The European energy conundrum.

Europe holds itself to be at the forefront of the climate change agenda. They have invested in huge solar and wind power projects – much to the chagrin of Europeans paying their electricity bills.

So one might reasonably assume that they are using very little fossil fuel. Au contraire, mon ami. Europe remains by far the world’s largest importer of oil and natural gas.

[Source: Energy Paradoxes Put Europe in a Precarious Position, By Victor Davis Hanson]

One might further assume that they need to import these fossil fuels because they lack their own resources. Again, au contraire, mon ami. While it is true that oil output in the North Sea and off the coast of Norway is declining, Europe is awash in natural gas. They likely possess more reserves of shale gas than the United States and we are currently the world’s largest producer. However, their abundance of shale gas is largely useless because most European countries have made horizontal drilling and fracking to extract gas and oil illegal or subject to court challenges and popular protests making these new technologies both culturally and economically unfeasible.

Thus, Europe is dependent on some very unsavory nations for its sources of energy. They are almost entirely dependent on Russian, Middle Eastern and African sources. The US is crippling Iran’s economy thus greatly diminishing its oil production. Additionally, Venezuelan oil production is markedly decreased. These events have understandably terrified Europe.

If Iran closes the Strait of Hormuz, it’s lights out for Europe. But what about the NATO Fleet, ask you? Oh, you mean the United States Navy, answer I.

Then there is the issue of Vladimir Putin. Russia supplies an estimated 30 percent of Europe’s oil. Translation: Putin has Europe by the balls – although I’m not certain Europe still has balls. So, if you are wondering about Europe’s seemingly idiotic foreign policy (holding to the “Iran Deal” and worrying over US policy toward Russia), then apparently you failed to read the last few sentences.

So does Europe thumb their nose at Russia and the Middle East because they have wind farms, solar panels, and batteries? No! They are tied to a mercurial Russia and a bevy of unstable Middle Eastern governments (and an underappreciated U.S. military).

Now that the USA is exporting oil and gas, Europe assumes we will always come to their rescue… and I presume we will. But I hope we quadruple our prices. After all, Europe, you can’t be both the world’s largest importer of gas and oil and the loudest critic of fossil fuels without US citizens laughing in your face.

Roy Filly