Saturday, 11 June 2011

Barron´s: Germany risks dependence on Russian energy

In this video the CEO of Nord Stream, former East German spy Matthias Warnig speaks about the Russian-German gas pipeline project.

Barron´s editorial page editor Thomas G. Donlan is not impressed by the German government´s decision to close down the countries nuclear power stations, which Chancellor Angela Merkel in 2008 classified  as "safe and among the best in the world". In an editorial commentary, Donlan makes the same point as this blog has made earlier: There is a real danger that Germany becomes dangerously dependent on Russian gas:

There are two theories about how Germany will replace 20% of its electricity supply. The Green scenario holds that renewable fuels, such as wind and solar, plus more efficient use of energy, are realistic substitutes for nuclear power. The economic scenario denounces that as more expensive than nuclear power, if it's not outright wishful thinking. If Germany denies itself the benefits of nuclear power, there is an alternative—in large imports of natural gas from Russia.
Economically, Russian gas makes sense. Politically, it's a threat to German autonomy—and the Greens should answer for that. The rest of the Germans should ask the Ukrainians how comfortable they are being dependent on Russian gas.

Read the entire article here

Not only should the Germans ask the Ukrainians, but also e.g. the Poles, who are now doing their best to get the shale gas revolution going, in co-operation with US companies.

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