and consultant based in Texas.

The vote “reflects a growing recognition that the ongoing ‘energy transition’ is going to be far more complex and difficult to achieve than the overarching, simplistic narratives,” Blackmon told CNBC".

https://www.cnbc.com/2022/07/06/europe-natural-gas-nuclear-are-green-energy-in-some-circumstances-.html


Hmm...the very Green EU has voted on 6.7.22 to rescind, at least partially, their anti-gas & anti-nuclear power policies.

They now appear to accept (despite previously rejecting the arguments of many independent power generation experts) that the nirvana of a rapid transition to renewable power is completely unattainable in the short to medium term.
They accept now fossil fuels are crucial to achieve this goal (& to deliver reliable, economic, baseload power!).

Gas-fired power stations are now being converted to OIL in Europe, to attempt to replace Russian gas (which previously supplied 40% of the EU's gas needs).

The brutal Russian invasion of a democratic European country, with Russia's continuing belligerent threats (Russia's nuclear weapons have been put on a higher level or Readiness, following its invasion etc.) has caused t panicking EU to accept, however begrudgingly, fossil fuels & are absolutely essential for the short to medium term.

Oil demand & prices are very likely, IMO, to remain at elevated levels for the short to medium term.